Finance
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During the unprecedented events of 2020, some may have forgotten about the upcoming phaseout of LIBOR at the end of 2021 – but now is a good time for borrowers to refamiliarize themselves with the potential ramifications of the change.
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What happens when “the most important number in finance” is eliminated? With the impending retirement of the London Interbank Offered Rate (LIBOR), financial institutions around the world are now faced with that question.
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Financial Distress Triggered by the Impact of the Coronavirus - Tip Sheet for Financial Sponsor Appointed Directors in the US
The economic challenges brought about by the sudden and wide-ranging economic impact of the coronavirus have resulted in boards facing unprecedented situations and challenges ahead. Directors, irrespective of whether appointed by a financial sponsor or other stakeholder, need to act in accordance with their fiduciary duties, as determined by, among other things, the laws of a corporation's state of incorporation and a corporation's governing documents.
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