On March 11, 2021, President Biden signed the American Rescue Plan (the Rescue Plan) into law. The $1.9 trillion package is the third law enacted to aid the economy and struggling Americans as the COVID-19 pandemic continues...more
The recently enacted $2.3 trillion Consolidated Appropriations Act, 2021 (the Act), which combined a $900 billion coronavirus relief bill as part of a larger $1.4 trillion omnibus spending and appropriations bill for the 2021...more
The economic impact of the global COVID-19 pandemic will likely result in a considerable number of borrower defaults, workouts and debt restructurings. An often overlooked but significant consequence of debt modifications or...more
6/26/2020
/ Borrowers ,
Cancellation of Debt (COD) ,
Coronavirus/COVID-19 ,
Debt Restructuring ,
Fair Market Value ,
Forbearance Agreements ,
Foreclosure ,
Internal Revenue Code (IRC) ,
IRS ,
Lenders ,
Residential Property Owners ,
Settlement Agreements ,
Treasury Regulations
Creditors facing a cascade of distressed credit facilities resulting from the economic fall-out from the COVID-19 pandemic will need experienced counsel at all stages of workouts, from preliminary discussions through the...more