The outbreak of the coronavirus (COVID-19) is having an increasing global impact, including an ever-growing disruption. While, in this rapidly changing environment, our primary concerns are for the well-being of all those affected by this crisis, we are cognizant of the fact that our clients, whether issuers or financial institutions, also need to be aware of the potential financial, regulatory and legal consequences for their businesses and how best to navigate those at this difficult time.
As the leading cross-border law firm for global clients active in the capital markets, we fully understand the extent of the challenges being faced, and are focusing our efforts on providing practical guidance on how to avoid or mitigate the legal problems that COVID-19 is causing. A summary of our latest commentaries on the impact of the crisis follows below.
In the following most recent commentaries, we focus on what clients need to be aware of from a legal perspective in the capital markets arena.
In this article, first published in IFLR on 9 March 2020, we consider the immediate impact of COVID-19 on capital markets, including contractual implications for securities offerings, ongoing disclosure requirements, practical effects, and the approaches of stock exchanges and regulators around the world.
In this article, we identify certain key risks arising from the COVID-19 outbreak that apply to existing and new leveraged finance structures and which may have been overlooked.
We consider potential (but perhaps less obvious) pitfalls in leveraged finance documentation in the context of COVID-19 in respect of existing capital structures, and in respect of new leveraged acquisitions.
This alert discusses force majeure and the coronavirus from the perspective of PRC law and several of the more frequently adopted common law systems governing international commercial contracts, focusing on the main differences in the latter. We also outline several alternative remedies that may apply depending on the governing law of the relevant contracts.
If you would like to discuss any of the issues raised in the above commentaries, please contact us. Further news, regional law perspective and other information can be viewed at Baker McKenzie's Coronavirus Resource Center.