Security News
Modification to Lender Subordination Agreement Barred by Statute of Frauds
UnknownMar 3, 2026(18 days ago)
The U.S. Court of Appeals held that an oral modification of a subordination agreement was barred by the statute of frauds relating to credit agreements under state law.
In Pack Private Capital, LLC v. Associated Bank, N.A., 155 F.4th 981 (8th Cir. 2025), the U.S. Court of Appeals for the Eighth Circuit held that an oral modification of a subordination agreement was barred by the statute of frauds relating to credit agreements under state law. The decision is a reminder that changes to subordination agreements often need to meet specific legal requirements to be enforceable.... By: Loeb & Loeb LLP