'Loan Applicants Lack Standing to Sue Lenders for Claimed Violations of the CARES Act'

[Editor's note: Gary J. Mennitt is a partner in Dechert LLP's New York office, where he is co-head of Dechert’s International and Insolvency Litigation group. He concentrates on complex multinational litigation and contentious cross-border matters. He has extensive experience leading creditors’ rights, insolvency and bondholder litigation. Shmuel Vasser, also a Dechert partner in New York, has broad experience in some of the largest and most complex restructurings and reorganizations. Paul Kingsbery is a Dechert associate who focuses his practice on white collar and securities litigation.]

Introduction

In a matter of first impression, on April 13, 2020, the U.S. District Court …