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Insolvency Liquidity

ArentFox Schiff

Avoiding Collateral Damage: Lessons of Lehman [Part II]

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In light of the banking failures of Silicon Valley Bank, Signature Bank and First Republic (as well as Credit Suisse), this summer, the Federal Reserve and the FDIC proposed guidance and rules for larger banks to (i) develop...more

Seward & Kissel LLP

Net Asset Value Credit Facilities: Key Issues And The Current Market

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Net asset value based credit facilities (“NAV Facilities”) are credit facilities pursuant to which the availability thereunder is based on the net asset value of the investments of the borrower, typically a private fund. The...more

Walkers

Cayman fund governance in times of market turbulence – 2023 update

Walkers on

While standard governance principles continue to apply (and should be followed) throughout the lifetime of a fund, the board of directors must be prepared to adapt governance practices and, for example, revisit discussions...more

Nutter McClennen & Fish LLP

Nutter Bank Report: March 2023

President Recommends Regulatory Reforms to Address Recent Bank Failures - President Biden has issued a statement urging the federal banking agencies to adopt regulatory reforms that are meant to reduce the risk of future...more

Proskauer - The Capital Commitment

Portfolio Companies in Distress: Navigating the Risks from SVB and Other Threats to Liquidity and Solvency

Everything, everywhere, all at once is our risk thesis for 2023, but one must not forget about concentration risk. This issue has rocketed up diligence agendas for LPs and GPs alike as the collapse of Silicon Valley Bank...more

Proskauer Rose LLP

Dealing with a Swap Dealer in Distress

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Over the past several weeks, the markets have been roiled by banks in financial distress. Some banks have received influxes of capital, while others were taken over by regulators or a competitor. Banks and the global economy...more

Morrison & Foerster LLP

Liquidity Crises and Fiduciary Duties of Directors of Early-Stage Companies

The FDIC receiverships of Silicon Valley Bank and Signature Bank have caused certain early-stage companies to face potentially crippling near-term liquidity issues. These liquidity issues may result in a company becoming...more

Mayer Brown Free Writings + Perspectives

Maintaining Perspective: Governance and Disclosure Reminders for Public Companies

Companies will be affected in a variety of ways by the receivership of Signature Bank, Silicon Valley Bank or any other similarly situated financial institution. Companies may face difficulty accessing bank facilities or the...more

Morrison & Foerster LLP

Five Tips for Investor Directors in the Zone of Insolvency

There are distinct advantages to investors sitting on the boards of their portfolio companies, not least their ability to look after their investment and work toward maximising their return. The human capital provided by...more

White & Case LLP

Liquidity and refinancing

White & Case LLP on

Looking at the current picture, 60 percent of respondents globally say that the aviation finance sector does not have enough capital and liquidity. Meanwhile, 32 percent believe that the sector has just the right amount of...more

White & Case LLP

State of the art of the Italian liquidity measures - Keeping Italian Companies Alive?

White & Case LLP on

Since March 2020, the Italian Government has enacted a package of measures designed to help Italian businesses survive the dramatic effects of the coronavirus ("COVID-19") pandemic. The measures include guarantee schemes from...more

Proskauer - The Capital Commitment

Portfolio Company Insolvency: Risk Mitigation Strategies for Fund Sponsors and Board Designees

COVID-19 continues to disrupt normal business operations, creating liquidity problems and negative working capital for many companies. As fund sponsors take actions to help their portfolio companies navigate through this...more

White & Case LLP

Market reset could trigger restructurings in 2021

White & Case LLP on

HEADLINES - In March 2020, credit insurer Euler Hermes forecast a 43% increase in insolvencies in the UK in 2021, as well as a 26% uptick in France and 12% in Germany. - By December 2020, ratings agency S&P was...more

Proskauer - The Capital Commitment

Ten Tips for Navigating Risks and Liability at Portfolio Companies During COVID-19

Many portfolio companies continue to confront business disruptions as a result of the COVID-19 pandemic. Even prior to the pandemic, we were seeing an uptick in litigation claims against sponsors and funds arising out of...more

Holland & Hart LLP

Is Now a Good Time to Acquire a Business? Opportunities and Risks for Buyers in the Era of COVID-19

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The long seller’s market may be over, which is welcome news for many companies that are eager and able to acquire or expand a business. Many businesses and business owners have struggled mightily under the COVID-19...more

Akin Gump Strauss Hauer & Feld LLP

[Podcast] UK Financial Restructuring During COVID-19

The economic landscape has changed immeasurably as a result of the COVID-19 pandemic. Access to cheap credit has disappeared, and many companies have raced to draw down on existing facilities in an effort to access as much...more

McDermott Will & Emery

Special Report - COVID-19 Update: Adrressing Liquidity Risk - April 2020

McDermott Will & Emery on

This document provides a summary of the policy changes that have been announced in multiple jurisdictions in response to the COVID-19 crisis. We have selected the most relevant topics, which may be of interest for managing...more

Skadden, Arps, Slate, Meagher & Flom LLP

COVID-19: Germany Update — Suspension of Obligation To File an Insolvency Application and Certain Effects

The following article is the translation of an associated podcast, which is available in German... With the intention of mitigating the effects of the COVID-19 pandemic, the obligation of companies in Germany to file...more

White & Case LLP

Extraordinary Moratorium and Other Measures in the Czech Republic

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Analysts expect that GDP will plummet as a consequence of the restrictions on economic activities imposed as a consequence of the COVID-19 pandemic, and that the global economy, and with it the Czech economy, will slow down...more

Skadden, Arps, Slate, Meagher & Flom LLP

UK Directors COVID-19 Update

As the coronavirus/COVID-19 crisis deepens, U.K. businesses are facing significant challenges. Many companies are having to react to mandatory operating restrictions, dramatic drops in demand, strained liquidity and...more

Hogan Lovells

EU Commission adopts Temporary Framework for State aid to support the economy in the current COVID-19 outbreak and approves...

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The COVID-19 pandemic has hit the European economy with brute force. Many businesses are facing drastic declines in revenues and are in urgent need of liquidity. Some have imposed temporary lay-offs or even face insolvency. ...more

Foley Hoag LLP

A Borrower’s Response to COVID-19

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What should a borrower be doing about its credit facility as a result of shut-downs and loss of revenues from the COVID-19 disruptions? The borrower’s primary concern is to ensure sufficient liquidity, particularly if the...more

Dechert LLP

Covid-19 Coronavirus: Protective Shields to Mitigate Impact for Companies and Employees

Dechert LLP on

An Overview of Measures Enacted or Envisaged by the German Government - The current outbreak of COVID-19 coronavirus, recognized by the World Health Organization as a global pandemic, has already had a material impact on...more

Goodwin

COVID-19 Briefing – Germany Agrees to Unprecedented Package to Protect Businesses

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On 13 March 2020, the German government agreed on a far-reaching package of measures to protect companies and businesses in the German market. The central message is that the Federal State (Bund) and the provinces...more

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