Events & Publications
- Jan 18, 2021
- Publications
The DOJ recently announced its first civil settlement with a borrower for allegedly committing fraud in obtaining a Paycheck Protection Program (PPP) loan, in violation of the False Claims Act and the Financial Institutions Reform,…
- Dec 28, 2020
- Publications
Congress recently passed the Consolidated Appropriations Act, which includes additional assistance for individuals and businesses facing COVID-19-related economic difficulties.
Brian Bolin, Victoria Forrester, Jarrett Hoffman, Danielle Penhall, Cullen Sinclair, John Weber and Adam Wollstein have been elected to the partnership, effective Jan. 1, 2021.
- Nov 04, 2020
- Publications
Finance partner Eric Goodison and practice management counsel Margot Wagner co-authored an article for Thomson Reuters Practical Law, “Covenant-Lite Loans: Overview.”
- Oct 27, 2020
- Publications
The International Swaps and Derivatives Association, Inc. (ISDA) recently launched the IBOR Fallbacks Supplement to the 2006 ISDA Definitions and the ISDA 2020 IBOR Fallbacks Protocol to address the expected cessation of various…
- Sep 22, 2020
- Publications
The Treasury Department recently released final regulations that fundamentally change the mandatory filing requirement related to a foreign person acquiring control over, or making a covered investment in, a U.S. business involved…
- Aug 20, 2020
- Publications
Deputy Chair Valerie Radwaner was featured in an NYU Law News article, “Valerie Radwaner ’87 Leads Through Collaboration,” posted on August 18 on the New York University School of Law website.
Charles Pesant has joined the firm as a partner in the Corporate Department and the Securitization Practice Group.
- Aug 10, 2020
- Publications
On October 16, 2020, central clearing houses (“CCPs”) are set to transition their discounting methodology and rates used to pay interest on cash margin for USD cleared swaps from Fed Funds to SOFR.
- Jul 02, 2020
- Publications
Corporate partner Manuel Frey and associate Anastasia Peterson co-authored the “United States” chapter of the International Comparative Legal Guide (ICLG) to: Derivatives 2020, published by the Global Legal Group Ltd., London.
- Jun 17, 2020
- Publications
Corporate partner Eric Goodison recorded a video for Thomson Reuters Practical Law, “Covenant-Lite Loans,” which highlighted the importance of covenant-lite loans in the leveraged loan market and the risk of cross-default.
- Jun 09, 2020
- Publications
On June 8, the Fed issued revised term sheets governing the Main Street New Loan Facility, the Main Street Expanded Loan Facility and the Main Street Priority Loan Facility, together with an updated set of frequently asked questions.…
- Jun 04, 2020
- Publications
Congress recently passed the “Paycheck Protection Program Flexibility Act.” The act extends the forgiveness period and repayment deferment period for loans borrowed under the Small Business Administration’s Paycheck Protection Program …
- Jun 04, 2020
- Publications
On May 20, 2020, the Treasury Department issued proposed regulations to fundamentally change the mandatory filing requirement related to a foreign person acquiring control over, or making a covered investment in, a U.S. business…
- May 29, 2020
- Publications
The Federal Reserve has issued a number of legal forms and agreements, with accompanying instructions, that must be submitted by eligible borrowers and lenders participating in the Main Street New Loan Facility, Main Street Expanded…
- May 26, 2020
- Publications
Finance partner Eric Goodison and practice management counsel Margot Wagner co-authored an article, “Market Trends 2019/20: M&A Financing,” that appeared in Lexis Practice Advisor.
- May 01, 2020
- Publications
On April 30, the Fed issued revised term sheets for the two previously announced Main Street lending facilities, as well as a term sheet for the new Main Street Priority Loan Facility. The Fed expanded certain criteria for eligible…
- Apr 20, 2020
- Publications
On April 15, ISDA announced preliminary results of its second market consultation regarding the implementation of pre-cessation fallbacks for derivatives contracts referencing LIBOR. ISDA found that “a significant majority of…
- Apr 10, 2020
- Publications
The Federal Reserve announced seven lending facilities that will provide up to $2.3 trillion in loans to support the economy. We summarize the new facilities and updates to the terms of the previously announced facilities.
- Apr 09, 2020
- Publications
On April 8, 2020, the Alternative Reference Rate Committee (“ARRC”), a working group convened to help prepare for the cessation of the U.S. dollar London Interbank Offered Rate (USD LIBOR), announced that it had agreed on a…
- Mar 29, 2020
- Publications
Notwithstanding COVID-19-related market volatility and associated challenges faced by market participants, UK regulators have affirmed that the timetable for LIBOR’s anticipated cessation at the end of calendar year 2021 currently…
- Mar 24, 2020
- Publications
On March 4, 2020, the Treasury Department issued proposed regulations implementing the new authority under the Foreign Investment Risk Review Modernization Act of 2018 (“FIRRMA”)[1] for the interagency Committee on Foreign Investment…
- Mar 17, 2020
- Publications
As the coronavirus pandemic continues to shake global markets, more companies will likely need to restructure to address liquidity constraints, right-size their balance sheets, or implement operational restructurings. Concurrently,…
- Mar 13, 2020
- Publications
As market reaction to the coronavirus outbreak leads to declining trading prices for bank loans and notes, many debt issuers and their private equity sponsors are considering repurchasing their outstanding debt to capture discount. We …
- Mar 02, 2020
- Publications
On March 3, 2020, the U.S. Supreme Court will hear oral argument to determine the constitutionality of the Consumer Financial Protection Bureau. Created by Congress as part of the Dodd-Frank Act, the CFPB is a multi-member,…
- Feb 27, 2020
- Publications
On February 13, 2020, final regulations implementing the Foreign Investment Risk Review Modernization Act of 2018 (“FIRRMA”) (which became law on August 13, 2018) went into effect.
- Jan 22, 2020
- Publications
It is widely expected that within two years, by the end of 2021, the London Interbank Offered Rate (“LIBOR”) will no longer be published by LIBOR panel banks. Recognizing the potential impact LIBOR’s cessation could have on lenders,…
Jonathan Ashtor, Rachael Coffey, Alexia Korberg, Caith Kushner, Kyle Seifried, Brette Tannenbaum and Austin Witt have been elected to the partnership, effective Jan. 1, 2020.
- Oct 03, 2019
- Publications
On September 17, 2019, the Treasury Department released two sets of proposed regulations designed to implement the Foreign Investment Risk Review Modernization Act of 2018 (“FIRRMA”) (which became law on August 13, 2018), along with a …
- Aug 28, 2019
- Publications
Finance partner Eric Goodison and practice management counsel Margot Wagner co-authored an article for Practical Law, “Covenant-Lite Loans: Overview,” which discusses this type of financing’s features and examines the benefits and…
- Jul 16, 2019
- Publications
Finance partner Eric Goodison and practice management counsel Margot Wagner co-authored an article, “Market Trends 2018/19: M&A Financing”, that appeared in Lexis Practice Advisor.
- May 29, 2019
- Publications
On May 22, 2019, the Internal Revenue Service (the “IRS”) and the Department of the Treasury (“Treasury”) released final regulations (the “Final Regulations”) under Section 956 of the U.S. Internal Revenue Code of 1986, as amended…
Paul, Weiss hosted its Annual Private Equity General Counsel CLE Program.
- Mar 15, 2019
- Publications
Article 9 of Regulation (EU) No. 648/2012 of the European Parliament and of the Council of 4 July 2012 on over-the-counter derivatives (“OTC Derivatives”), central counterparties and trade repositories (as amended, “EMIR”) requires…
Paul, Weiss is pleased to announce that the following attorneys have been elected to the partnership, effective January 1, 2019: Justin Anderson, Robert Britton, David Carmona, Harris Fischman, Christopher D. Frey, Matthew B.…
- Nov 27, 2018
- Publications
U.S. regulations imposing stay requirements on the terms of swaps, repurchase agreements and other qualified financial contracts of globally systemically important banks (GSIBs) take effect on January 1, 2019 in support of a policy…
- Nov 01, 2018
- Publications
On October 31, 2018, the Internal Revenue Service (“IRS”) and the Department of the Treasury (“Treasury”) released proposed regulations (the “Proposed Regulations”) under Section 956 of the U.S. Internal Revenue Code of 1986, as…
- Oct 26, 2018
- Publications
On October 10, 2018, the Treasury Department announced that the interagency Committee on Foreign Investment in the United States (“CFIUS”) had used its new authority under the Foreign Investment Risk Review Modernization Act of 2018…
- Sep 25, 2018
- Publications
Finance partner Jordan Yarett contributed an article, “Structured Finance, Securitization and Derivatives,” to Lexis Practice Advisor.
- Sep 15, 2018
- Publications
Ten years after the collapse of Lehman Brothers, market participants and other global companies operate in a markedly changed regulatory enforcement and compliance landscape. This memorandum discusses the legal and business…
- Aug 13, 2018
- Publications
President Trump today signed the John S. McCain National Defense Authorization Act for Fiscal Year 2019 (“FY 2019 NDAA”) (H.R. 5515).
- Jul 19, 2018
- Publications
Corporate partner Eric Goodison and practice management counsel Margot Wagner published an overview of covenant-lite loans on the Thomson Reuters Practical Law website.
- Jun 29, 2018
- Publications
As an outgrowth of the Section 301 investigation that was conducted by the Office of the U.S. Trade Representative concerning China’s laws, policies, practices and actions related to technology transfer, intellectual property and…
- Apr 25, 2018
- Publications
Finance partner Eric Goodison authored an article titled “Market Trends 2017/18: M&A Financing” for Lexis Practice Advisor.
- Jan 01, 2018
- Publications
Deputy chair Valerie Radwaner was featured in a Q&A in LEADERS magazine’s latest issue.
Corporate counsel Ryan McNaughton discussed esoteric asset securitization at the Practising Law Institute’s “New Developments in Securitization” seminar on December 13 in New York City.
- Aug 08, 2017
- Publications
Recently, the International Swaps and Derivatives Association published the ISDA 2017 OTC Equity Derivatives T+2 Settlement Cycle Protocol, the newest installment of ISDA’s mechanism aimed at facilitating the multilateral and…
- Aug 03, 2017
- Publications
President Trump recently signed into law H.R. 3364, the “Countering America’s Adversaries Through Sanctions Act.” The law significantly expands U.S. sanctions targeting Russia and restricts President Trump’s ability to lift them…
- Jul 28, 2017
- Publications
On July 27, 2017, the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) announced a $12 million settlement with two Singapore-based companies over their use of U.S. dollar payments in connection with providing…
- Jul 19, 2017
- Publications
In a sweeping new rule published today in the Federal Register, the CFPB barred providers of consumer financial products and services from entering into or enforcing contracts that include arbitration clauses precluding class action…
- Jan 18, 2017
- Publications
On January 17, 2017, the Court of Appeals for the Second Circuit
issued its long-anticipated opinion in Marblegate Asset
Management, LLC v. Education Management Finance
Corp., ruling that Section
316(b) of the Trust Indenture…
Corporate counsel Ryan McNaughton will discuss esoteric asset
securitization at the Practising Law Institute's "New Developments
in Securitization" seminar on December 14 in New York City.
- Dec 01, 2016
- Publications
The Consumer Financial Protection Bureau recently published a bulletin outlining a demanding compliance standard for companies that use incentive programs as part of employees' compensation arrangements. In light of the bulletin and…
- Oct 31, 2016
- Publications
Firm chair Brad Karp and litigation partners Roberto Gonzalez,
Susanna Buergel, Jane O'Brien and Elizabeth Sacksteder co-authored
an article entitled, "D.C. Circuit Finds Single-Director Structure
of the CFPB Unconstitutional."
- Sep 15, 2016
- Publications
The International Swaps and Derivatives Association, Inc.
recently published the 2016 Variation Margin Protocol to assist
market participants in adapting to a new margin regime for
uncleared derivatives that will come into effect …
- May 26, 2016
- Publications
In its decision last year in Madden v. Midland Funding, LLC, the
Second Circuit held that, after a national bank sells its loans to
a third party, the National Bank Act no longer preempts state usury
laws that would otherwise…
- May 09, 2016
- Publications
On May 5, 2016, the Consumer Financial Protection Bureau (CFPB)
released a 377-page notice of proposed rulemaking that would
prohibit, going forward, banks and a variety of other companies
from including in contracts arbitration…
- Apr 27, 2016
- Publications
On April 21, 2016, the Securities and Exchange Commission, the
Office of the Comptroller of the Currency, the Board of Governors
of the Federal Reserve System, the Federal Deposit Insurance
Corporation, the Federal Housing…
- Apr 11, 2016
- Publications
On April 4, 2016, as the most recent step in its ongoing battle
against inversion transactions, the U.S. Department of Treasury
issued both new temporary and proposed regulations addressing
certain inversion and post-inversion…
- Mar 07, 2016
- Publications
Corporate partner Jordan Yarett authored an article in The Journal of Structured Finance's winter 2016 issue.
Corporate partner Bob Zochowski spoke on a panel at the ABS
Vegas 2016, the largest capital markets conference in the
world.
Volatility in financing markets is having a major impact on
private equity transactions.
- Feb 01, 2016
- Publications
Corporate partner Eric Goodison contributed to Practical Law
Journal's year in review.
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