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Overview
The ongoing coronavirus outbreak continues to impact many aspects of society, and has already caused severe displacement in the financing markets. Given the recent shift of the market, there is a heightened risk that banks and other counterparties may not honor their commitments based on material adverse change clauses, or may seek to use such clauses as pretexts to exit transactions they view as unfavorable. During this One-Hour Briefing, Kenneth R. David and Andrew K. Glenn of Kasowitz Benson Torres LLP will discuss the following:
- Real world case studies depicting the litigation and negotiation necessary to force lenders to honor their commitments under existing and committed facilities;
- What these disputes typically involve, including the applicability of material adverse change clauses, solvency representations and covenants, and specific performance of debt financing commitments; and
- Advice on how to prepare for and resolve these disputes to ensure businesses can proceed during these challenging times.
Program Level: Update
Intended Audience: Transactional and litigation attorneys in the corporate, financial services and restructuring arenas, as well as professionals in the banking, private equity and investment management industries
Prerequisites: None
Advanced Preparation: None