Andrew K. Glenn Quoted in American Banker Article: “Banks Tolerate Credit-Line Draws in Coronavirus Crisis — For Now”

Andrew K. Glenn Quoted in American Banker Article: “Banks Tolerate Credit-Line Draws in Coronavirus Crisis — For Now”

Kasowitz Benson Torres partner Andrew K. Glenn is quoted in the American Banker article, “Banks Tolerate Credit-Line Draws in Coronavirus Crisis — For Now,” discussing the possibility that, in the wake of the COVID-19 pandemic, banks might utilize material adverse effect clauses to refuse drawdowns by borrowers on loan commitments.  The article notes that Kasowitz has “successfully compelled banks to reverse their decisions to use the clauses during the recession that followed the 2008 financial crisis.”

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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.