Fiduciary Duty In Loan Participation Agreements Not Owed Without Explicit Language

LexisNexis (November 30, 2022, 2:35 PM EST) -- In the setting of a loan participation, a fiduciary duty is not owed by the lead bank to participant banks unless there is explicit language in the participation agreement creating the duty. The rule is well-recognized. Yet, it is often overlooked in the drafting process....