When Cadence Bank needed help with several complex banking matters, they called McGlinchey. Over the years, as Cadence’s needs have expanded, lawyers in other key areas were added to the team: contract review, electronic banking, regulatory compliance, bank regulatory advice, privacy and data security, asset-based lending, syndication of loans and loan sales, workouts of troubled loans, and regular, collateral-based commercial and industrial lending.

McGlinchey Stafford is pleased to congratulate the attorneys who have been promoted to Members (Partners) and Counsel within the firm as of January 1, 2021.

When debt is forgiven, as much of the funding lent through the CARES Act’s PPP may be, a lender may be required to file IRS Form 1099-C with the IRS and to furnish a copy to the borrower. As a lender, do I need to file the 1099-C when I forgive a PPP loan, or when we finalize a restructuring or settle a case alleging a violation of state or Federal lending law?