Capital Markets

Borrowers Under SBA 504 and SBA 7(a) Loan Programs Eligible for Deferral of Principal, Interest and Fees for up to Six Months

By: Lawrence J. Glusman and Michael Van Someren To address temporary business interruptions, U.S. Small Business Administration (SBA) lenders nationwide have authority to defer payments of principal, interest and servicing fees for up to six months.  Borrowers with existing loans under the SBA 504 Loan (Certified Development Company) program and...

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COVID-19 and Contract Enforceability

By: Daniel A. Kaminsky and Alexander T. Kay In the coming days, weeks, and months, it is likely that we will see failures to perform under contracts that are related to COVID-19 (e.g., failures to perform arising out of the ongoing temporary closures of businesses and institutions across the State of Wisconsin, the United States of America, and...

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Coronavirus Challenges for Commercial Landlords

By: Ethan C. Geis and Mike T. Van Someren The COVID-19 virus is having negative effects on many aspects of life in the world, not least including economics close to home.  Unfortunately, commercial real estate and capital markets are not immune to these effects.  In light of the modern real estate investment, which almost always includes a...

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Fiscal Cliff Avoided

Fiscal Cliff Avoided

By Gregory S. Sell The American Taxpayer Relief Act of 2012 (H.R. 8, as amended) (the "Act") was passed by Congress on January 1, 2013 and was signed into law by President Obama on January 2nd. The Act extends various tax rate cuts (the "Bush Tax Cuts") that were set to expire this year, which would have increased taxes for all taxpayers. The...

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Effect of Bank Credit Downgrades on M&A Deals

Fifteen of the largest "too big to fail" banks recently sustained serious downgrades to their credit ratings from one or more credit rating agencies. M&A transactions that require some level of bank financing will be affected to a limited degree, in the future as lenders attempt to regain their formerly more favorable ratings. These...

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