Preparing for the LIBOR Phase Out: Contract Remediation Starts with Contract Intelligence
August 01, 2020
The London Interbank Offered Rate has long been the global basis for agreements that include a variable interest rate component. However, LIBOR would be replaced by other benchmarks by the end of 2021. Key to assessing risk of exposure, quantifying the financial impact, developing remediation plans and communicating material information to stakeholders will be the identification, analysis and remediation of LIBOR-based contracts.
The ABCs of Assignments for the Benefit of Creditors (ABCs)
July 31, 2020
General assignments for the benefit of creditors (ABCs) have been and continue to be a popular business liquidation device for the orderly wind down of corporations, limited liability companies, and even nonprofit corporations and general partnerships. Just as in bankruptcy, an ABC can also be used to facilitate a going-concern sale of the debtor's assets to a third-party. Includes an interactive state-by-state map.
Preparing for the LIBOR Phase Out: Contract Remediation Starts with Contract Intelligence
July 01, 2020
The London Interbank Offered Rate has long been the global basis for agreements that include a variable interest rate component. However, LIBOR would be replaced by other benchmarks by the end of 2021. Key to assessing risk of exposure, quantifying the financial impact, developing remediation plans and communicating material information to stakeholders will be the identification, analysis and remediation of LIBOR-based contracts.
Preparing for the LIBOR Phase Out: Contract Remediation Starts with Contract Intelligence
July 01, 2020
The London Interbank Offered Rate has long been the global basis for agreements that include a variable interest rate component. However, LIBOR would be replaced by other benchmarks by the end of 2021. Key to assessing risk of exposure, quantifying the financial impact, developing remediation plans and communicating material information to stakeholders will be the identification, analysis and remediation of LIBOR-based contracts.
What TARP Investigations Can Teach Us About Stimulus Fraud
July 01, 2020
For more than 10 years, federal investigators have investigated criminal conduct in connection with the 2008 recession-era TARP program. From those investigations, U.S. Attorneys across the country brought cases and earned convictions for offenses spanning the federal criminal code. We can expect that these same agencies will use the same techniques and strategies to investigate crimes and bring cases involving fraud related to the COVID-19 stimulus packages.
CARES Act Puts Inspectors General Back in the Spotlight
June 01, 2020
IGs have been part of the federal landscape for more than 40 years, so why all the fuss now? The answer is that they are a key element of the government's built-in mechanisms for protecting the nation's public treasury, and a relief package of this scope strongly indicates that the IGs and the new oversight bodies will spend many years scrutinizing funds spent under it.
Players On the Move
June 01, 2020
A look at moves among attorneys, law firms, companies and other players in entertainment law.
Pension Plans Changes: Will Retiring Partners Shoulder the Risk?
May 01, 2020
For some firms in the Great Recession, reduced revenues combined with the overwhelming pressure from multimillion-dollar pension liabilities — a holdover from the days when pensions were simply a promise firms made to retiring partners — were too much to bear. But with the Great Recession now a decade in the past and another recession brewing, has the industry learned from its mistakes?
Personal Guaranty of Commercial Lease Held Discharged in Guarantor's Bankruptcy
May 01, 2020
As we prepare for the anticipated increase in bankruptcy filings caused by the COVID-19 pandemic's impact on the economy, many practitioners are trying to compare this to the savings and loan crisis of the late 1980s. One of the issues that keeps coming up cycle after cycle is whether a personal guaranty of a commercial lease is discharged in the bankruptcy of the individual guarantor. Court decisions have split on this issue for years.