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Private Fund Update - October 14, 2013

In this issue: - The President - The 113th Congress - Securities and Exchange Commission - Small Business Investor Alliance (SBIA) - Managed Fund Association (MFA) -...more

Emerging Statutory Threats to Recourse Triggers

A new type of threat is emerging that may thwart special servicer collections: retroactive state legislation. For most CMBS collection actions involving nonrecourse loans, the issue of springing recourse triggers (so-called...more

Governor Corbett Signs into Law an Amendment to Act 47 Concerning Distressed Municipalities in Pennsylvania

On July 5, 2012, Governor Tom Corbett signed into law Senate Bill No. 1321, designated as Act 133 of 2012 ("Act 133"), which amends the Municipalities Financial Recovery Act, P.L. 246, No. 47, as amended ("Act 47"), to (i)...more

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