Comments
yourfanat wrote: I am using another tool for Oracle developers - dbForge Studio for Oracle. This IDE has lots of usefull features, among them: oracle designer, code competion and formatter, query builder, debugger, profiler, erxport/import, reports and many others. The latest version supports Oracle 12C. More information here.
Cloud Computing
Conference & Expo
November 2-4, 2009 NYC
Register Today and SAVE !..

2008 West
DIAMOND SPONSOR:
Data Direct
SOA, WOA and Cloud Computing: The New Frontier for Data Services
PLATINUM SPONSORS:
Red Hat
The Opening of Virtualization
GOLD SPONSORS:
Appsense
User Environment Management – The Third Layer of the Desktop
Cordys
Cloud Computing for Business Agility
EMC
CMIS: A Multi-Vendor Proposal for a Service-Based Content Management Interoperability Standard
Freedom OSS
Practical SOA” Max Yankelevich
Intel
Architecting an Enterprise Service Router (ESR) – A Cost-Effective Way to Scale SOA Across the Enterprise
Sensedia
Return on Assests: Bringing Visibility to your SOA Strategy
Symantec
Managing Hybrid Endpoint Environments
VMWare
Game-Changing Technology for Enterprise Clouds and Applications
Click For 2008 West
Event Webcasts

2008 West
PLATINUM SPONSORS:
Appcelerator
Get ‘Rich’ Quick: Rapid Prototyping for RIA with ZERO Server Code
Keynote Systems
Designing for and Managing Performance in the New Frontier of Rich Internet Applications
GOLD SPONSORS:
ICEsoft
How Can AJAX Improve Homeland Security?
Isomorphic
Beyond Widgets: What a RIA Platform Should Offer
Oracle
REAs: Rich Enterprise Applications
Click For 2008 Event Webcasts
In many cases, the end of the year gives you time to step back and take stock of the last 12 months. This is when many of us take a hard look at what worked and what did not, complete performance reviews, and formulate plans for the coming year. For me, it is all of those things plus a time when I u...
SYS-CON.TV
SBA Shuts Down EDF Resource Capital: Important Lessons for Guarantors

SACRAMENTO, Calif., Jan. 17, 2013 /PRNewswire/ -- Hackard Law attorneys regularly represent borrowers and guarantors in negotiation with and litigation against lenders. By the time our law firm is engaged, it's not unusual that "the wolf is at our client's front door", and there's limited time for deliberation. Yet a recent case illustrates that an entire wolf pack might also be at the lender's door.

(Photo: http://photos.prnewswire.com/prnh/20130117/SF44593)

(Logo: http://photos.prnewswire.com/prnh/20121023/SF98552LOGO)

EDF Resource Capital, Inc. ("EDF") v. United States Small Business Administration ("SBA") et al. brings the need for lender knowledge to life. EDF was an SBA-authorized Certified Development Company (CDC). As such it was allowed to arrange, close, service and when necessary collect on SBA 504 Loans. EDF, on behalf of the SBA, received processing and closing fees for both originating as well as servicing 504 Loans. Since 2006, EDF has received over $49 million in fees from its participation in the 504 Loan Program. It had the "second largest SBA 504 Loan portfolio of the CDCs currently participating in the 504 Loan Program." But there were, according to the SBA, "significant problems in EDF's systems or controls, deceptive action, substantial law violation, serious compliance problems, and serious reporting failures." Such problems resulted in EDF's closure. An intensive review of SBA's Agency Decision regarding EDF Resource Capital, Inc. is a must-read for EDF borrowers and guarantors seeking to know their lenderi.

EDF as a lender in its final months or years of operation was in a precarious position. The SBA record reveals it was insolvent and was not paying the millions that it owed on its SBA reimbursement obligations. EDF was maintaining two sets of accounting books and records: one disclosed to the SBA and one notii. Such conduct hid from the "SBA the status of hundreds of defaulted loans, thus knowingly painting a materially incomplete, misleading and falsely positive picture of its Loan Loss Reserve Fund and of the Fund's ability to protect SBA from the risk of loss."

The SBA's Final Agency Decision indicates that EDF refused to pay its payment and loss share obligations.  The decision recites that "the nature, extent and severity of EDF's breaches and violations, including the dollar magnitude of the risk, EDF's insolvency, the unwillingness of EDF's management and board to correct identified problems, and program integrity considerations, all warrant the permanent revocation of EDF's 504 program authority and require the permanent transfer of EDF's SBA 504 Loan portfolio."

Borrowers and guarantors attempting to negotiate loan settlements with EDF experienced the same type of deceptive actions as those referenced by the SBA. The Final Agency Decision, coupled with a Federal Judge's Memorandum Opinion, go a long way for EDF borrowers and guarantors to know their lender.

Avvo Profile
http://www.avvo.com/attorneys/95655-ca-michael-hackard-226264.html

i Expanded Analysis: http://bellainstitute.wordpress.com/2013/01/17/sba-shuts-down-edf-resource-capital-important-lessons-for-guarantors/

ii http://www.sba.gov/sites/default/files/files/EDF%20Final%20Agency%20Decision%20Document%20(12-17-12).pdf

SOURCE Hackard Law

About PR Newswire
Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

SOA World Latest Stories
SimpleECM is the only platform to offer a powerful combination of enterprise content management (ECM) services, capture solutions, and third-party business services providing simplified integrations and workflow development for solution providers. SimpleECM is opening the market to bus...
One of the more popular methods of dealing with not just with the explosion of devices but the growing challenge of dealing with growth of compute devices under management in general is virtual desktop infrastructure (VDI). While VDI has been overshadowed of late by newer and shinier T...
The only place to be June 9-11 is Cloud Expo & @ThingsExpo 2015 East at the Javits Center in New York City. Join us there as delegates from all over the world come to listen to and engage with speakers & sponsors from the leading Cloud Computing, IoT & Big Data companies. Cloud Expo ...
To manage complex web services with lots of calls to the cloud, many businesses have invested in Application Performance Management (APM) and Network Performance Management (NPM) tools. Together APM and NPM tools are essential aids in improving a business’s infrastructure required to s...
SAP is delivering break-through innovation combined with fantastic user experience powered by the market-leading in-memory technology, SAP HANA. In his General Session at 15th Cloud Expo, Thorsten Leiduck, VP ISVs & Digital Commerce, SAP, will discuss how SAP and partners provide clo...
Software AG helps organizations transform into Digital Enterprises, so they can differentiate from competitors and better engage customers, partners and employees. Using the Software AG Suite, companies can close the gap between business and IT to create digital systems of differentiat...
Subscribe to the World's Most Powerful Newsletters
Subscribe to Our Rss Feeds & Get Your SYS-CON News Live!
Click to Add our RSS Feeds to the Service of Your Choice:
Google Reader or Homepage Add to My Yahoo! Subscribe with Bloglines Subscribe in NewsGator Online
myFeedster Add to My AOL Subscribe in Rojo Add 'Hugg' to Newsburst from CNET News.com Kinja Digest View Additional SYS-CON Feeds
Publish Your Article! Please send it to editorial(at)sys-con.com!

Advertise on this site! Contact advertising(at)sys-con.com! 201 802-3021


SYS-CON Featured Whitepapers
ADS BY GOOGLE