The announcement last week by Freddie Mac, Fannie Mae and other agencies that they will provide mortgage loan forbearance arrangements for up to 6 months, subject to an extension of an additional 6 months, directly impacts mortgage servicers in two
Finance & Bankruptcy Law Blog
Up-to-date Information on Finance, Bankruptcy, & Creditors Rights
The Finance & Bankruptcy Law Blog, published by Sheppard, Mullin, Richter & Hampton LLP, covers legal developments and regulatory issues related to finance, bankruptcy, and restructuring. Topics include bankruptcy court rulings affecting sovereign immunity, regulatory enforcement actions in financial services, securities regulations impacting asset-backed securities and hedging, benchmark rate transitions such as LIBOR, and financial institution compliance requirements. The blog addresses the intersection of bankruptcy law with financial regulations, corporate finance transactions, and risk management practices, providing insights into legislative changes, court decisions, and regulatory sweeps affecting financial institutions, creditors, and debtors.
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Impact of COVID-19 on Municipal Finance: Restructurings Inevitable (Part 1)
“Only when the tide goes out do you discover who’s been swimming naked” – Warren Buffet
The tide has gone out on the municipal finance market.
While much of the discussion about the financial fall-out of the COVID-19 virus has…
UPDATE – Lenders Encouraged to Work with Customers in Response to COVID-19 Challenges
The Federal Deposit Insurance Corporation (the “FDIC”) issued updated statements on March 19, 2020 and March 22, 2020, supplementing their earlier statement on March 13, 2020, encouraging financial institutions to take prudent steps to assist customers and communities affected by…
When the “Lights Go Out on Broadway” Will the Lights on Tribal Slot Machines be Next? What Do State COVID-19 Emergency Actions Mean for Tribal Gaming Operations?
President Trump has declared a national emergency as a result of the novel coronavirus (COVID-19) pandemic, and more than 30 States have made emergency declarations in response to COVID-19. Governors of the States of California, Washington, Oregon and New York…
Dealing with the Financial Impact of the Coronavirus
By Ori Katz, Kyle Mathews & Alan Martin
With the continuing spread of the Coronavirus Disease 2019 (“COVID-19” or “coronavirus”), hospitality service providers are facing a number of issues that have already exacted a heavy financial toll. With consumers staying home and employers limiting travel, there is currently…
Start Spreadin’ the News: California Court Says No to New York, New York; Rejects Forum Selection Clause
Sinatra may have found success in the city that never sleeps, but a California court has just made it more difficult for any party doing business with a California resident to do the same. At least, when it comes to…
Increase in Regulatory Expense for Debtor-In-Possession Revolving Credit Facilities
The United States Court of Appeals for the Seventh Circuit held that payments made by a debtor’s customers to its lender converting a pre-petition loan to a post-petition loan constituted disbursements for the purposes of calculating the statutory fees payable…
It’s all about Capital
In 2018, securitization provided an estimated $13.1 trillion in financing. Contrast that with the US $10.24 trillion issued at the end of the 2nd quarter of 2008, and we can see that the securitization market is back. However, the market,…
DOJ Opinion Leaves Industry Hanging: If UIGEA Exclusions Don’t Modify the Wire Act What Does That Mean for Intrastate Gambling Transactions?
Loan Syndication and EU Competition Law
The intricate syndicated loan market has recently triggered attention from competition authorities internationally. Recently, the Spanish competition authority fined €91 million a syndicate of four Spanish banks. The Directorate General for Competition (DG COMP) of the European Commission launched a…