The Standard Formula Podcast | Developments on the Horizon for the UK Change-in-Control Regulatory Regime
Effective January 1, 2024, California’s Assembly Bill 647 will expand recall rights for grocery workers when there is a change of control in a grocery establishment. Prior to AB 647, existing law required an incumbent grocery...more
The advance of the regulation of crypto-assets and crypto-related service providers has been piecemeal in the U.K. The latest round of changes took place in the Money Laundering Regulations 2017 (MLR) on 1 September...more
Insolvency officeholders may need clearance upon appointment to entity in an affected sector. The National Security & Investment Act (NSI Act) came into force in early January, and market participants might reasonably...more
The Payroll Protection Program has been a lifesaver to many businesses this year, but its quick roll out, and many generous features (including potential forgiveness) could tempt a borrower to treat the PPP as something less...more
The Small Business Administration (SBA) recently released a procedural notice concerning when a borrower of a Paycheck Protection Program (PPP) loan may forgo SBA approval in connection with a merger or acquisition. The...more
No. On October 2, the Small Business Administration published a procedural notice on changes of ownership for PPP borrowers. One specific area where we’ve seen confusion is whether the procedural notice requires a Buyer to...more
On October 2, 2020, the SBA provided notice to PPP lenders regarding the process by which PPP borrowers may undertake a “change of ownership” while a loan is outstanding. Previously there was little guidance provided to...more
The last few months have been full of questions with no answers for companies with outstanding Paycheck Protection Program (“PPP”) loans who are interested in selling their business. Did transfer of their assets or sale of...more
On October 2, 2020, the SBA Office of Capital Access published Procedural Notice 5000-20057, which provides a framework to address whether SBA pre-approval is required for various changes of ownership under the Paycheck...more
The Treasury Department’s Office of Foreign Asset Control (OFAC) rarely backs down. Recently, in response to significant ownership and governance changes, OFAC removed three Russian companies, EN+ Group (EN+), UC Rusal plc...more
The Joint Operating Agreement (“JOA”) is one of the most important documents to be considered in relation to a direct or indirect change in the ownership of interests in any oil and gas project, whether by way of (a) a...more