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Leslie McGowran

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Articles by Leslie McGowran

From Traditional Commercial Banking To Asset-based Lending: Key Considerations For Businesses Contemplating The Switch

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By Andrew Biderman, Leslie McGowran
| Mondaq
Welcome to Credit Insights, a periodic series of articles where members of Torkin Manes' Banking & Financial Services Group examine and discuss technical aspects of lending transactions with a focus on the legal documentation and best practices in transaction execution. In this instalment, we examine the key considerations for a business when contemplating switching from a traditional commercial banking arrangement to an asset-based lending arrangement.
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Credit Insights: VTBs In Financing Transactions - Key Considerations

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By Andrew Biderman, Leslie McGowran, Adrian Myers
| Mondaq
Welcome to Credit Insights, a periodic series where members of Torkin Manes' Banking & Financial Services Group examine and discuss technical aspects of lending transactions with a focus on the legal documentation and best practices in transaction execution. In this initial article in our series, we examine VTBs. The standard Canadian mid-market buyout transaction involves both a senior loan with a Canadian bank and the buyer contributing equity to fund the purchase price.
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Changes To The Criminal Code Rate Of Interest Rules - What It Means For You

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By Andrew Biderman, Leslie McGowran
| Mondaq
The new year will bring with it changes to the regulation of interest rates in Canada. Effective January 1, 2025, one such key change will be to the Criminal Code criminal interest rate. A new, lower, criminal rate of interest limit will now be set for loans, subject to various exemptions/carve outs. In our view, the most important change is that business/commercial purpose loans to corporate borrowers in excess of $500,000 will not be subject to any interest rate cap.
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