M&A activity in 2023 was subdued, as dealmakers grappled with geopolitical tensions, inflation, rising interest rates, and increasing regulatory scrutiny, against a backdrop of general economic uncertainty. Challenges in the...more
1/4/2024
/ Antitrust Division ,
Artificial Intelligence ,
Big Tech ,
California Consumer Privacy Act (CCPA) ,
CFIUS ,
Data Security ,
Economic Sanctions ,
EU ,
Export Controls ,
Foreign Investment ,
Foreign Subsidies ,
Hart-Scott-Rodino Act ,
Horizontal Mergers ,
National Security ,
Popular ,
Shareholder Activism ,
State Administration for Market Regulation (SAMR) ,
UK ,
Vertical Mergers
In the wake of two bank failures last week, the Federal Deposit Insurance Corporation (“FDIC”) was appointed as receiver for each failed bank (“Receiver”). The Receiver subsequently transferred all deposits (both insured and...more
After a tumultuous few days, Silicon Valley Bridge Bank, N.A. and Signature Bridge Bank, N.A. are open to deposit and loan customers.
Early on Friday, March 10, 2023, bank regulators closed Silicon Valley Bank, the...more
On March 15, 2022, President Joe Biden signed into law the Consolidated Appropriations Act, 2022, which includes the Adjustable Interest Rate (LIBOR) Act (the “Act”). The newly passed law facilitates the transition away from...more
On Wednesday, December 8, 2021, the U.S. House of Representatives passed the Adjustable Interest Rate (LIBOR) Act of 2021, which facilitates the transition away from the London Interbank Offered Rate (LIBOR). For U.S. dollar...more
On March 24, 2021, New York State’s Senate and Assembly approved LIBOR transition legislation. New York Governor Andrew Cuomo’s consent awaits and is expected as the governor indicated his support earlier this year...more
Publication of U.S. dollar (USD) LIBOR rates used in many financial instruments may continue longer than expected. On November 30, 2020, ICE Benchmark Administration (IBA), the administrator of LIBOR, released a statement...more
As the world continues to adapt to the COVID-19 pandemic, many companies are assessing their liquidity position, general balance sheets, near-term interest payments and debt maturities. One way companies with outstanding debt...more
On Friday, March 27, 2020, President Trump signed into law the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”), which provides $2 trillion in economic stimulus for industries and individuals faced with...more
3/30/2020
/ Business Closures ,
Business Interruption ,
CARES Act ,
Coronavirus/COVID-19 ,
Federal Loans ,
Financial Stimulus ,
Paycheck Protection Program (PPP) ,
Payroll Taxes ,
Relief Measures ,
SBA ,
SBA Lending Programs ,
Small Business ,
Tax Relief ,
Unemployment Insurance
Lenders risk losing collateral and credit support and other adverse results if provisions in new loan documents restricting merger and sale of assets are not properly drafted following a recent change in Delaware law...more
After a long and at times scandalous life, LIBOR is retiring. Earlier this year, Andrew Bailey, chief executive officer of the United Kingdom’s Financial Conduct Authority (FCA), the regulator of the London Interbank Offered...more
Global M&A was sluggish in the beginning of 2016, but ended strong with a fourth quarter burst of activity. While aggregate 2016 deal volumes dropped 16% from the highs of 2015, Thomson Reuters reports that 2016 global deal...more
The increasing use of unitranche financing, both domestically and abroad, has created new opportunities for middle market loan participants. However, lenders must understand the legal issues and potential bankruptcy risks...more
8/13/2016
/ 363 Sales ,
Assignments ,
Bankruptcy Code ,
Buyouts ,
Collateral ,
Commercial Bankruptcy ,
Cross-Border Transactions ,
Debt Financing ,
EU ,
Jurisdiction ,
Lenders ,
Lien Priority ,
Middle Market ,
RadioShack ,
Risk Assessment ,
Subordinated Debt ,
Unitranche Loans ,
Voting Rights
On January 21, 2015, the U.S. Court of Appeals for the Second Circuit issued an opinion regarding a mistaken UCC-3 termination statement that all loan market participants should consider carefully. The Second Circuit held...more
In its recent decision, Executive Benefits Insurance Agency v. Arkison (In re Bellingham Insurance Agency, Inc.), the Supreme Court reiterated and expanded on the reasoning in Stern v. Marshall and made clear that a...more
The loan markets saw a continued rise in middle market unitranche financings in 2013. Unitranche loans combine separate senior and subordinated debt financings into a single debt instrument. While unitranche financing is not...more
2014 Expected to be a Stronger Year for Mergers and Acquisitions in the United States -
In 2014, the United States is expected to see an increased level of mergers and acquisitions activity, especially in the middle...more
5/12/2014
/ Acquisitions ,
Airwatch ,
Berkshire Hathaway ,
Cisco ,
Dell ,
Google ,
Heinz ,
IBM ,
Japan ,
Lenovo ,
Motorola ,
Sprint ,
Verizon ,
Vodafone