Wednesday, the Federal Communications Commission (FCC or Commission) announced September 11, 2024 as the effective date of two rules initially adopted in the agency’s Team Telecom Process Reform Report and Order....more
On June 21, 2024, the Biden administration rolled out its outbound investment screening regulations. Last year, the Biden administration published an advanced notice of proposed rulemaking (ANPRM) that outlined the broad...more
It is a basic principle of the income tax that the gain or loss realized by a taxpayer from the conversion of property into cash, or from the exchange of property for other property that differs materially in kind from the...more
As global markets continue to adapt to a new normal, a clear understanding of the structural nuances, risk considerations, and strategic objectives inherent in varying transaction structures enables investors to remain agile...more
One of the keys of successful private equity investing is properly aligning the economic incentives and interests of the sponsor and its portfolio companies’ management teams as they evolve over time....more
After much anticipation, on February 22, 2024, British Columbia announced its intention to create a First Nations Equity Financing Framework (Framework) as part of its latest budget and fiscal plan. The Framework aligns with...more
Japanese heavy-industries companies that typically act as contractors or suppliers on projects are increasingly invited to contribute as equity investors in the projects they construct or supply major equipment to, thereby...more
Adverse tax issues can arise for physicians and other professional practice groups interested in issuing equity to attract and retain junior physicians. If equity is issued at below fair market value, the new equity owner...more
In recent times, the U.S. office sector has experienced an unprecedented shift in supply and demand dynamics. Recent Cushman and Wakefield reports suggest that by the end of the decade, there could be an excess of 330 million...more
For many years, most bankers and finance lawyers assumed that any involvement in insurance or reinsurance projects meant venturing into the dark arts of financial services and exercising a degree of alchemy that only a...more
The Israel Tax Authority’s May 2023 guidelines state that, under particular circumstances, investments via SAFEs (simple agreement for future equity) will be considered an advance on a share investment account. That being the...more
When making a venture capital or growth equity investment, perhaps the most critical priority is confirming that your pro-forma ownership percentage of the company aligns with your investment expectations – in short, that you...more
In In re CII Parent, Inc., the Bankruptcy Court for the District of Delaware affirmed a secured lender’s prepetition exercise of its proxy rights and its subsequent removal and replacement of the directors/managers of the...more
As the commercial real estate market continues to be strained by a combination of rising interest rates and a pending recession, causing a decline in commercial real estate valuations and a restricted lending market, the need...more
2022 saw a gradual return of Japanese operating leases (JOLs) and Japanese operating leases with call options (JOLCOs) in the aviation sector. These products are essentially used to deploy Japanese equity, bringing back more...more
In the January 2023 legislative session, New York State Senators Salazar, Brisport, Hoylman, Jackson, Myrie, and Rivera submitted a bill, S-318 which seeks to impose a mortgage tax on mezzanine debt on, and preferred equity...more
New York State lawmakers have reintroduced proposals to impose a tax on the creation of mezzanine debt and preferred equity. Both the New York Senate and Assembly have put forward similar bills that would require both...more
As growth equity investment strategies gain prominence in global private equity fundraising and institutional capital allocation, we have seen an increase in this type of investment in Canadian companies, particularly by U.S....more
On December 13, the U.S. Attorney’s Office for the Southern District of New York (the “U.S. Attorney’s Office”), the U.S. Securities and Exchange Commission (the “SEC”), and the U.S. Commodity Futures Trading Commission (the...more
A SAFE is designed to be short and straightforward. In essence, the investor provides cash now against a promise to receive shares in the future. The challenges of negotiating full transaction documents, including agreement...more
What is the Equity Multiple? - The equity multiple for an investment is the sum of all cash flow to the investor from the investment divided by the investor’s investment amount. The equity multiple is usually reported as...more
UK & European Financial Services M&A: Sector trends H2 2021 | H1 2022 — Stock Exchanges/Trading Venues - Europe's FMI goes digital—data analytics, capital markets solutions, RegTech and DLT-based tech acquisitions feed the...more
In recent years, hotel sponsors and developers have increasingly turned to alternative capital sources, like preferred equity, to finance and reposition their existing assets and fund new acquisition and development...more