by CGS3 | Jul 24, 2020 | Coronavirus, COVID-19, Tax
As part of continuing efforts to address ambiguities encountered in the CARES Act, on June 5, President Donald Trump signed the Paycheck Protection Program Flexibility Act into law, amending the original Paycheck Protection Program and offering further clarity on its...
by CGS3 | Jul 2, 2020 | Coronavirus, COVID-19, Tax
On June 3, the Senate passed a bill making it easier for more businesses to apply for financial assistance through the CARES Act’s Payment Protection Program. H.R. 7010 extends the time periods during which borrowers must use the PPP loan funds and gives greater...
by CGS3 | Jun 26, 2020 | Coronavirus, COVID-19, Distressed Assets
Commercial lenders are relying heavily on loan modifications to steady the cashflow for businesses during the COVID-19 economic fallout. Although other workout remedies remain available, lenders have been more willing to modify distressed loans as they recognize the...
by CGS3 | Jun 25, 2020 | Coronavirus, COVID-19, Distressed Assets, Insight Alert
In Part I of this Loan Modification Insight Alert, the CGS3 Distressed Assets Practice Team described various loan workout strategies and how the type of loan may dictate and affect such strategies. This Client Alert provides an overview of best practices when...
by CGS3 | Jun 24, 2020 | Coronavirus, COVID-19, Distressed Assets, Insight Alert
As COVID-19 ravages the economy, commercial real estate lenders and borrowers find themselves triaging real estate debt. CGS3 continues to work with our clients in negotiating numerous commercial real estate loan modifications, which gives us invaluable insight into...
by CGS3 | Jun 18, 2020 | Coronavirus, COVID-19, Distressed Assets
The growing list of big businesses filing for bankruptcy amid the coronavirus pandemic is likely an early indicator that there will be a surge of distressed real estate workouts, including receivership sales. Some experts are cautiously saying that things will not be...
