Insights

Each year, we send an annual newsletter to our clients and friends regarding Section 475(f) mark-to-market elections. A 475(f) election must be made by partnerships early in the year (by March 15, 2021, for 2021) and can be overlooked while people are focused on preparing tax returns for the prior year. A 475(f) election generally…

Client Alerts | March 4, 2021 | Hedge Funds

Effective January 27, 2021, the Board of the Loan Syndications and Trading Association (the “LSTA”) published a revised suite of trading documents to reflect the market’s transition from the use of the London Interbank Offered Rate (“LIBOR”) to the Secured Overnight Financing Rate (“SOFR”) or other alternative risk-free rates (“RFRs”) as a key benchmark for…

Client Alerts | January 29, 2021 | Securities and Corporate Finance | Special Situations and Credit | Derivatives

The United States Supreme Court has issued an opinion that clarifies the extent to which the automatic stay imposes obligations on creditors that seized their debtor’s property pre-petition and resolves a broad split among the circuit courts. The decision, City of Chicago v. Fulton, provides protection for creditors but adds to the burdens faced by…

Client Alerts | January 20, 2021 | Creditors’ Rights and Bankruptcy Litigation

A recent decision from a New York bankruptcy court provides guidance on how federal courts may approach requests for prejudgment interest in fraudulent conveyance cases. The decision, Picard v. BAM LP, highlights a risk faced by defendants in litigation of lengthy duration and provides practical guidance on how federal judges may exercise their discretion regarding…

Client Alerts | January 4, 2021 | Creditors’ Rights and Bankruptcy Litigation