Paper Returns: Due to volume during the filing season, it takes 10 - 12 weeks to process paper returns. Until the return is processed, your return will not appear on our computer system and we will not be able to check its status or to give you information about your refund.
It is easy to assume that a lead bank offering a loan participation is knowledgeable about the industries it is underwriting. Bank management should keep in mind that credit memorandums are designed to gain approval by the board loan committee and may oversell the positives.
However, there is useful judicial guidance on the subject. While the U.S. Supreme. Court has not addressed this specific issue, lower courts have held that, absent unusual circumstances, loan. participations and syndications are not securities.