Coronavirus

The recent outbreak of the coronavirus COVID-19 has quickly evolved from a local issue to a global crisis. In addition to the tragic human loss, the disease is having and will continue to have a profound economic impact. On this page we will be providing regular legal updates on issues affecting our clients’ businesses around the world. Below is a list of our published updates.

 

Alert
US COVID-19 Real Estate Legal Developments: Federal, California, Florida, Illinois, New York
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Insight
Software M&A shows resilience in challenging market
While not unscathed by the ongoing pandemic, software deals are proving to be resilient to the effects of lockdown
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Insight
Lenders calm despite fallen angel risks
Although COVID-19 lockdowns have seen high-profile companies lose their investment grade status, lenders have continued to support these credits
Alert
US DOL Provides Much Needed Guidance Regarding Paid Leave Under The Response Act
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Insight
Lenders' views on documentation diverge under lockdown
The decline in H1 2020 leveraged finance issuance has seen some lenders intensify their focus on pricing and borrower-friendly loan structures, but lender responses to the impact of COVID-19 have diverged across regions
computer and mobile gaming
Insight
Online gaming M&A levels up
The online gaming industry has flourished amid stay-at-home orders
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Insight
Are rising default rates cause for concern?
Leveraged finance defaults are rising as the impact of COVID-19 is felt, but covenant-lite terms, government intervention and support from financial sponsors have mitigated fallout from the pandemic
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Insight
High yield bond issuance rebounds
After COVID-19 concerns brought issuance to a near halt in March, Q2 high yield bond activity climbed in most markets as borrowers sought to boost balance sheets and cash reserves
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Loan activity evolves in Latin America
Latin American loan issuance has felt the effects of COVID-19 disruptions, but lenders have remained open for business as borrowers turn to bilateral loan revolving credit facilities for liquidity
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ESG Disclosure Trends in SEC Filings
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Returning to Work: COVID-19, Workers' Compensation, and Employee/Consultant Waivers
Patterns
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ESG takes center stage amid economic crisis and social unrest
Strong ESG credentials and long-term plans to improve their relationship with society and the environment are increasingly important to ensure companies’ access to capital
Alert
Resolution whereby the Mexican National Hydrocarbons Commission establishes several measures in order to promote the development of petroleum activities
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Modification to certain provisional measures published by Banco de Mexico, as a result of the COVID-19 coronavirus pandemic
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Loan markets show signs of life after COVID-19 shock
Investor sentiment has begun to recover, but ratings downgrades and higher pricing continue to keep loan markets on alert
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Resumption of the activities of the Federal Judiciary
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National Banking and Securities Commission resumes activities during the contingency derived from SARS Cov-2 (COVID-19)
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Practical Tips to Prepare for Upcoming Quarterly Disclosures
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Insight
Global M&A value collapses to record lows in Q2 2020
As the COVID-19 pandemic spread, global M&A value dropped to the lowest half-yearly total since H1 2010
Insight
Global PE buyout activity stays relatively robust in H1
Amidst the COVID-19 pandemic, total buyout volume in the first half of 2020 dropped 23% annually, while value fell 30%—less than half the rate of decline of overall M&A
Alert
COVID-19: Global Government Financial Assistance Measures
Our global team can provide advice on eligibility for governmental financial assistance measures on a global basis. 
Alert
Authorization of special accounting standards for credit institutions by the CNBV. Part II
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Insight
Technology M&A remains resilient in the face of COVID-19 crisis
Technology dealmaking has continued apace in 2020 as M&A investors take advantage of the sector's resilience to transact
DNA
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Healthcare M&A prospers, despite fall in deal activity
The megadeals of 2019 may be off the table for now, but deal activity across healthcare and pharmaceuticals has proven resilient through the COVID-19 crisis
Refinery
Insight
Oil & gas industry feels financing squeeze
Low prices and excess supply have pushed oil & gas balance sheets to the brink, which means raising traditional debt will remain difficult and restructurings are expected
Aviation
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Take it from us: Tips for aviation and aerospace professionals on navigating a business transformation
Practical advice on restructuring processes and considerations
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Technology sector shows resilience during lockdowns
Remote working, online shopping and telemedicine have shielded the technology sector from the worst effects of COVID-19 lockdowns
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Insight
Strong foundations, uncertain future: How COVID-19 will affect the M&A market in Latin America in 2020 and beyond
The year started strongly for many nations in Latin America, but coronavirus has heavily impacted the M&A market.
Alert
Provisional measures published by Banco de México (Banxico or Mexican Central Bank) as a result of the COVID-19 coronavirus pandemic
medicine blue pills
Insight
Healthcare sector under pressure but the prognosis looks good
COVID-19 has pushed healthcare systems around the world to the limit, but depending on the vertical, certain companies have been less affected than those in other sectors—and the availability of credit to battle the pandemic has helped
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Insight
Leisure sector M&A awaits delayed reaction
COVID-19 is hammering leisure sector M&A—but not so much that opportunities have vanished
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Appetite for change in the consumer food and beverage sector
Even though COVID-19 has taken a toll on consumer spending and supply chains, the food and beverage industry has shown resilience and continues to tap credit markets
Alert
Federal Banking Regulators Unite to Encourage Responsible Small-Dollar Lending
Alert
Some Good News: New IRS Guidance for Renewable Energy Projects
Aviation
Insight
Aviation M&A braces for impact
COVID-19 travel restrictions have put the aviation industry on the backfoot. M&A will not be an immediate priority, but consolidation and distressed deals will come in time
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Insight
Relaxation not an option for leisure and hospitality sectors
The COVID-19 lockdown forced restaurants, hotels, gyms, theaters and casinos to shut their doors and put balance sheets under extreme strain, but some have tapped debt markets to see them through
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Insight
Cracks show in retail as debt burden begins to bite
Retailers faced a difficult financing market before COVID-19 appeared, but lockdowns have made the situation even tougher
Financial Institutions M&A: Sector trends - June 2019
Insight
Global retail M&A volume drops to lowest total since 2009
COVID-19 has put dealmaking in the already disrupted retail industry under further strain. Some retailers, however, have proven resilient and those that survive will see opportunity to vertically integrate supply chains and invest in technology capabilities
Alert
Federal Reserve Releases New Details About TALF 2.0
Insight
COVID-19 and your deal: Considerations for underwriters
Underwriters are grappling with the need to support clients that are accessing funding, while maintaining disclosure standards and managing their risk when the tools they’ve typically used may be unavailable