Category Archives: COVID-19

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Rick Jones on The TreppWire Podcast

Crunched Credit’s own Rick Jones spoke with the TreppWire team for their latest podcast. Covering everything from the future of CMBS to the Great Recession, the conversation was wide reaching. Be sure to tune in for more on Rick’s interview with Sam Zell, how we’re headed for a “square root” recovery and why this “light … Continue Reading

LIBOR – The UK Beat Goes On

While it seems like the COVID pandemic has taken over every waking moment of our lives, the impending end of LIBOR marches ever onward.  All signs point to a termination date for the troubled benchmarks at the end of 2021, pandemic be damned. The purpose of this post is not to discuss the road to transition … Continue Reading

Rick Jones’ Interview with Law360

Last Friday, Law360 published its interview with Crunched Credit’s own Rick Jones as part of its Coronavirus Q&A series. In his interview, Rick discusses the effects COVID-19 has had on the commercial mortgage-backed securities market, reflects on how the current financial climate compares to that of the Great Recession, and contemplates the future of capital … Continue Reading

COVID-19 and the Great Shutdown – Some Comparisons with the Great Recession

As we continue to do business in this new world, we have been working with clients to address some of the impacts of COVID-19 on their industries. One point of consideration that comes up is the unprecedented nature of the ensuing economic crisis on the real economy. As part of Dechert’s COVID-19 Coronavirus Business Impact Broadcast … Continue Reading

Oh TRO You Don’t . . .

In the latest installment of “Mezzanine Foreclosures in the Time of Coronavirus”, the Lender fired back at the Borrower’s injunction request, claiming that the Borrower had “squandered lifelines” thrown out to it over many months and that granting the stay would let the Borrower “benefit from a global crisis by evading the consequences of its … Continue Reading

A Mayday on May Day . . .

Last week the New York Supreme Court answered an SOS from a borrower seeking a TRO to prevent a sale under the UCC in NYC that was scheduled to take place on May 1st.  For more information on this alphabet soup, read our OnPoint about new potential pitfalls for mezzanine lenders seeking to foreclose during … Continue Reading

“I Was Just Following Orders”

My last commentary, Playing with Broken Toys in Coronavirus Land, touched on the notion that sometimes following rules can guarantee a bad outcome.  I’ll leave more important musings about ethics and morality aside here (I still don’t have a clue about what Kant was nattering on about) and focus on the more mundane question of … Continue Reading

Crunched Credit’s First Podcast: Beds Without Heads

As part of Dechert’s COVID-19 Coronavirus Business Impact Broadcast Series, the Crunched Credit team has released its first-ever podcast: Beds Without Heads: Hotels in the Era of the Coronavirus. In this episode, Dechert global finance lawyers Krystyna Blakeslee, Jessica Bula and Haleh Rabizadeh expand on their recent Crunched Credit blog and discuss the impact of … Continue Reading

ARRC Recommended Spread Adjustment Announced

The LIBOR transition plods onward.  Last Wednesday, the Alternative Reference Rates Committee (ARRC) announced its recommended spread adjustment methodology for cash products referencing LIBOR.  Regulators around the world have been clear: interim LIBOR replacement deadlines might slip, but LIBOR’s days are still numbered.  At the end of March, which feels like ten thousand years ago, … Continue Reading

Beds without Heads: Hotels in the Era of the Coronavirus

The spread of COVID-19 has created a new reality for the hospitality industry. As of March 25, the CDC reported 54,453 confirmed cases in the U.S., and the number is expected to grow exponentially. In the hopes of slashing infection rates, governments have implemented international travel bans, shelter-in-place orders and other restrictive measures. The second-most … Continue Reading
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