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Balance Sheets

Goulston & Storrs PC

What's Market: No Undisclosed Liabilities Representations

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In M&A transactions, unknown target liabilities are typically addressed in different ways throughout the M&A purchase agreement. A no undisclosed liabilities representation is one of the principal representations in an M&A...more

Troutman Pepper

Brokered Deposits Rule Threatens to Upend Bank Balance Sheets

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“In the worst case, these [newly designated brokered deposits] will have to get offloaded in a way that potentially puts those banks at even greater liquidity risk, especially to the extent that they have a higher...more

Latham & Watkins LLP

All’s Well for Keepwell Deeds?

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A recent ruling by the Hong Kong Court of Appeal has strengthened the robustness of keepwell deeds as enforceable English law governed obligations. The Hong Kong Court of Appeal has unanimously upheld the appeals of the...more

Conyers

Annual Returns - Preparation for Upcoming Deadlines

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As described in more detail in our recent client bulletin, BVI companies are now required to prepare and file with their registered agent an “annual return” containing a basic balance sheet and income statement. This annual...more

Mayer Brown

Liquidity Covenants To The Fore

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WHAT IS A LIQUIDITY COVENANT AND WHY IS IT INTRODUCED? A liquidity covenant is a requirement for a business to maintain a minimum amount of available cash on a balance sheet. Originally Published in Butterworths...more

Latham & Watkins LLP

Financial Statement Requirements in US Securities Offerings - Guide for Non-US Issuers

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Latham & Watkins, in collaboration with KPMG, has released 2023 guides to the financial statements required for US securities offerings. These companion guides provide US issuers and non-US issuers a roadmap to help navigate...more

Kerr Russell

U.S. Supreme Court to Address Permissibility of Non-Consensual Third-Party Releases in Chapter 11 Bankruptcy Plans

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As the calendar turns to autumn, the United States Supreme Court (“SCOTUS”) is commencing its new term and preparing to address a monumental issue that will impact chapter 11 law and the mass tort system: the permissibility...more

Husch Blackwell LLP

IRS Takes Aim at High Earners, Large Partnerships, and Corporations Using AI

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When the Inflation Reduction Act was passed last year, the legislation included massive funding increases for the Internal Revenue Service (IRS). The initial narratives regarding the funding increases focused primarily on...more

Rivkin Radler LLP

Self-Employment Tax and the Limited Partner – Substance Over Form, or Something Else?

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Last week, the IRS announced “the start of a sweeping, historic effort to restore fairness in tax compliance by shifting more attention onto high-income earners, partnerships, large corporations and promoters abusing the...more

SECIL Law

Deconstructing The SEC’S Cryptocurrency Suppression Program - Part 6: Why Cryptocurrency Companies Are Unable To Comply With...

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INTRODUCTION- This article is the sixth in a series that explains how the SEC has structured a campaign to suppress and eradicate cryptocurrency and digital tokens, why the SEC lacks jurisdiction over creators of...more

Orrick, Herrington & Sutcliffe LLP

Republican lawmakers ask about risks of customers’ digital assets on balance sheets

On March 2, Senator Cynthia M. Lummis (R-WY) and Representative Patrick McHenry (R-NC) sent a letter to the Federal Reserve Board, FDIC, OCC, and NCUA requesting input on SEC guidance issued last year that directs...more

Cadwalader, Wickersham & Taft LLP

Miami Musings February 2023 | Issue No. 211 - Fund Finance Symposium Panel Recap: The Evolving Lender Landscape & Impacts on...

Laurie Lawler (Société Générale) did a wonderful job moderating last week’s panel titled “The Evolving Lender Landscape & Impacts on Balance Sheet Management.” The panelists comprised a group of industry experts, including...more

Cadwalader, Wickersham & Taft LLP

New Year, New Opportunities - January 2023 | Issue No. 206 - FFA Miami Symposium Update

The Fund Finance Association is excited to welcome attendees to the 12th Annual Global Fund Finance Symposium, which is rapidly approaching on February 8-10 at the Fontainebleau Hotel in Miami, Florida. We are pleased to...more

J.S. Held

GAAP Compliance and an M&A Selling Party’s Closing Date Balance Sheet

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Post-acquisition Mergers & Acquisitions (“M&A”) disputes are often caused by the timing of a transaction closing and the subsequent true-up of the estimated closing date balance sheet. However, with adequate planning and...more

White & Case LLP

Key Considerations for the 2022 Annual Reporting Season: Form 20-F and Other FPI-Specific Considerations

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This memorandum outlines key considerations from White & Case's Public Company Advisory Group for foreign private issuers ("FPIs") during the 2022 annual reporting season. This memo describes our key considerations for...more

Latham & Watkins LLP

Financial Statement Requirements in US Securities Offerings: What You Need to Know - 2022 Edition

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The most frequently asked question at all-hands meetings for a securities offering is “What financial statements will be needed?” The question seems simple enough. But the answer is rarely straightforward. This User’s...more

Opportune LLP

ASC 842: Private Companies On The Clock After Delay

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Dave Loucks, Director in Opportune LLP's Complex Financial Reporting practice, discusses why private companies need to prepare now in order to comply with the impending ASC 842 lease accounting standard slated to go into...more

Latham & Watkins LLP

PE Views: Insights on the World of Private Equity - March 2021

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Creative Uses of Collateral Present New Financing Opportunities for PE - Raising fresh capital for portfolio companies in times of financial stress is always a delicate balancing act between attracting new lenders and...more

Morgan Lewis

Germany’s New Financial Market Integrity Strengthening Act

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The Financial Market Integrity Strengthening Act includes a large number of innovations aimed at strengthening confidence in the German financial market by placing more comprehensive obligations on auditors when auditing...more

Goulston & Storrs PC

No Undisclosed Liabilities Representations

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Market Trends: What You Need to Know - As reflected in the American Bar Association's Private Target Mergers and Acquisitions Deal Point Studies... Originally Published in Bloomberg Law - February 2021....more

Skadden, Arps, Slate, Meagher & Flom LLP

Corporate Sponsorship of Private Funds as an Integrated Asset Finance Platform

In recent years, investment managers sponsored by established corporate enterprises (Corporate Sponsors) and corporate sponsored funds (CSFs) have been established with increasing frequency across a range of sectors, markets...more

A&O Shearman

Wetsvoorstel transparantie maatschappelijke organisaties naar Tweede Kamer

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Overview Nieuwe verplichtingen tot verstrekken van informatie over buitenlandse giften en het deponeren van balans en staat van baten/lasten voor maatschappelijke organisaties....more

Opportune LLP

A Focus On Goodwill & Asset Impairment Testing

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Market equity prices and indices continued to decrease for many energy companies during 2020. For instance, between January 13, 2020, and December 31, 2020, the S&P Oil & Gas Exploration and Production Select Industry...more

Kramer Levin Naftalis & Frankel LLP

NY DFS Adjusts Reserving Requirements for In-Force Variable Business

New York-licensed insurers that write life and annuity products should consider possible balance-sheet implications for in-force variable business — including the ability to establish certain reserves over five years...more

Kramer Levin Naftalis & Frankel LLP

NY DFS to Amend Credit-for-Reinsurance Regs to Conform to Covered Agreements

New York-domiciled insurers may soon be able to take advantage of more-relaxed provisions on balance sheet credit for reinsurance where the assuming reinsurer is in a “reciprocal” jurisdiction to the United States. ...more

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