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Secured Lender

Commercial Collection Issues in a COVID-19 Economy

The daily news reminds us of the growing grim economic toll wrought by the COVID-19 pandemic. As discussed in some of our prior Alerts, federal, state and local governments have adopted various measures to moderate some of these effects, including offering stimulus payments and loans, and…

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Preparing for the (Likely) Coming Wave of Bankruptcies

As the economic fallout from the COVID-19 pandemic continues to rise – for example, J. Crew recently filed bankruptcy, and the financial press is predicting that Neiman Marcus may also file for relief this week – it seems prudent for secured lenders to consider what steps they can take to prepare…

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Illinois Eviction Moratorium: Relief Extended to Non-Residential Tenants

On April 23, 2020, Illinois Governor J.B. Pritzker signed Executive Order 2020-30 (“Order”), which, among other things, extended relief previously provided by Executive Order 2020-10 prohibiting law enforcement from enforcing eviction orders for residential properties, and broadened this relief to…

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Federal Reserve Announces the Main Street Lending Program

On April 9, 2020, the Board of Governors of the Federal Reserve Bank (the “Fed”) announced preliminary details of two new loan programs that have aggregate funding of $600 billion, offered as part of the Coronavirus Aid, Relief, and Economic Security Act (the "CARES Act"). They are called the Main…

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