merica is a great country. When
you look at the news headlines
you may question that statement
due to the continued high
and bankruptcies still on the
rise, continued access to capital
challenges, the end of the great
healthcare “debate”, etc., but
America is a great country and
the foundation for its greatness
was laid over 200 years ago by
our founding fathers. One of
the fundamental reasons for
our greatness is that we are
governed by the rule of law.
Appropriately so, this issue
of The Secured Lender is
dedicated to legal issues.
Lawmaking can be “festive” at times.
A perfect example of this is the recent
healthcare reform bill, but the process,
the opportunity for all voices to be
heard, is what makes the system great.
Speaking of healthcare, while we are all
hopeful that the horizon will be bright
and sunny, we must be prepared to deal
with the realities of facilities or systems
that go into bankruptcy. Our article,
Receivership Saves Healthcare Facilities
From Creditors And Closing by Michael
Sandnes, on page 48 talks about when
a healthcare facility or system needs to
file for Chapter 11 protection, receivership is becoming a preferred and valued
restructuring vehicle over Chapter 11
because of its viability as the most cost-effective option, one preferred by many
senior executives and lenders.
Speaking of bankruptcy, don’t miss
TSL’s interview with legendary bankruptcy attorney, Harvey Miller, on page 28.
I always enjoy watching the debates
in Congress on CSPAN as well as the
House of Commons in the United Kingdom. We have our version of tuning in
to a conversation in our Participations
section on page 16. This month we have
three leading commercial finance attorneys discussing the current trends in
commercial finance law.
We continue our story of the The LI-
BOR Controversy Part II: Focusing Atten-
tion on Basis Risk and Loan Profitability
by Michael Carsella, on page 44. This is
the conclusion of a two-part series dis-
cussing the recent controversy over how
the calculation of LIBOR raised the gen-
eral awareness of finance professionals
of the workings of an interest rate index
that has become hugely important, but
And whether you are looking to network with
prospective employers or to connect with valued
colleagues, CFA’s Annual Convention is the place to be.
Andrej Suskavcevic, CAE
chief executive officer