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  • Fagnani_forweb-150 PART 1: Allou – A Firsthand Account of a Massive ABL Fraud
    Jun 29, 2021

    Allou Healthcare was one of the biggest frauds ever perpetrated against ABL lenders. What follows is a description of the case from an individual who was directly involved from day one. TSL will be publishing the entire article in two installments. In Part One, you will read how the fraud was perpetrated and how it was discovered. In the second installment, to be published in our September issue, you will read all the steps taken by the lenders and their team of professionals to recoup the loan and to punish the wrongdoers. This is a rare firsthand account of a significant fraud and you won’t want to miss it.

  • TSL Interview: Siena Healthcare Finance
    Oct 9, 2019

    In September, Siena Lending Group, ("Siena") announced the expansion of its national commercial lending capabilities with the launch of Siena Healthcare Finance. This new division of Siena will provide a broad range of asset-based lending solutions for small to mid-sized healthcare companies and other service providers.

    Siena has hired Jennifer Sheasgreen to be president of Siena Healthcare Finance. Edward Kauffman will join the division as managing director in charge of new business originations. Sheasgreen and Kauffman have worked together since 2008 and have had a successful track record of building healthcare business units from the ground up.

    Here, David Grende, president and CEO of Siena Lending Group, along with Sheasgreen and Kauffman discuss the new venture. 


  • iStock-939859226 Guarded Optimism Prevails as Executives Chart the Future
    Aug 1, 2019

    Strengthening Bank Relationships Is Crucial to Seize Business Opportunities in the Potential Economic Downturn

  • iStock-939859226 Interview with BMO’s Michael Ganann and Mike Scolaro
    Aug 1, 2019

    In May, BMO Harris Bank announced that it had hired Michael Ganann as Managing Director, Retail Originations, Asset-Based Lending.  In this role, he will lead the coverage efforts in calling nationwide on BMO clients and prospects in the retail industry.

  • New Accounting Standards Can Significantly Impact Credit Agreements
    May 1, 2019
    New accounting standards for leases can have unintended consequences on debt covenants and financial ratios in credit agreements. Under the new rules (Accounting Standards Codification Topic (“ASC”) 842 and International Financial Reporting Standard (“IFRS”) 16), nearly all operating leases, in addition to finance leases (formerly, capital leases), are required to be recognized as a liability on the balance sheet of a lessee if the lease term is greater than twelve months.
  • Gordon Brothers’ Expansion in Australia
    May 1, 2019
    Gordon Brothers, the global advisory, restructuring and investment firm, continued expanding its presence in Australia with the opening of a Perth office in January. The office is led by equipment valuation and auction industry veteran, Ben Gibson and will support the firm’s increasing activity across Western Australia. The Perth location is the third Australian office opening in two years for Gordon Brothers, which entered the market in 2017. 

    The Secured Lender caught up with three of Gordon Brothers’ Australian executives who discussed the potential for ABL in Australia and the firm’s plans moving forward.
  • Surprise! Where Did My Collateral Go (Again)? The Chewy.com Story
    Apr 1, 2019
    By now, many lenders have heard of the steps taken by J. Crew to remove its valuable intellectual property from the collateral securing its term loans and asset-based credit facilities through a clever (although disputed) use of the transactions permitted under the negative covenants included in the credit agreements governing such credit facilities (the “baskets”).
  • Indications of Underlying Vulnerability in the Motor Coach Industry
    Mar 13, 2019
    Sitting in my office at Hilco Valuation Services on a brisk March day earlier this year, I put the phone down and headed into the hallway to share some surprising information with a colleague. That day alone, I had received three separate inquiries from around the U.S., all pertaining to potential valuation and liquidation engagements within the Motor Coach industry. By Bryan Courcier

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