Andrew K. Glenn and Kenneth R. David Discuss Potential Exploitation of “MAC” Clauses in the Wake of Coronavirus
Kasowitz Benson Torres partners Andrew K. Glenn and Kenneth R. David will be the featured speakers on “Impact of Coronavirus: Recalcitrant Lenders May Exploit “MAC” Clauses to Avoid Commitments,” a one-hour briefing webcast hosted by Practising Law Institute. Mr. Glenn and Mr. David will discuss how banks and other counterparties may potentially use material adverse change clauses to not honor their commitments, or as pretexts to exit transactions they view as unfavorable in the wake of the coronavirus pandemic. They will also examine real world case studies based on Kasowitz’s experience during the Great Recession, when the firm successfully negotiated and litigated with lenders, forcing them to honor their commitments under existing and committed facilities.
The webcast will take place on April 2, 2020 from 3:00 p.m. to 4:00 p.m. (ET). Register for the free webcast here.
Andrew K. Glenn, partner at Kasowitz Benson Torres, represents private equity firms and portfolio companies in high-stakes litigation, including disputes involving acquisitions and acquisition financings relating to leveraged buyout transactions. He also has extensive experience handling bankruptcy and restructuring matters, with a focus on financial, valuation and accounting litigation, including the representation of activist shareholders in corporate governance litigation, proxy fights and fraud litigation against major financial institutions.Kenneth R. David, partner at Kasowitz Benson Torres, represents public and private companies in high-stakes litigation, including disputes involving acquisitions and financings. He also handles a variety of securities, antitrust, corporate governance, defamation, fraudulent conveyance, credit-related, commercial, contract, restructuring, and reinsurance matters, and government investigations.