RICK L. KNUTH is the keeper of the Banking and Finance Law Spotlight Site.

Rick's practice focuses on assisting institutional and private lenders and borrowers in asset-based loan transactions, real estate financing, accounts receivable and inventory-based financing. He has over 30 years experience in loan documentation, mortgage and trust deed foreclosures, loan participations, credit opinion letters, workouts, and insolvency proceedings of all kinds. He counsels banks large and small in all aspects of their commercial credit relationships.

Look for postings by the other attorneys in our Commercial Lending and Banking Practice Group.

Keven M. Rowe (Group Leader)
Tom Berggren
Rick L. Knuth
Kyle V. Leishman
James W. Peters
Susan B. Peterson
Jacob Redd
George R. Sutton
Glen D. Watkins
Randon W. Wilson

Published Articles

"Fraudulent Checks- the 'Same Wrongdoer' Defense"
by Rick L. Knuth

Originally Published in Utah Banker Magazine Fall 2013.

Important Resources

Welcome to the BANKING AND FINANCE LAW Spotlight Site.

Here you will find interesting information on trends and issues in the banking industry--especially with respect to the law and regulatory matters.

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Attorney George Sutton published in today's (March 18, 2013) American Banker
Posted on Mar. 18, 2013

George Sutton's article on how US policy creates growth for big banks, while restricting it for small banks, hit today in the online edition of American Banker.

According to Sutton, "Three things are driving the growth of large banks: market demand, access to capital and regulatory burden. Failing to consider these in the rush to break up "too big to fail" banks could force critically important financial services to move offshore or to less stable nonbank competitors."

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Why Bankers Should Use Pre-Negotiation Agreements
Posted on Feb. 19, 2013

A pre-negotiation is a simple contract that the borrower and lender sign before starting substantive discussions over a troubled credit relationship. Pre-negotiation agreements can be more or less comprehensive, depending on the complexity of the credit relationship. For simple loan modifications they are often in the form of a simple letter, countersigned by the borrower. However they are structured, though, the lender benefits in two important ways: (1) The pre-negotiation agreement helps protect the lender from claims that a binding agreement was reached when it hasn’t been; and (2) it communicates to the borrower the seriousness of the situation and can help modulate the borrower’s expectations of the work-out or loan-modification process.

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George Sutton Featured in Utah Business Magazine
Posted on Jan. 29, 2013

Banking and finance attorney George R. Sutton is featured in the January issue of Utah Business. George participated in a round table discussion for the magazine's banking and finance industry outlook section.

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JUNIOR TRUST DEEDS IN CHAPTER 13; What to do when the Notice of Bankruptcy Arrives
Posted on Jan. 16, 2013

Every banker's heart sinks a little when a second trust deed borrower files a Chapter 13 case. You think, "There goes another one--into the non-accrual void--that I'll never see again."

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Posted on Oct. 29, 2012

There are two major ways a lender can declare a covenant default, that is, a default that results not from the failure to make a loan payment, but one that results from a change in the borrower’s financial condition. Typical commercial loan documents require the debtor to maintain certain minimum financial conditions, such as specified levels of inventory, debt coverage, net cash on hand and the like. Pretty boring stuff. The pinch point for the loan parties is how to craft the loan documents so that the lender’s need to declare a default in the face of a borrower’s deteriorating financial condition is balanced by the borrower’s need to have some measure of predictability.

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Another Proposal to Simplify the Volcker Rule
Posted on Sep. 27, 2012

We can only speculate about the real purpose for the Volcker Rule.  It is generally acknowledged that the kinds of proprietary trading targeted by the Rule did not cause or contribute to the Great Recession.  The rationale that banks should not be allowed to use insured deposits to engage in high risk speculative trading is bogus because depository banks were never allowed to do that under laws predating the Volcker Rule by decades.  The real target of the Rule is trading activities of bank affiliates.

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In Lieu Of Foreclosure
Posted on May. 2, 2012

The current troubles in the credit markets, especially for sub-prime loans, means that many in the money trade will need a refresher on the comparative benefits and drawbacks of short sales and deeds in lieu. Bankers and credit managers are about to be overloaded with calls like this: The borrower can’t make the payments and needs to unload the property, but it won’t move at a price significantly over the secured debt.

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The New Utah Uniform Assignment of Rents Act
Posted on May. 2, 2012

May 12, 2009 sees the effectiveness of the Utah Legislature’s adoption of its version of the Uniform Assignment of Rents Act, Utah Code Ann. § 57-26-101, et seq. This statute, recommended by the National Conference of Commissioners on Uniform State Laws, and already enacted by Nevada and under consideration in several other states, will be a useful addition to Utah banking law.

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Customizing the Bank Guarantee
Posted on Apr. 25, 2012

Guarantees are often an after-thought in commercial loan transactions: Lenders tend to focus more on the collateral, and borrowers tend to assume that the form of guarantee is non-negotiable.

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Rick Knuth is a member of the American College of Mortgage Attorneys.

George Sutton was recognized in 2012 as Utah Attorney of the Year in Financial Services Regulation Law by Best Lawyers in America.

Rick Knuth was recognized in 2012 as Utah Attorney of the Year in Banking and FinanceLaw by Best Lawyers in America.

All eligible attorneys in this group are ranked AV Preeminent by Martindale-Hubbell.

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Utah Association of Financial Services

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Utah Banker's Association

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