How Leading Philippine Companies are Using Bonds to Their Advantage
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Bill on Bankruptcy: US Airways Need a Merger More than AMR
Bill on Bankruptcy: Why is Kodak's Stock Soaring?
Bill on Bankruptcy: How Purchasers of AMR Stock Made a Killing
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Bill on Bankruptcy: MF Global Creditors Undeterred by Low Value
Bill on Bankruptcy: Will 2013 Be Kind To The Bankruptcy Bar?
Bill on Bankruptcy: Big Surprises For AMR, MF Global Creditors
The U.S. high-yield market delivered the third strongest year by volume in 2014, with more than $310 billion of primary issuances, thanks in large part to the most active year in the M&A market since before the financial...more
Restructuring decision broadly interpreting bondholder protections under the Trust Indenture Act may significantly impact out-of-court restructurings.
On December 30, 2014, the US District Court for the Southern...more
The ECB Governing Council will meet on 22 January and is expected to discuss implementing a quantitative easing (QE) policy which would result in national central banks buying Euro denominated government bonds from their own...more
Right out of the gate, both chambers of the Minnesota Legislature put forward transportation funding packages. It has been called the issue of the session. The need for reliable, efficient transportation touches everyone in...more
Although Illinois courts are generally presumed to have subject matter jurisdiction, that rule doesn’t apply when it comes time to review a decision of the Workers’ Compensation Commission. In order to initiate judicial...more
According to the Election Code, anyone wishing to get judicial review of a decision of an electoral board must “serve a copy of the petition upon the electoral board and other parties to the proceeding . . .”...more
As a result of November's elections, there is no longer one party control of Minnesota government. When the 89th session of the Minnesota Legislature convenes on January 6, 2015, the new House Republican majority, along with...more
The IRS recently published a December 9, 2014 Chief Counsel Advice Memorandum to the effect that the defeasance of taxable Build America Bonds (BABs) causes a tax reissuance of the bonds, with the consequence that the...more
Qualified Zone Academy Bonds
- The Act authorizes the Secretary of the Treasury to allocate an additional $400 million in QZABs for 2014. Prior to the Act, no additional allocations of QZABs were to be available to the...more
A post-Great Recession treat, the North Carolina Court of Appeals affirmed today a ruling that the Town of Black Mountain is entitled to enforce subdivision performance bonds originally in the name of Buncombe County, after...more
DOH and DASNY held the initial applicant’s conference today on the CFRP application process and provided highlights on the State’s proposed bonding of up to $1.2 billion in funding for projects furthering DSRIP goals. The RFA...more
Who: Plaintiffs: Fifth Third Bancorp and Fifth Third Bank
Defendants: Ace Insurance Company, Axis Insurance Company, Certain Underwriters at Lloyd’s, Continental Insurance Company, Federal Insurance Company,...more
A business man, a real estate company he acquired from his grandfather, a registered representative who has now been barred by FINRA from the securities business and Maryland Division of Securities from the advisory business...more
The SEC issued a no-action letter on November 13, 2014 to Social Finance, Inc., indicating that it would not recommend enforcement action against Social Finance for its conduct as an intermediary in social impact bond (SIB)...more
On October 24, 2014, the Internal Revenue Service (IRS) released Notice 2014-67, which provides guidance for determining whether a state or local governmental entity or an organization described by Section 501(c)(3) of the...more
The U.S. Securities and Exchange Commission recently settled the first securities fraud charges brought against a municipal official alleging “control person” status under the federal securities laws. The SEC’s settlement...more
On October 24, 2014, the Internal Revenue Service issued Notice 2014-67 (the “Notice”), which provides important guidance and increased flexibility for issuers and conduit borrowers of tax-exempt bonds regarding contracting...more
On October 29, the FOMC released its policy statement announcing an end to the Fed’s mortgage and treasury bond purchase program used to boost the economy. Quantitative Easing 3 (QE3) was the third in a series of subsequent...more
On October 24, 2014, the Internal Revenue Service (“IRS”) released Notice 2014-67 (the “Notice”), providing guidance with respect to Accountable Care Organizations and their use of tax-exempt bond financed projects. The...more
On October 24, 2014, the IRS released Notice 2014-67, which establishes more favorable safe harbors for types of service contracts and other arrangements using property financed with tax-exempt bonds. The Notice also provides...more
On Friday, Oct. 24, 2014, the Internal Revenue Service released interim guidance, Notice 2014-67, on whether a state or local government entity or an organization described in §501(c)(3) of the Internal Revenue Code of 1986,...more
One little-understood aspect of sweepstakes law are surety bonds, which are required to conduct sweepstakes in New York and Florida. For more insight on why sweepstakes sponsors need bonds and how the bonding process works, I...more
Could publicly offered solar bonds play a significant role in financing solar photovoltaic projects?
Solar energy company SolarCity Corporation appears to think so, as this morning it filed a registration statement...more
Issuers, underwriters and advisors in the municipal bond marketplace are facing unprecedented challenges from federal regulators in connection with both the issuance of bonds and ongoing post-issuance compliance. These...more
The California High-Speed Rail Authority (“CHSRA”) is gaining more steam in keeping the High-Speed Rail Project (the “Project”) on track. Today, the California Supreme Court issued a decision declining to review an appellate...more
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