Sheppard Mullin and M3 Partners Weigh In on the Potential Drivers of the Next...
Members of Sheppard Mullin’s Finance & Bankruptcy team recently co-authored an article entitled “When the Other Shoe Drops: Drivers of the Next Restructuring Cycle” with experts from leading...
View ArticleCommunicating Distress in the Digital Era
During times of corporate uncertainty, the company’s message to customers, vendors and employees can either instill confidence or foster anxiety. This holds true more than ever in the digital and...
View ArticleThe Role of the Independent Director in a Restructuring
The practice of appointing one or more independent directors to the boards of distressed companies has not only proliferated in recent years, but has become the subject of increasing controversy. In...
View ArticleCalifornia Approves Commercial Financing Disclosure Regulations
On June 9, the California Office of Administrative Law (OAL) approved the Department of Financial Protection and Innovation’s (DFPI) proposed commercial financing disclosure regulations issued pursuant...
View ArticleCFTC Amends Clearing Requirements
On August 12, 2022, the CFTC issued a final rule modifying its clearing requirement for interest rate swaps (“IRS”). The final rule updates the types of IRS required to be submitted to a registered...
View ArticleMore Trouble Ahead for the Mortgage Industry If Ginnie Mae’s Risk-Based...
The new Ginnie Mae issuer financial requirements, first published on August 17, 2022 in APM 22-09 by joint announcement with the Federal Housing Finance Agency[1], are scheduled to take effect in two...
View ArticleSynthetic USD LIBOR
As market participants prepare to submit comments on the recent proposal of the UK’s Financial Conduct Authority (the “FCA”) (available here) to require the temporary publication of a “synthetic” 1-,...
View ArticleSEC’s Proposed Conflicts of Interest Rule May Impede Hedging
Critics are warning that the SEC’s recently proposed rule (the “Proposed Rule”) prohibiting conflicts of interest in asset-backed securities (ABS) transactions may impede the ability of financial...
View ArticleSEC Off-Channel Communications Sweep
Over the last several years, the Securities and Exchange Commission (the “SEC”) and the Commodities Futures Trading Commission (“CFTC”) have been laser-focused on the use of so called “off-channel...
View ArticleSupreme Court Finds Bankruptcy Code Abrogates Tribal Sovereign Immunity
The U.S. Supreme Court ruled on Thursday that because Indian tribes are indisputably governments, the Bankruptcy Code unmistakably abrogates their sovereign immunity to bankruptcy court proceedings. In...
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