By Guest Contributors
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Law360 (December 24, 2020, 3:02 PM EST) --
The most-read securities articles written by Law360 guest experts in 2020 centered around market volatility triggered by COVID-19; remote testimony considerations as courtroom proceedings moved online; and risk and compliance issues related to the Coronavirus Aid, Relief and Economic Security Act.
Should Companies Return Their PPP Loans?
Deciding whether to return a Paycheck Protection Program loan by May 14 to avoid liability for falsely certifying necessity requires close consideration of the U.S. Department of the Treasury
's evolving guidance, changing public sentiment and the intangible costs of keeping the funds, say Amanda Kramer and Daniel Suleiman at Covington & Burling LLP
Applying PPP Loan Affiliation Rules To PE Portfolio Cos.
Portfolio companies' eligibility for Paycheck Protection Program loans is complicated by their status as affiliates of their private equity sponsors, and uncertainty over how liberal and consistent lenders will be in interpreting the Small Business Administration
's affiliation rules, say attorneys at Fried Frank Harris Shriver & Jacobson LLP
Mortgage Servicers Will Bear Brunt Of CARES Act Relief
The CARES Act provides assistance to some borrowers who do not need help, and requires the wrong entities — mortgage servicers — to finance a large portion of this assistance, says Greg Halm at Berkeley Research Group
Preparing For A CMBS Litigation Wave Amid COVID-19
James Murphy and Daniel Payne at Murphy & McGonigle
outline the types of commercial mortgage-backed securities lawsuits that may comprise a pandemic-induced litigation uptick, and offer recommendations on how commercial real estate market participants can prepare for the increased risk.
Amid COVID Market Volatility, Are CLOs The Next RMBS?
As the economy weathers the coronavirus pandemic, Stephen Brown and Abraham Salander at Jenner & Block LLP
compare financial crisis-era residential mortgage-backed securities to current collateralized loan obligations, and evaluate post-recession RMBS litigation versus potential CLO claims.
Defending Remote Testimony In White Collar, Securities Cases
The COVID-19 shift to remote witness testimony in white collar and U.S. Securities and Exchange Commission
investigations changes how both sides handle documents, investigate and interact, and will require defense lawyers to reconsider how they present their clients, say attorneys at Richards Kibbe & Orbe LLP
Pandemic Could Be Spark For Private Equity Powder Keg
Private equity firms with record levels of dry powder are uniquely positioned to capitalize on the impending discount on private company valuations due to the coronavirus pandemic, although a regulatory shift will be necessary to expand access to private markets, say a professor and students at Cornell Law School.
When Coronavirus May Trigger SEC Disclosure Requirements
Amid uncertainty over the global impact of coronavirus, companies across a variety of industries should evaluate several factors to determine when specific outcomes compel U.S. Securities and Exchange Commission disclosures, says Adele Hogan at Nelson Mullins
Riley & Scarborough LLP.
COVID-19 Crisis Exposes Libor Replacement's Weaknesses
Fundamental differences in the way Libor and its pending replacement, the Secured Overnight Financing Rate, have tracked financial risk amid the COVID-19 crisis suggest the transition between the two benchmarks will be challenging, says Jeffrey Armstrong at the Berkeley Research Group.
Dealing With D&O Liability Caused By COVID-19 Pandemic
As directors and officers face compliance challenges in fulfilling their fiduciary duties amid the coronavirus outbreak, they must be mindful of U.S. Securities and Exchange Commission requirements — despite recent filing deadline relief — and D&O insurance considerations, say attorneys at Kelley Drye & Warren LLP
The opinions expressed are those of the author(s) and do not necessarily reflect the views of the firm, its clients, or Portfolio Media Inc., or any of its or their respective affiliates. This article is for general information purposes and is not intended to be and should not be taken as legal advice.
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