The Impact of War on Commercial Contracts and the Global Supply Chain
Monthly Minute | Due Diligence Considerations Related to COVID-19
MAE Clauses: Troutman Sanders and Pepper Hamilton COVID-19 Litigation Podcast Series
The Supreme Court of New South Wales has recently handed down its decision in proceedings (“Arrium Proceedings”) brought by a number of lenders against former officers and employees of Arrium Limited and its subsidiaries...more
With the COVID-19 pandemic continuing to adversely impact businesses across the globe, for the past year lenders have been reviewing their portfolios for credit degradation. Credit agreements will often contain a clause in...more
You’ve made it to the end of the quarter, and now it’s time to prepare your quarterly financial statements and send them off to your lender. Until recently, you may not have paid close attention to certain provisions in the...more
Although Material Adverse Change (“MAC”) clauses are quite prevalent in loan and financing documents, there is very little case law in Maryland dealing with the successful or unsuccessful enforcement of these clauses. With...more
The MAC provision - A material adverse change (“MAC”) provision (depending on where or how it is used) typically references a material adverse change in the business, assets, properties, liabilities, operations, condition...more
We give an overview of the possible effects of the corona crisis on existing facility agreements under German law if borrowers get into financial difficulties due to the crisis. ...more
Our London Finance team highlights some of the potential defaults that may arise under CRE facility agreements and some other issues that may need to be tackled as the impact of the coronavirus pandemic continues to filter...more
The COVID-19 pandemic and the responses adopted by governments around the world to mitigate its human cost will have a considerable impact on economic activity. We are seeing the forced closures of businesses and restrictions...more
The impact of COVID-19 is developing fast across the globe and across industries. We outline a selection of the issues which we are currently busy discussing with lenders, sponsors and portfolio businesses in various...more
Access to credit is a question of paramount importance to borrowers navigating uncertain times, and as market participants work to assess the impact of COVID-19 on the broader economy, the question has arisen as to whether...more
Key Points - Material adverse change (MAC) provisions focus on whether prevailing events and circumstances have a material adverse effect on the borrower. - Case law suggests the key reference materials for assessing...more
As the nation engages in social distancing and takes other steps to attempt to slow the spread of COVID-19, players in the commercial real estate space are considering what impacts the virus will have on their business and...more
The fallout from the World Health Organization-declared global pandemic arising from the coronavirus disease (“COVID-19”) is currently having, and will certainly continue for some time to have, severe impacts on almost all...more
On March 11, 2020 the World Health Organization (WHO) declared the COVID-19 outbreak to be a pandemic. At a briefing in Geneva, WHO Director-General Tedros Adhanom Ghebreyesus explained the decision: “In the past two weeks,...more