On March 11, 2021, President Biden signed the American Rescue Plan (the Rescue Plan) into law. The $1.9 trillion package is the third law enacted to aid the economy and struggling Americans as the COVID-19 pandemic continues...more
The recently enacted $2.3 trillion Consolidated Appropriations Act, 2021 (the Act), which combined a $900 billion coronavirus relief bill as part of a larger $1.4 trillion omnibus spending and appropriations bill for the 2021...more
The economic impact of the global COVID-19 pandemic will likely result in a considerable number of borrower defaults, workouts and debt restructurings. An often overlooked but significant consequence of debt modifications or...more
6/26/2020
/ Borrowers ,
Cancellation of Debt (COD) ,
Coronavirus/COVID-19 ,
Debt Restructuring ,
Fair Market Value ,
Forbearance Agreements ,
Foreclosure ,
Internal Revenue Code (IRC) ,
IRS ,
Lenders ,
Residential Property Owners ,
Settlement Agreements ,
Treasury Regulations
Creditors facing a cascade of distressed credit facilities resulting from the economic fall-out from the COVID-19 pandemic will need experienced counsel at all stages of workouts, from preliminary discussions through the...more
In support of financial institutions and borrowers during the COVID-19 pandemic, the newly enacted Coronavirus Aid, Relief, and Economic Security Act (CARES Act) includes a number of provisions permitting lenders to suspend,...more
The word "looming" seems to have become very popular during the past several years within the context of describing potential commercial credit maturities and defaults and, more recently, a potential recession. "Looming" may...more