North America: Finance and Banking

Business development companies (BDCs) have become a critical financing source for private equity-backed small- and middle-market companies while offering investors attractive private credit exposure. As the BDC market matures, sponsors and investors are increasingly exploring alternative structures, joint ventures with institutional investors, and evolving co-investment arrangements. The regulatory landscape continues to shift with proposed SEC rulemakings that could expand retail access to private markets

Surging trading volumes, rapid regulatory change and well-publicized controversies in respect of United States prediction markets have brought new prominence to the regulation of prediction markets. Until this year, there had been no formal guidance provided for businesses looking to offer trading in prediction market contracts (also referred to as “event contracts”) in Canada in accordance with existing regulatory frameworks, and, in particular, there has been significant uncertainty concerning the application of securities law restrictions to the trading of event contracts.

David L. Zive and Jacob E. Trachtenberg examine the distressed note sale market from both buyer and seller perspectives, analyzing the legal and transactional frameworks that govern these complex transactions. The article provides practical guidance for navigating the current market landscape and understanding the key considerations in distressed debt transactions.