Current Main Street Lending Program -
The long-awaited $600 billion Main Street Lending Program (“MSLP”) established by the Board of Governors of the Federal Reserve System (the “Fed”) and to be administered by the Federal...more
This Client Alert serves to update and supplement our Client Alert of April 9, 2020, in light of additional guidance issued by the Board of Governors of the Federal Reserve System. Note, the Board of Governors and the...more
On April 9, 2020, the Board of Governors of the Federal Reserve System (the “Fed”) announced a series of financing programs to provide up to $2.3 trillion in loans to support the U.S. economy. Among those programs authorized...more
We are updating our Client Alert from March 26, 2020, in light of the issuance, on April 7, 2020, by the primary federal financial institution regulators (the “Regulators”) of a revised Interagency Statement on Loan...more
Interim Final Rule -
The interim final rule announces the implementation of sections 1102 and 1106 of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act or the Act). Section 1102 of the Act temporarily...more
In the wake of governmental responses, including “shelter in place” or “safer at home” mandates (collectively, “Shelter Mandates”) of various U.S. state and local government units, to, as well as other effects of, the...more
In a March 22, 2020 Interagency Statement issued by all of the primary federal financial institution regulators (the “Regulators”), the Regulators have encouraged all financial institutions to “work prudently” with...more
The disruptive impact of the current novel coronavirus (“COVID-19”) global pandemic on virtually all aspects of the social and economic fabric of the United States and most of the rest of the world is unprecedented in recent...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
As has been widely published in the financial services sector, the Financial Conduct Authority in the United Kingdom (FCA) has determined that banks will no longer be compelled to support the London Interbank Offered Rate...more
Recent changes to the Delaware Limited Liability Act (the “Act”) will require modification to Lenders’ forms of loan documentation, at least as they relate to loans to Delaware LLCs. The Act was amended effective as of August...more
3/8/2019
/ Amended Legislation ,
Borrowers ,
Consumer Lenders ,
Delaware General Corporation Law ,
Delaware Limited Liability Company Act ,
Fraudulent Conveyance ,
Joint and Several Liability ,
Lenders ,
Limited Liability Company (LLC) ,
Mergers ,
Risk Mitigation ,
Written Consent
In This Issue:
- Taxpayer Relief Act of 2012
- Tax Planning for the “New Normal”
- HIPAA: Not Just for Health Care
- ADA Requirements for Pools
- Impact of Dodd-Frank Swap Regulations on Loan Documents
-...more
The Office of the Chief Counsel of the Internal Revenue Service has issued a Legal Memorandum (Number AM2013-001, dated March 1, 2013) (the “Memorandum”), which has important implications and represents a victory for lenders...more
Often in connection with commercial loans, borrowers will enter into hedging transactions (“swaps”) for the purpose of mitigating interest rate, commodity or currency risk. Such swaps will frequently be entered into directly...more