Novation

News & Analysis as of

Novations and Contract Transfers

In this presentation: - What is novation and what is required to effectuate such a transaction? - When are novations necessary and when can they be avoided? - What impact will a novation have on your...more

Novation in engineering and construction projects

Assignment and novation are important legal topics withreal ramifications for parties if they are not dealt withproperly. The idea behind them is simple and easier to grasp when having an understanding of the way in whichthey...more

Real Property, Financial Services & Title Insurance Case Law Update: Week Ending August 2, 2013

I. FLORIDA STATE CASES – JOURDAN HAYNES - Attorneys’ Fees: trial court did not abuse its discretion in awarding attorneys’ fees and costs of $74,429 against bank following dismissal of foreclosure action as sanction...more

Federal Contracts When Selling a Business

When selling a business, the owner must balance deal certainty, tax consequences, speed, regulatory clearances, third party consents and liability allocation. ...more

SDNY Holds Trustee Cannot Evade Section 546(g) Safe Harbor by Bringing Avoidance Action Under State Law

On June 11, 2013, Southern District of New York Judge Jed Rakoff dismissed the complaint of the Trustee for the SemGroup estate seeking to avoid a novation made to Barclays pre-bankruptcy under a swap agreement. The Court...more

CFTC No-Action Relief from Required Clearing for Some Partial Swap Novations and Terminations

On March 20, the CFTC issued a no-action letter providing relief from required clearing for a limited set of “stub swaps” that remain after the partial novation or partial termination of an original swap that was not required...more

CFTC Grants Relief from Required Clearing for Partial Novation and Partial Termination of Swaps

On March 20, the Commodity Future Trading Commission’s Division of Clearing and Risk granted no-action relief from the clearing requirement for “stub” swaps that result when two counterparties agree to reduce the notional...more

Orrick's Financial Industry Week in Review - March 25, 2013

In This Issue: *Financial Industry Developments - Agencies Issue Updated Leveraged Lending Guidance - CFTC No-Action Relief from Required Clearing for Some Partial Swap Novations and Terminations - FHFA...more

CFTC Provides Relief For Partial Swap Terminations

The CFTC’s Division of Clearing and Risk has issued a no-action letter that provides relief from required clearing for a limited set of “stub swaps” that remain after the partial novation or partial termination of an original...more

Corporate and Financial Weekly Digest - March 22, 2013

In this issue: - NASDAQ Proposes Internal Audit Function Requirement for Listed Issuers - FINRA’s Frequently Asked Questions on Electronic Blue Sheet Submissions Updated Regarding Order Execution Time -...more

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