On May 12, 2020, the Federal Reserve published an updated Term Sheet and a set of Frequently Asked Questions (“FAQs”) for the Term Asset-Backed Securities Loan Facility (“TALF”). The TALF program, which was first announced on March 23, 2020 and updated on April 9, 2020, will provide a funding backstop for eligible asset-backed securities (“ABS”).

A recent, highly anticipated ruling by a Bankruptcy Court in Delaware has reilluminated the concept of a “golden share”. While an appeal of the ruling seems likely, this latest ruling by Delaware Bankruptcy Judge Mary F. Walrath suggests that as the COVID-19 outbreak continues to disrupt businesses and send shockwaves through the economy, courts may

As COVID-19 sends shockwaves through the global economy, many experts are predicting one of the deepest recessions in U.S. history.  The hospitality, employment services, transportation, travel, leisure, mining, and oil industries have been particularly hard hit, but borrowers in a myriad of industries have, or will, feel the fallout from this pandemic.  Private credit lenders

Many markets, including the private credit markets, are facing market declines, disruptions and dislocations stemming from the policies enacted to combat the ongoing spread of COVID-19. The private credit industry has seen rapid growth in the years following the financial crisis of 2008 as banks pulled back from issuing loans to certain borrowers and private





Available to small business concerns and any other business concern with no more than 500 employees (or, with respect to accommodation and food service businesses, 500 employees per physical location)

Affiliation rules are disregarded for (i) any accommodation or food service business concern with less than 500 employees, (ii) any

The unexpected emergence of the COVID-19 virus presents a wide range of new challenges and opportunities. The initial reaction of the syndicated market has been to pull back. In these times, private credit lenders act as ready sources of capital and liquidity in creative structures. At the same time, prudent private credit lenders are stress