How Leading Philippine Companies are Using Bonds to Their Advantage
Can I collect my judgment if the other side is appealing?
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
Bill on Bankruptcy: Rakoff Reverses Himself in Madoff Case
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
High yield bond offerings have been a core component of the European leveraged finance segment since 2009. The value of European high yield bond issuances has increased dramatically, more than doubling from 2011 to 2014...more
In This Issue:
- Civil Code Reform: contracts and obligations
- New Development Bank BRICS
- Employment/Foreign Citizens
- Securities: bondholders; information disclosure
- Excerpt from New Development Bank...more
There is little poetry in tobacco bonds these days. Cigarette consumption has declined beyond projections, and the advent of e-cigarettes may exacerbate the decline. Payments under the Master Settlement Agreement (MSA) are...more
Two recent SEC enforcement actions demonstrate that the Securities and Exchange Commission remains intently focused on the municipal market and, in particular, on officials participating in financings that fail to accurately...more
At the November 17, 2014 meeting of the Valuation of Securities Task Force of the NAIC’s Financial Condition (E) Committee, a proposal was received from the North American CRO [Chief Risk Officers] Council to modify the...more
The ECB announced on Thursday that it would start its purchase of sovereign bonds on March 9 to support an accelerating economic recovery in the Eurozone, and would continue to do so until there was a “sustained adjustment in...more
German Federal Court of Justice decision paves the way for bond restructurings under 2009 Bonds Act.
The German Federal Court of Justice (the Court) recently published its first decision on the reformed German Bond Act...more
The House of Representatives adopted several ethics reform measures (public meeting notice, Freedom of Information Act/public records, and public official reporting requirements) this week. In addition, the House Ways and...more
The Texas Supreme Court will hear argument in two mandamus petitions on Wednesday, February 25, 2015, beginning at 9:00 am. ...more
On February 18, DBRS released its methodology for assessing RMBS servicing advance transactions. On February 16, Fitch released its criteria for assessing covered bonds of European public entities....more
DLA Piper’s Financial Services International Regulatory team welcomes you to the twenty-fifth edition of ‘Exchange – International’ – an international newsletter designed to keep you informed of regulatory developments in the...more
As we have noted in previous client advisories, under current law, direct pay bond subsidy payments are subject to federal budgetary sequestration through fiscal year 2024. On February 2, 2015, the Office of Management and...more
Several proposals affecting tax-exempt bonds were included in the Obama Administration's Budget for FY 2016. As usual, the overall budget proposal has immediately been declared DOA by political pundits. Nonetheless, taking...more
In This Issue:
- A new dawn: Record year for debt heralds new era
- On good terms: Convergence drives issuer-friendly markets
- State of play: Global debt markets positioned for growth
The Obama administration's proposed 2016 budget, released on February 2, 2015, reflects the administration's commitment to finding ways to finance the country’s growing infrastructure requirements. The 2016 budget includes...more
On February 3, the Internal Revenue Service (IRS) released Notice 2015-12 (the Notice) which solicited applications for a third round of allocations of volume cap for new clean renewable energy bonds (New CREBs) under Section...more
On February 2, 2015, the President of the Republic of Poland signed a new law on bonds, which will come into force on July 1, 2015, replacing the Bond Act of June 29, 1995. The purpose of the new law is to replace the...more
In order to obtain a an injunction under federal law, the moving party has to show each of the following...
(i) It has a likelihood of success on the merits of its claim.
(ii) Without injunctive relief, it would...more
We are coming off a solid economic performance in 2014 marked by improvements in hiring, wages and corporate investments. It has been a magnificent year for both the stock and bond markets, even with a...more
Investor enthusiasm in Europe for high-yield bonds reached a peak in July 2014, followed by a quiet August and September before the market returned, driven by M&A activity. Despite an inconsistent year, European high-yield...more
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
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