Insights

• After the SPAC boom of 2020 and 2021, many de-SPACed companies are now facing cash constraints and even bankruptcy.
• Companies and their sponsors could face increasing scrutiny and disputes from shareholders, creditors or regulators as a result.
• We explain how sponsors can be best positioned to prepare for the legal, financial and reputational risks that follow.

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• Governments have increased focus on third parties – including offshore trustees – as they look to enforce their sanctions regimes.
• This increases the risk trustees could become embroiled in an accusation of violating sanctions.
• Trustees should take proactive, globally comprehensive measures to reduce their risk and avoid a cross-border crisis.

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• Special Purpose Acquisition Companies (“SPACs”) can provide sponsors—often high-net-worth individuals—with large returns.
• However, SPACs are not without their risks—there are growing signals the market may be cooling, which could lead to litigation and government enforcement.
• SPAC sponsors and advisors should prepare early in order to reduce their potential exposure.

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