September 28, 2022 - Today, the LSTA published a Market Advisory which discusses the implications of The Foreign Investment in Real Property Tax Act (“FIRPTA”) in the secondary loan trading market.  Given the increase in distressed trading of certain loans that settle on proceeds that may trigger the need to take steps to satisfy “FIRPTA” requirements, the LSTA has taken the opportunity to remind members and other loan market participants that the purchase and sale of certain assets received in connection with the restructuring of a borrower may implicate important tax considerations and obligations. Those considerations and obligations are discussed in the Market Advisory.  We would like to thank Charlie Cole and Christopher Campbell of Cole, Mink, & Fransella for their hard work and excellent advice on this advisory.

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LIBOR: The Last 30 Days

The last 30 days of LIBOR! Tess Virmani shares how the LSTA is looking at it.