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Distressed companies open the liability toolbox to avoid full-blown bankruptcies

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USA, Banking, Corporate Finance/M&A, Insolvency & Restructuring, White & Case, Bankruptcy, Private equity, Coronavirus
Distressed-driven restructurings rise amid COVID-19 fallout

High yield bond and leveraged loan issuance for restructurings across the United States and Western and Southern Europe has climbed 65% year-on-year, up from US$29.1 billion for the first nine months of 2019 to US$48 billion over the same period this year.

European Union, USA, Insolvency & Restructuring, White & Case, Coronavirus, Office of Foreign Assets Control (USA)
ISDA 2018 US Resolution Stay Protocol

On July 31, 2018 the International Swaps and Derivatives Association published the ISDA 2018 US Resolution Stay Protocol (the US Protocol). The US Protocol is intended to enable parties to ISDA Master Agreements and similar Protocol Covered Agreements (PCAs) to contractually recognize the cross-border application of special resolution regimes applicable to global systemically important entities and their affiliates.

In this article, we provide a broad overview of the US Protocol and relevant resolution stay rules, then describe the effect and operation of the US Protocol.

USA, Banking, Derivatives, Insolvency & Restructuring, DLA Piper, International Swaps and Derivatives Association, Securities Investor Protection Corporation, Federal Deposit Insurance Act 1950 (USA)
ISDA 2018 US Resolution Stay Protocol - key questions and answers

On July 31, 2018, the International Swaps and Derivatives Association published the ISDA 2018 US Resolution Stay Protocol. The US Protocol is intended to enable parties to ISDA Master Agreements and similar "Protocol Covered Agreements" (collectively, PCAs) to contractually recognize the cross-border application of special resolution regimes applicable to global systemically important entities and their affiliates.

In this alert, we provide a broad overview of the US Protocol and relevant resolution stay rules, then describe the effect and operation of the US Protocol.

USA, Banking, Derivatives, Insolvency & Restructuring, DLA Piper, International Swaps and Derivatives Association, Dodd-Frank Wall Street Reform and Consumer Protection Act 2010 (USA)