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Helping Clients Navigate COVID-19 (Updating)

Kleinberg Kaplan is working closely with our clients to provide counsel and guidance during these unprecedented times. A selection of our recent thought leadership pieces related to the implications of COVID-19 includes: Corporate Considerations  The PPP Just Got Better (June 10, 2020): Chris Davis, Dov Kleiner, Uri Rosenwasser and Benjamin Goldman discuss the key highlights of the…

Client Alerts | July 15, 2020 | Business Restructuring and Reorganization | Creditors’ Rights and Bankruptcy Litigation | Derivatives | Distressed Real Estate Assets | Employment Litigation | Estate Planning and Administration | Hedge Funds | Investment Management | Investor Activism | Leasing | Mergers & Acquisitions | Nonprofit and Tax-Exempt Organizations | Private Equity Funds | Securities and Corporate Finance | Special Situations and Credit

Three for the Lenders

A series of recent decisions may provide boosts for the positions of lenders. Post-Petition Interest on an Oversecured Claim In re Family Pharmacy, Inc. held that Missouri law, like New York law, distinguishes between permissible default interest and impermissible penalties. However the case diverges from the majority view adopted by several circuit courts of appeal insofar…

Client Alerts | May 27, 2020 | Creditors’ Rights and Bankruptcy Litigation | Special Situations and Credit

NY Fed Announces First Subscription and Closing Dates for TALF 2.0 and Provides Expanded FAQ Responses

On May 20, 2020, the Federal Reserve Bank of New York (the “New York Fed”) announced June 17, 2020 as the first subscription date and June 25, 2020 as the first closing date of the Term Asset-Backed Loan Facility (“TALF 2.0”). The Board of Governors of the Federal Reserve System first authorized TALF 2.0 on March…

Client Alerts | May 21, 2020 | Investment Management | Special Situations and Credit

Kleinberg Kaplan Partner Jared R. Gianatasio Quoted in Debtwire

Kleinberg Kaplan Partner Jared R. Gianatasio discussed the Federal Reserve’s new Term Asset-Backed Securities Loan Facility (“TALF”)  in an interview with Debtwire. Jared shares his thoughts on possible further updates to the program that investors should monitor as TALF moves towards implementation. Read the full article, “TALF funding expected to flow by mid/late May; further expansion…

Firm News | April 16, 2020 | Special Situations and Credit | Private Equity Funds

Fed Updates Terms of TALF 2.0

On April 9, 2020, the Federal Reserve Board (the “Fed”) updated its term sheet of the Term Asset-Backed Loan Facility (“TALF 2.0”) that it authorized on March 23, 2020. The key changes include: updates to the definition of eligible borrower, additions to the types of eligible collateral, changes to loan pricing, and the release of…

Client Alerts | April 10, 2020 | Special Situations and Credit | Private Equity Funds

TALF 2.0: Fed Revives Term Asset-Backed Loan Facility

On March 23, 2020, the Federal Reserve Board (the “Fed”) authorized the revival of its Term Asset-Backed Loan Facility (“TALF 2.0”) previously established following the 2008 financial crisis. TALF 2.0 is a credit facility intended to support the asset-backed securities (“ABS”) markets for consumers and businesses by creating a new source of stable funding for investors…

Client Alerts | April 1, 2020 | Special Situations and Credit | Private Equity Funds