National Security > COVID-19 Resource Center
30 Mar '20

Whatever your business—whether you are an investor looking at new investments, managing existing positions or planning exits, or a corporate concerned with protecting and enhancing your business—the current public health crisis has brought a host of additional risks and challenges to the U.A.E.

Read more to access the latest updates on the Government and Industry Actions across the U.A.E.

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30 Mar '20

The domino effect of COVID-19 now threatens a new victim: oil and gas leases in the United States (“U.S.”).  Since early this month, the decimation of global demand for oil resulting from the COVID-19 crisis, coupled with the glut in supply arising from the Organization of the Petroleum Exporting Countries (“OPEC”)-Russia price war, has caused a devastating collapse in the price of oil.  Now, the fallout from this confluence of events presents yet another challenge for U.S. producers. Industry analysts are now forecasting that the surplus of oil produced over oil needed may soon exceed available storage. Producers that were already reducing production due to low prices are now feeling pressure to completely shut in wells. See, e.g., this article. This situation presents still another issue for producers: the risk of lease termination resulting from the shutting in of such production. This alert discusses several issues producers should consider in analyzing their leases for termination risk.

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30 Mar '20

Under the recently announced Term Asset-Backed Securities Loan Facility (the “2020 TALF”), the New York Federal Reserve will commit to lend on a recourse basis to a special purpose vehicle (the “TALF SPV”), which will initially make up to $100 billion of loans available to holders of highly-rated asset-backed securities (ABS). The loans will have a term of three years, will be nonrecourse to the borrower and will be fully secured by eligible ABS. This program will be based upon the similar program originally implemented in 2008 in connection with the most recent global financial crisis (the “2008 TALF”). The eligible ABS collateral will be valued and assigned a haircut according to a schedule (as yet unpublished) based on sector, weighted average life (WAL) and historical volatility, roughly in line with the schedule used for the 2008 TALF.

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30 Mar '20

The California Attorney General’s Office will move forward with the enforcement of the California Consumer Privacy Act (CCPA) despite the logistical issues caused by COVID-19. An advisor to Attorney General Becerra made a statement confirming that the CCPA will be enforced starting on July 1, 2020, despite a plea from over 60 joint industry groups asking for the enforcement to be delayed.

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30 Mar '20

On March 23, 2020, the Federal Reserve announced several new measures aimed at confronting the economic fallout from the COVID-19 pandemic and keeping credit markets functioning. One of these measures is the establishment of a Primary Market Corporate Credit Facility (PMCCF) for new bond and loan issuances with the goal of providing liquidity to large employers.

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29 Mar '20

Whatever your business—whether you are an investor looking at new investments, managing existing positions or planning exits, or a corporate concerned with protecting and enhancing your business—the current public health crisis has brought a host of additional risks and challenges to the U.A.E.

Read more to access the latest updates on the Government and Industry Actions across the U.A.E.

Read More

28 Mar '20

Whatever your business—whether you are an investor looking at new investments, managing existing positions or planning exits, or a corporate concerned with protecting and enhancing your business—the current public health crisis has brought a host of additional risks and challenges to the U.A.E.

Read more to access the latest updates on the Government and Industry Actions across the U.A.E.

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27 Mar '20

Whatever your business—whether you are an investor looking at new investments, managing existing positions or planning exits, or a corporate concerned with protecting and enhancing your business—the current public health crisis has brought a host of additional risks and challenges to the U.A.E.

Read more to access the latest updates on the Government and Industry Actions across the U.A.E.

 

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