In the M&A context, “hell or high water” clauses are often negotiated where obtaining antitrust or regulatory approval is a condition precedent to closing the deal. Such provisions may require one or both parties to take...more
The COVID-19 pandemic and resulting market and deal-related disruptions have caused market participants to put renewed focus on risk-allocating provisions in their commercial contracts. These provisions, including best...more
The well-documented wave of Special Purpose Acquisition Companies (“SPAC” or “SPACs”) that lasted throughout 2020 and the first quarter of 2021 has started to show the first signs of retreat. Two major statements from SEC...more
Market volatility may lead brokers to issue margin calls[i] to investors—i.e., demands of cash or additional collateral from investors trading on margin. Investors may feel such margin calls are unjustified or may disagree...more
2020 was the year of the special purpose acquisition company (“SPAC”), with over $ 70 billion raised in deal value, a five-fold increase over 2019. SPACs are a large, growing and ebullient market. A SPAC is a shell company...more
By mid-2020, special purpose acquisition companies (“SPACs”) had already set records, with over $22 billion in deal value. The massive amount of SPAC capital being raised has created a huge demand for suitable acquisition...more
It seems that it is impossible to talk to any fund today without learning that a SPAC is planned or in process. SPACs are vehicles for taking companies public in a way that is potentially more efficient and quicker than a...more
In July 2020, Quinn Emanuel achieved a favorable settlement for its client Advent International in the first scheduled “Busted Deal” trial of the COVID-19 era. The week before trial, the parties reached a settlement in which...more
As borrowers and lenders grapple with a new economic landscape in the wake of COVID-19, borrowers are faced with the need to secure sufficient liquidity in the event of an extended recession that could have long-term effects...more
Recent press reports have highlighted the profound economic impact COVID-19 is having on companies both large and small around the United States—and the ramifications on commercial leases. Across the country, state and local...more
Investors in hedge funds often face several restrictions on their ability to withdraw capital from the fund. These liquidity restrictions have definite benefits, allowing hedge funds to maintain long-term investment...more
3/31/2020
/ Commodity Trading Advisors (CTAs) ,
Compliance ,
Coronavirus/COVID-19 ,
Enforcement Actions ,
Fund Managers ,
Hedge Funds ,
Investment Adviser ,
Liquidity ,
Municipal Advisers ,
Mutual Funds ,
Right of Redemption ,
Securities and Exchange Commission (SEC)
The coronavirus (“COVID-19”) pandemic has presented novel challenges to civil litigation. Courts across the country are struggling to balance the demands of justice and public health. Consistent with government guidance on...more
Businesses face new legal challenges as a result of the fast-paced spread of the novel coronavirus (COVID-19). For example, as we have discussed in detail in another memorandum on the topic, businesses must consider tort...more
With the unfolding coronavirus (COVID-19) outbreak labelled as a pandemic, businesses, universities, and other institutions are presented with novel challenges. From a legal perspective, the evolving situation will likely...more
On November 14, 2019, Vice Chancellor Slights of the Delaware Chancery Court denied a stockholder demand—led by Carl Icahn—to inspect the books and records of Occidental Petroleum Corporation under Section 220 of Delaware...more