Category: Merchant Cash Advance Loans

Bankruptcy Code Transforms Merchant Cash Agreements Into Security Agreements For Bankruptcy Administration Purposes

Garden variety transformation (Photo by Marilyn Swanson) By: Donald L Swanson Merchant cash agreements (“MCAs”) purport to be a sale of a merchant’s future accounts receivable to the MCA lender for a specified price, to be paid over time from the proceeds of the merchant’s future accounts receivable. Issues exist under state law on whether MCAs... Continue Reading →

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Merchant Cash Advance Loans As “Unlawful Debt” For RICO Liability? (Golden Foothill v. Spin Capital)

An old path (photo by Marilyn Swanson) By: Donald L Swanson RICO “It shall be unlawful for any person who has received any income derived, directly or indirectly, from a pattern of racketeering activity or through collection of an unlawful debt in which such person has participated as a principal . . . ” From the “Racketeer... Continue Reading →

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