On Wednesday, June 24, 2020, the Davis & Gilbert Insolvency, Creditors' Rights & Financial Products practice group and authors of Credit Chronometer will be presenting a webinar focused on the subprime auto market. Industry players — originators, investors, servicers, trustees and their advisors — will especially find topics discussed of interest.
Joseph Cioffi’s article, “Lessons Learned in RMBS Litigation Will Steer Sub-prime Auto Litigation,” was published in Non-Prime Times, the official publication of the NAF Association.
Joseph Cioffi was quoted in a Structured Credit Investor article, "Perfect Storm: Hertz Bankruptcy to Reshape Auto ABS?”
“It’s over, Anakin, I have the high ground.” — Obi-Wan Kenobi, Star Wars Episode III: Revenge of the Sith Last January, we reported on the Office of the Comptroller of the Currency’s (OCC) proposal to codify the “valid when made” rule—a longstanding doctrine that has served as the bedrock for bank lending for nearly two centuries—which, in 2015, was thrown under the bus by the Second Circuit in...
Joseph Cioffi was quoted in a CCN.com article, "The Auto-Appocolypse Could Shove the U.S. Economy Off a Cliff.”
Positioned squarely at the intersection of the used vehicle market, auto ABS and the effects of the coronavirus crisis on American’s mobility is the Hertz bankruptcy filing. Similar to the large bankruptcies, marking the 2008 financial crisis, such as Lehman Brothers and WAMU, which shaped the financial sector’s recovery, the outcome of the Hertz bankruptcy is likely to impact the direction of...
A review of market performance since the start of the COVID-19 crisis could lead one to ponder a new existential question: Can there be pending doom, if there’s no gloom?
