Yesterday’s emergency is not today’s. Take a deep breath, and then think hard about whether your client’s issues truly—like, for real—require immediate judicial attention in today’s circumstances.

Judges are asking those questions, and here’s how some have described the current litigation environment:

“The entire world is in the midst of a pandemic. Thousands of people worldwide have contracted the Corona virus and there have been hundreds of virus-caused deaths in the United States. Millions of Americans have been ordered to remain in their homes. Millions more have lost their jobs in the past two weeks. The stock market has taken a brutal beating in the last two to three weeks. Many people are scared. Others are panicked. Everyone is unsure about the future. Cruises have been canceled and all the major airlines have severely curtailed their flights.”[1]

In these “business as unusual” times, your messaging with clients and employees needs to be its most effective. At Perkins Coie, our crisis communications team has designed a four-part “messaging structure” called EASE to convey your company’s action items with empathy. The following update shares recommendations for helping clients craft their communications.

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Authored by Andrew Cross

This post is the second in a series that we are preparing in response to questions from clients, colleagues, and contacts.  Yesterday’s post, which addressed interest rate swaps in a zero or negative interest rate environment, is available here.

In today’s post, we address considerations related to Decline in Net Asset Value (NAV) provisions in agreements that govern the trading of over-the-counter (OTC) derivatives and other financial contracts. 

As we explore in greater detail, the recent volatility across financial markets makes it more important than ever for investment managers and their clients to understand – and focus on – these fairly common contractual provisions.