How To Rebuild or Restructure

Staying Within the Legal Lane: Providing Products and Services for COVID-19 07/06/2020

Companies marketing products or services for coronavirus (COVID-19) should be aware of key areas of healthcare law and regulation, including Food and Drug Administration regulation, clinical laboratory testing oversight, product liability, and digital health/telehealth regulation.

Contacts: Michele L. Buenafe , Dennis C. Gucciardo , Kathleen M. Sanzo , Jacqueline R. Berman , John P. Lavelle, Jr. , Wendy West Feinstein , Brian W. Shaffer , Howard J. Young , Susan Feigin Harris , Gregory N. Etzel , Jacob J. Harper

Debtors Need Not Apply? Continuing Developments on the SBA’s Authority to Deny PPP Loans to Debtor Applicants April 28, 2020 (Updated June 25, 2020)

The Small Business Administration on April 24 issued an update to an interim final rule, crystalizing its view that applicants that have sought protection under the US Bankruptcy Code are not qualified borrowers under the Paycheck Protection Program.

Contacts: Rachel Jaffe Mauceri , Sandra J. Vrejan , Julia Frost-Davies , Sheila A. Armstrong , Kristen V. Campana , Matthew Edward Schernecke , Edwin E. Smith , Craig A. Wolfe , Melissa Y. Boey , Jamal C. Hill , Veronica Roh

Bankruptcy and Debt Restructuring Considerations for Automotive and Mobility Lawyers 06/11/2020 RECORDING

Please join us for a special edition of Morgan Lewis Automotive Hour focused on bankruptcy and debt restructuring as it relates to the automotive industry in the wake of COVID-19.

Contacts: Kristen V. Campana , Kurt A. Mayr , Amy L. Kyle , Nathaniel P. Bruhn

Rossdale CLE presents: Challenging Force Majeure & Insurance Defenses for Successful Recovery 06/10/2020

On a webinar panel presented by Rossdale CLE, Jay Konkel will share the latest legal developments, strategies, and requirements for government, in-house, & private practitioners alike as attorneys challenge force majeure & insurance defenses for successful recovery, business disruption advice, & bankruptcy considerations due to the coronavirus pandemic.

Contacts: Gerald P. Konkel

UK Government Passes Corporate Insolvency and Governance Act 2020 May 21, 2020 (Updated June 26, 2020)

The Corporate Insolvency and Governance Act 2020 (Act), which came into force on 26 June 2020, brings into effect previously announced insolvency reforms.

Contacts: Georgia M. Quenby , Victoria Thompson , Meryem S. Hassan , James Mead

UK FCA: Eight Insurers Agree to Be Parties to Business Interruption Insurance Test Case 06/04/2020

Through the High Court test case, the UK Financial Conduct authority hopes to obtain legal clarity on business interruption insurance during the coronavirus (COVID-19) pandemic.

Contacts: Peter Sharp , Afzalah Sarwar , Paul Mesquitta , Gerald P. Konkel , Teri J. Diaz , Jeffrey S. Raskin

Restructuring and Reintegrating Your Global Workforce in a Post-Pandemic World 05/28/2020

Please join us for part four of our webinar series on labor management relations in the time of a pandemic. This 60-minute presentation will cover returning to the workplace and what labor management challenges employers can expect when implementing changes to their workforce and managing business risks outside of the United States.

Contacts: Lee Harding , Matthew Howse , Sabine Smith-Vidal

Distressed M&A – Considerations Amid a Pandemic 05/26/2020 RECORDING

Join us for a webinar as we discuss the distressed asset sale process and critical legal issues and risks associated with distressed M&A transactions in the wake of COVID-19.

Contacts: Andrew J. Gallo , Kevin S. Shmelzer , Craig A. Wolfe , Laura McCarthy

Out-of-Court Restructurings During the COVID-19 Pandemic 05/26/2020

While the full extent of COVID-19’s impact on the economy remains to be seen, it will likely create significant restructuring activity for companies already experiencing financial distress and otherwise healthy companies distressed by the pandemic. We have already seen an increase in chapter 11 filings, and more will follow.

Contacts: Kurt A. Mayr , David L. Lawton

‘Germany’s Chapter 11’: Protective Shield Proceedings Increase with COVID-19 Insolvencies 05/26/2020

As the economic effects of the coronavirus (COVID-19) pandemic continue to be felt, Germany’s protective shield proceeding under Section 270b of the Insolvency Code is a way for companies to restructure under the direction of management.

Contacts: Torsten Schwarze , Ulrich Korth

Captive Insurance Opportunities and Solutions Post-COVID-19 05/21/2020

Companies with coronavirus (COVID-19)-related losses and legacy liabilities may appreciate significant additional tax benefits from funding those legacy liabilities through a captive insurer before the end of this year. Companies looking to procure insurance to cover losses from the next infectious disease outbreak should explore the many benefits of insuring such risk with a captive.

Contacts: Daniel E. Chefitz , David L. Harbaugh , Barton W.S. Bassett

Beware of Debtor Tax Traps in Restructuring and Bankruptcy 05/20/2020

The economic outcome from the coronavirus (COVID-19) pandemic is still uncertain but is likely to remain catastrophic in many respects. Of late popular name brands and companies have filed for bankruptcy as stay-at-home orders and social distancing requirements remain largely in effect. Morgan Lewis tax lawyers alert those considering bankruptcy or restructuring to various tax traps that may arise during these processes.

Contacts: Sarah-Jane Morin , Colleen M. Redden , Kenneth S. Kail , Casey S. August , Paul A. Gordon , Anthony D. Cipriano

UK’s Lockdown Exit Strategy: A Guide for Employers 05/15/2020

In recognition of growing concerns regarding the impact of the coronavirus (COVID-19) on the UK economy and the profound social impact of lockdown measures, the government has this week unveiled its strategy for exiting the lockdown alongside detailed sector-specific guidance on how to work safely during the pandemic.

Contacts: Matthew Howse , Lee Harding , Louise Skinner , Pulina Whitaker

Russia's COVID-19 Response: Moratorium on Bankruptcy and Freeze on Transactions 05/08/2020

In response to the coronavirus (COVID-19) pandemic, Russia has changed its bankruptcy laws to provide for a moratorium on bankruptcies and a freeze on certain transactions. While the situation is dynamic, these amendments are relevant for ongoing or potential transactions in Russia, as well as a party’s ability to enforce pledges and other types of security interests or to seek other remedies against Russian companies.

Contacts: Vasilisa Strizh , Grigory Marinichev , Alexandra Rotar , Alexey Chertov

Business Interruption Insurance Amid COVID-19: How Aggregation Can Affect Recovery Value 05/01/2020

During the coronavirus (COVID-19) pandemic, it is important for policyholders to remember that key insurance principles, including the principle of aggregation in the United Kingdom, could make a significant difference to any claim on their policies.

Contacts: Peter Sharp , Paul Mesquitta , Gerald P. Konkel , Teri J. Diaz , Jeffrey S. Raskin

Bankruptcy During COVID-19: Three Expedited Options 04/27/2020

Prepackaged bankruptcies, prearranged bankruptcies, and expedited sales are available options for businesses in need of accelerated restructurings during the coronavirus (COVID-19) pandemic.

Contacts: Kurt A. Mayr , David L. Lawton

COVID-19: Light-Touch Administration ─ What Is It and How Does It Work? 04/24/2020

A number of UK insolvency trade association bodies and professionals are advocating for the use of what is known as a light-touch administration for companies in financial distress as a result of the coronavirus (COVID-19) pandemic.

Contacts: Victoria Thompson , Georgia M. Quenby , James Mead

US Bankruptcy Courts Offer Extraordinary Relief Amid COVID-19 April 22, 2020 (Updated May 6, 2020)

In response to the coronavirus (COVID-19) pandemic, US bankruptcy courts have granted extraordinary equitable relief in some cases. As government orders enforcing stay-at-home measures have forced many businesses to shutter indefinitely, bankruptcy courts have implemented procedures to allow the ongoing—albeit virtual—administration of bankruptcy cases.

Contacts: David L. Lawton , Kurt A. Mayr , Andrew J. Gallo

COVID-19 Business Interruption Losses: The Potential Keys to Unlocking Insurance Recovery 04/21/2020

As the coronavirus (COVID-19) pandemic evolves, governmental executive and legislative authorities are taking actions in the form of emergency declarations and proposed legislation that could improve a company’s ability to mitigate business income losses by maximizing its insurance recovery. Keeping an eye on these developments and documenting your losses accordingly could make all the difference.

Contacts: Gerald P. Konkel , Teri J. Diaz , Jeffrey S. Raskin , W. Brad Nes , Peter Sharp , Paul Mesquitta , Paul A. Zevnik , Charles Malaret , Jeffrey W. Moss

Insurance Overview For Business Owners For COVID-19 Losses and Liabilities, Including Business Interruption, Event Cancellation Coverage, Communicable Disease Coverage, and Virus Exclusions 04/02/2020 RECORDING

With significant business disruptions occurring as a result of COVID-19, companies should consider how insurance coverage, including business interruption, supply chain, event cancellation, and communicable disease coverages can help mitigate losses.

Contacts: Charles Malaret , Gerald P. Konkel , W. Brad Nes , Jeffrey S. Raskin , Teri J. Diaz

Coronavirus COVID-19: NOW. NORMAL. NEXT.

How to Rebuild or Restructure