The Internal Revenue Service (IRS) issued Revenue Procedure 2021-12 on January 14, extending the safe harbors in Revenue Procedures 2020-26 and 2020-34 to September 30, 2021. This LawFlash discusses the portion of Revenue...more
The implications of the 2020 election for structured finance are coming into focus. Informed by our discussions in Washington, we can anticipate the likely direction of federal policy over the next two years that will impact...more
Brexit: HM Treasury update on financial services Brexit statutory instruments HM Treasury has published an update on its work relating to statutory instruments (SIs) laid, or to be laid, under the European Union (Withdrawal)...more
In what we understand to be the first state law to do so, California’s Assembly Bill 913 (AB913), which was enrolled on September 4, 2020, amends Section 850 of the Public Utilities Code to allow electrical corporations to...more
On 24 July 2020, the European Commission (the “Commission”) published its proposed amendments to the current securitisation framework set out in Regulation (EU) 2017/2402 (the “Securitisation Regulation”)....more
The coronavirus disease (COVID-19) has created disruption in cash flows across a wide range of commercial real estate assets that has resulted in property owners requesting forbearance or other modification relief with...more
The Internal Revenue Service (IRS) issued Revenue Procedure 2020-26 on April 13, 2020, providing relief to certain securitization vehicles, including investment trusts and real estate mortgage investment conduits (REMICs),...more
While lessons learned from previous crises suggest that well-designed structures are resilient under stressed circumstances, the COVID-19 crisis presents new challenges for European ABS. Governments across the globe...more
It has been reported that the UK Treasury is considering a new bailout mechanism for privately held companies in sectors seen as making "a material contribution" to the UK economy, which would take the form of one or more...more
The Internal Revenue Service on Monday, April 13 issued welcome relief to the securitization industry, providing that certain forbearances and related modifications to mortgages will generally not cause real estate mortgage...more
As a result of the COVID-19 virus, local governments in California are facing sudden, unexpected, unprecedented, dramatic shortfalls or delays in a number of their core revenue streams, in some cases combined with...more