The global pandemic caused by the novel coronavirus (COVID-19) has upended our lives and businesses in ways, and to a degree, that few would have anticipated even a month ago. Most tragically, estimates now project that hundreds of thousands, and perhaps millions, of people will be infected, and the death rate will continue its terrible climb. But even while we mourn the human toll of this global health emergency, we recognize that businesses must reckon with the coronavirus’s devastating blow to “business as usual.”  More

The coronavirus crisis presents a “perfect storm” for hedge funds in terms of timing, ramping up as it has just before a quarter-end, when NAVs are due and subscriptions and redemptions are processed, not to mention in the middle of audit season. As March 2020 month-end approaches, investment managers face the challenge of determining their funds’ NAVs in the most daunting market and operational conditions imaginable.  More

With little fanfare, New York has recently enacted a complete overhaul of its fraudulent conveyance law.  More

What’s happening right now in the world of LIBOR transition? Friedman Kaplan’s LIBOR Transition Task Force sees five major themes. More

While the loan markets have yet to adopt SOFR as a replacement benchmark to LIBOR, lenders and borrowers have started using the ARRC’s fallback provisions or variations thereof in credit agreements. However, in almost all cases credit agreements continue to contain other standard provisions that arguably are inconsistent with the ARRC provisions and should be removed. More

The Hedge Fund Law Report has published an article by Friedman Kaplan litigation partner Anne Beaumont discussing the implications for hedge fund managers of the SEC's July 12, 2019 Staff Statement on LIBOR Transition.  More

In an article published by Private Equity Law Report, Partners Anne Beaumont and Lance Gotko provide an overview of the SEC’s whistleblowing rules, summarize key SEC and EEOC enforcement actions over the last several years, and offer practical advice to private equity firms on how to avoid running afoul of the applicable rules. More

What’s happening right now in the world of LIBOR transition? Friedman Kaplan’s LIBOR Transition Task Force sees five big trends. More