ACFA FEBRUARY CLE HYBRID PROGRAM: WATCH OUT FOR ICEBERGS...SOME THINGS TO KNOW ABOUT LENDING ON IN-TRANSIT INVENTORY! | FEBRUARY 28th

Tuesday, Feb 28 2023 05:00 PM - Tuesday, Feb 28 2023 07:00 PM

Milbank, LLP: 55 Hudson Yards, New York, NY 10001 & Zoom | Hybrid

Watch Out for Icebergs...Some Things to Know About Lending on In-Transit Inventory! Program | February 28, 2023

Date: Tuesday, February 28th

Time: 5:00 p.m. to 7 p.m. EST | 6:00 p.m. EST Live Webinar Commencement

Location: Milbank - 55 Hudson Yards, NY & Zoom

Panelists:

David Morse, Vice Chairman/President, Otterbourg P.C., New York, New York

While 2022 saw extremes of supply chain disruption for the movement of goods around the globe, elements of that disruption continue to plague businesses. And in any event asset-based borrowers are keen to expand their borrowing base to include “goods on the water”, particularly in light of such challenges. Confronted with these demands, asset-based lenders have generally shown a willingness to include in-transit inventory in the borrowing base, so that the issue has become not so much “whether” to do so, but “how” to do so—given the obvious and not-so-obvious risks to the lender in relying on such inventory.

David Morse and colleagues from Otterbourg will talk about what the lender needs to know in facing these risks and how the documentation might address them—both from a legal and a practical perspective, including eligibility criteria, reserves, the significance of “Incoterms” and the different documents of title (and why the lender cares!), the rights of the unpaid supplier, common pitfalls, and understanding what to do when the borrower’s practices don’t particularly align with the best legal position for the lender.

We look forward to engaging with you, both in person and virtually.

Price:

- FREE for ACFA Members

- $50.00 per additional guest (the $50.00 fee goes toward price of annual membership for new members)

Price Includes:

- Light hors d'oeuvres & refreshments

- In-Person panel attendance at Milbank LLP (55 Hudson Yards, New York, NY 10001) OR virtual live webinar via Zoom

**IF PLANNING TO ATTEND IN PERSON, PLEASE FILL OUT SIGN-UP FORM ONCE POPULATED ON FEBRUARY 8th**