The current COVID-19 pandemic is causing an unprecedented
negative impact on businesses around the globe in nearly every
sector of the economy. Both the US Government as well as Foreign
Governments have and will continue to provide short- and long-term
financial support to these businesses. However, this financial
assistance will not be available to every business, nor will it be
adequate in all instances to offset decreased revenue resulting
directly and indirectly from the pandemic. As a result, many
businesses will be unable to accurately forecast and will not have
the necessary liquidity to ride out the pandemic, and will seek
solutions to preserve value for their stakeholders, including
through the pursuit of a sale. Both strategic purchasers and
institutional investors will have opportunities to purchase these
businesses (or certain related assets) either through a regular
sale process or under the supervision of a bankruptcy court. Due to
the nature of these