{"id":2599,"date":"2020-08-24T16:45:57","date_gmt":"2020-08-24T20:45:57","guid":{"rendered":"https:\/\/www2.law.temple.edu\/10q\/?p=2599"},"modified":"2020-08-24T16:45:57","modified_gmt":"2020-08-24T20:45:57","slug":"distressed-ma-considerations-amid-a-pandemic","status":"publish","type":"post","link":"https:\/\/law.temple.edu\/10q\/distressed-ma-considerations-amid-a-pandemic\/","title":{"rendered":"Distressed M&A: Considerations Amid a Pandemic"},"content":{"rendered":"

As we near the end of the quarter, there is widespread concern that more companies will find themselves in varying stages of distress. These situations may force sales for some while also presenting a chance to pursue opportunistic purchases for others. <\/span><\/span><\/p>\n

\u00a0<\/span><\/span>For those who find themselves considering buying or selling, it\u2019s important for those on both sides of the transactions to keep in mind some of the key legal issues often associated with distressed situations, including successor liability, fraudulent transfers, and fiduciary duties.<\/span><\/span><\/p>\n

\u00a0<\/span><\/span>Additionally, there are many transaction structures to consider and evaluate\u2014some more common than others. For speed and efficiency, many are considering out-of-court transactions. Some are staying the course with a more conventional approach including Chapter 11 reorganization or 363 sales.<\/span><\/span><\/p>\n

\u00a0<\/span><\/span>As businesses look to buying or selling as a result of distressed conditions, some additional key considerations should be kept in mind:<\/span><\/span><\/p>\n

\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <\/span>As we continue to progress through this era of the coronavirus (COVID-19) pandemic, priorities for directors may shift from where they were previously, including in consideration of the exhaustion of PPP funds. <\/span><\/span><\/p>\n

\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <\/span>In the current environment, parties will be looking to complete sales quickly and at a low cost as funds may not be available to fund a longer, more expensive process.<\/span><\/span><\/p>\n

\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <\/span>There will be a growing interest in out-of-court transactions and while many may prefer this route, it is not without certain risks. <\/span><\/span><\/p>\n

\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <\/span>There will be a premium on speed during 363 sale processes, which could also result in changes in where cases are filed. <\/span><\/span><\/p>\n

\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <\/span>Debtors will be focused on wrapping up cases quickly through a plan process that provides releases.<\/span><\/span><\/p>\n

\u00a0<\/span><\/span><\/p>\n

The full article in its original form can be found <\/span>here<\/a>. This article outlines key takeaways from a live webinar hosted by <\/span><\/span>Morgan, Lewis & Bockius LLP <\/span><\/span>on May 26, 2020. A recording of the webinar can be viewed <\/span>here<\/a>.<\/span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Recently, attorneys from Morgan, Lewis & Bockius LLP hosted a webinar outlining considerations for a company contemplating buying or selling themselves during the pandemic. This article details a few key takeaways and provides a link to a recording of the webinar.<\/p>\n","protected":false},"author":33,"featured_media":2601,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1865,1869,1870],"tags":[1861,1862,1863,337,1864,1866,1867,1868,660],"coauthors":[1859,1860,1857,1858],"class_list":["post-2599","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-mergers-acquisitions","category-temple-law","category-temple-law-alumni","tag-363-sales","tag-and-fiduciary-duties","tag-buying","tag-chapter-11","tag-fraudulent-transfers","tag-ppp-funds","tag-selling","tag-successor-liability","tag-transactions","masonry-post","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-33"],"yoast_head":"\nDistressed M&A: Considerations Amid a Pandemic - The Temple 10-Q<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/law.temple.edu\/10q\/distressed-ma-considerations-amid-a-pandemic\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Distressed M&A: Considerations Amid a Pandemic - The Temple 10-Q\" \/>\n<meta property=\"og:description\" content=\"Recently, attorneys from Morgan, Lewis & Bockius LLP hosted a webinar outlining considerations for a company contemplating buying or selling themselves during the pandemic. This article details a few key takeaways and provides a link to a recording of the webinar.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/law.temple.edu\/10q\/distressed-ma-considerations-amid-a-pandemic\/\" \/>\n<meta property=\"og:site_name\" content=\"The Temple 10-Q\" \/>\n<meta property=\"article:published_time\" content=\"2020-08-24T20:45:57+00:00\" \/>\n<meta name=\"author\" content=\"Craig Wolfe, Laura McCarthy, Kevin Shmelzer (LAW \u201805), Andrew Gallo\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Craig Wolfe, Laura McCarthy, Kevin Shmelzer (LAW \u201805), Andrew Gallo\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/law.temple.edu\/10q\/distressed-ma-considerations-amid-a-pandemic\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/law.temple.edu\/10q\/distressed-ma-considerations-amid-a-pandemic\/\"},\"author\":{\"name\":\"Erica Maier\",\"@id\":\"https:\/\/law.temple.edu\/10q\/#\/schema\/person\/d88f9d6c1e573914b328a9fc287d495a\"},\"headline\":\"Distressed M&A: Considerations Amid a Pandemic\",\"datePublished\":\"2020-08-24T20:45:57+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/law.temple.edu\/10q\/distressed-ma-considerations-amid-a-pandemic\/\"},\"wordCount\":312,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/law.temple.edu\/10q\/distressed-ma-considerations-amid-a-pandemic\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/law.temple.edu\/10q\/wp-content\/uploads\/sites\/12\/2020\/08\/Buy-Sell-Agreement.jpg\",\"keywords\":[\"363 sales\",\"and fiduciary duties\",\"buying\",\"Chapter 11\",\"fraudulent transfers\",\"PPP funds\",\"selling\",\"successor liability\",\"Transactions\"],\"articleSection\":[\"Mergers & Acquisitions\",\"Temple Law\",\"Temple Law Alumni\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/law.temple.edu\/10q\/distressed-ma-considerations-amid-a-pandemic\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/law.temple.edu\/10q\/distressed-ma-considerations-amid-a-pandemic\/\",\"url\":\"https:\/\/law.temple.edu\/10q\/distressed-ma-considerations-amid-a-pandemic\/\",\"name\":\"Distressed M&A: Considerations Amid a Pandemic - The Temple 10-Q\",\"isPartOf\":{\"@id\":\"https:\/\/law.temple.edu\/10q\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/law.temple.edu\/10q\/distressed-ma-considerations-amid-a-pandemic\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/law.temple.edu\/10q\/distressed-ma-considerations-amid-a-pandemic\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/law.temple.edu\/10q\/wp-content\/uploads\/sites\/12\/2020\/08\/Buy-Sell-Agreement.jpg\",\"datePublished\":\"2020-08-24T20:45:57+00:00\",\"author\":{\"@id\":\"https:\/\/law.temple.edu\/10q\/#\/schema\/person\/d88f9d6c1e573914b328a9fc287d495a\"},\"breadcrumb\":{\"@id\":\"https:\/\/law.temple.edu\/10q\/distressed-ma-considerations-amid-a-pandemic\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/law.temple.edu\/10q\/distressed-ma-considerations-amid-a-pandemic\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/law.temple.edu\/10q\/distressed-ma-considerations-amid-a-pandemic\/#primaryimage\",\"url\":\"https:\/\/law.temple.edu\/10q\/wp-content\/uploads\/sites\/12\/2020\/08\/Buy-Sell-Agreement.jpg\",\"contentUrl\":\"https:\/\/law.temple.edu\/10q\/wp-content\/uploads\/sites\/12\/2020\/08\/Buy-Sell-Agreement.jpg\",\"width\":900,\"height\":463},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/law.temple.edu\/10q\/distressed-ma-considerations-amid-a-pandemic\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/law.temple.edu\/10q\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Distressed M&A: Considerations Amid a Pandemic\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/law.temple.edu\/10q\/#website\",\"url\":\"https:\/\/law.temple.edu\/10q\/\",\"name\":\"The Temple 10-Q\",\"description\":\"Temple's Business Law Magazine\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/law.temple.edu\/10q\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/law.temple.edu\/10q\/#\/schema\/person\/d88f9d6c1e573914b328a9fc287d495a\",\"name\":\"Erica Maier\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/secure.gravatar.com\/avatar\/287d6d70b5641c5fca2014a2642c81f4173a498c7b1d1dafac589e1a9dc74e18?s=96&d=mm&r=g5e523333d61dc7fabb86b49c5ffcbaee\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/287d6d70b5641c5fca2014a2642c81f4173a498c7b1d1dafac589e1a9dc74e18?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/287d6d70b5641c5fca2014a2642c81f4173a498c7b1d1dafac589e1a9dc74e18?s=96&d=mm&r=g\",\"caption\":\"Erica Maier\"},\"url\":\"https:\/\/law.temple.edu\/10q\/author\/emaier\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Distressed M&A: Considerations Amid a Pandemic - The Temple 10-Q","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/law.temple.edu\/10q\/distressed-ma-considerations-amid-a-pandemic\/","og_locale":"en_US","og_type":"article","og_title":"Distressed M&A: Considerations Amid a Pandemic - The Temple 10-Q","og_description":"Recently, attorneys from Morgan, Lewis & Bockius LLP hosted a webinar outlining considerations for a company contemplating buying or selling themselves during the pandemic. This article details a few key takeaways and provides a link to a recording of the webinar.","og_url":"https:\/\/law.temple.edu\/10q\/distressed-ma-considerations-amid-a-pandemic\/","og_site_name":"The Temple 10-Q","article_published_time":"2020-08-24T20:45:57+00:00","author":"Craig Wolfe, Laura McCarthy, Kevin Shmelzer (LAW \u201805), Andrew Gallo","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Craig Wolfe, Laura McCarthy, Kevin Shmelzer (LAW \u201805), Andrew Gallo","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/law.temple.edu\/10q\/distressed-ma-considerations-amid-a-pandemic\/#article","isPartOf":{"@id":"https:\/\/law.temple.edu\/10q\/distressed-ma-considerations-amid-a-pandemic\/"},"author":{"name":"Erica Maier","@id":"https:\/\/law.temple.edu\/10q\/#\/schema\/person\/d88f9d6c1e573914b328a9fc287d495a"},"headline":"Distressed M&A: Considerations Amid a Pandemic","datePublished":"2020-08-24T20:45:57+00:00","mainEntityOfPage":{"@id":"https:\/\/law.temple.edu\/10q\/distressed-ma-considerations-amid-a-pandemic\/"},"wordCount":312,"commentCount":0,"image":{"@id":"https:\/\/law.temple.edu\/10q\/distressed-ma-considerations-amid-a-pandemic\/#primaryimage"},"thumbnailUrl":"https:\/\/law.temple.edu\/10q\/wp-content\/uploads\/sites\/12\/2020\/08\/Buy-Sell-Agreement.jpg","keywords":["363 sales","and fiduciary duties","buying","Chapter 11","fraudulent transfers","PPP funds","selling","successor liability","Transactions"],"articleSection":["Mergers & Acquisitions","Temple Law","Temple Law Alumni"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/law.temple.edu\/10q\/distressed-ma-considerations-amid-a-pandemic\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/law.temple.edu\/10q\/distressed-ma-considerations-amid-a-pandemic\/","url":"https:\/\/law.temple.edu\/10q\/distressed-ma-considerations-amid-a-pandemic\/","name":"Distressed M&A: Considerations Amid a Pandemic - The Temple 10-Q","isPartOf":{"@id":"https:\/\/law.temple.edu\/10q\/#website"},"primaryImageOfPage":{"@id":"https:\/\/law.temple.edu\/10q\/distressed-ma-considerations-amid-a-pandemic\/#primaryimage"},"image":{"@id":"https:\/\/law.temple.edu\/10q\/distressed-ma-considerations-amid-a-pandemic\/#primaryimage"},"thumbnailUrl":"https:\/\/law.temple.edu\/10q\/wp-content\/uploads\/sites\/12\/2020\/08\/Buy-Sell-Agreement.jpg","datePublished":"2020-08-24T20:45:57+00:00","author":{"@id":"https:\/\/law.temple.edu\/10q\/#\/schema\/person\/d88f9d6c1e573914b328a9fc287d495a"},"breadcrumb":{"@id":"https:\/\/law.temple.edu\/10q\/distressed-ma-considerations-amid-a-pandemic\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/law.temple.edu\/10q\/distressed-ma-considerations-amid-a-pandemic\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/law.temple.edu\/10q\/distressed-ma-considerations-amid-a-pandemic\/#primaryimage","url":"https:\/\/law.temple.edu\/10q\/wp-content\/uploads\/sites\/12\/2020\/08\/Buy-Sell-Agreement.jpg","contentUrl":"https:\/\/law.temple.edu\/10q\/wp-content\/uploads\/sites\/12\/2020\/08\/Buy-Sell-Agreement.jpg","width":900,"height":463},{"@type":"BreadcrumbList","@id":"https:\/\/law.temple.edu\/10q\/distressed-ma-considerations-amid-a-pandemic\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/law.temple.edu\/10q\/"},{"@type":"ListItem","position":2,"name":"Distressed M&A: Considerations Amid a Pandemic"}]},{"@type":"WebSite","@id":"https:\/\/law.temple.edu\/10q\/#website","url":"https:\/\/law.temple.edu\/10q\/","name":"The Temple 10-Q","description":"Temple's Business Law Magazine","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/law.temple.edu\/10q\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/law.temple.edu\/10q\/#\/schema\/person\/d88f9d6c1e573914b328a9fc287d495a","name":"Erica Maier","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/287d6d70b5641c5fca2014a2642c81f4173a498c7b1d1dafac589e1a9dc74e18?s=96&d=mm&r=g5e523333d61dc7fabb86b49c5ffcbaee","url":"https:\/\/secure.gravatar.com\/avatar\/287d6d70b5641c5fca2014a2642c81f4173a498c7b1d1dafac589e1a9dc74e18?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/287d6d70b5641c5fca2014a2642c81f4173a498c7b1d1dafac589e1a9dc74e18?s=96&d=mm&r=g","caption":"Erica Maier"},"url":"https:\/\/law.temple.edu\/10q\/author\/emaier\/"}]}},"jetpack_featured_media_url":"https:\/\/law.temple.edu\/10q\/wp-content\/uploads\/sites\/12\/2020\/08\/Buy-Sell-Agreement.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/law.temple.edu\/10q\/wp-json\/wp\/v2\/posts\/2599","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/law.temple.edu\/10q\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/law.temple.edu\/10q\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/law.temple.edu\/10q\/wp-json\/wp\/v2\/users\/33"}],"replies":[{"embeddable":true,"href":"https:\/\/law.temple.edu\/10q\/wp-json\/wp\/v2\/comments?post=2599"}],"version-history":[{"count":0,"href":"https:\/\/law.temple.edu\/10q\/wp-json\/wp\/v2\/posts\/2599\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/law.temple.edu\/10q\/wp-json\/wp\/v2\/media\/2601"}],"wp:attachment":[{"href":"https:\/\/law.temple.edu\/10q\/wp-json\/wp\/v2\/media?parent=2599"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/law.temple.edu\/10q\/wp-json\/wp\/v2\/categories?post=2599"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/law.temple.edu\/10q\/wp-json\/wp\/v2\/tags?post=2599"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/law.temple.edu\/10q\/wp-json\/wp\/v2\/coauthors?post=2599"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}