News & Analysis as of

Pledges

BCLP

ICAHN Settles With SEC for Failures to Disclose Key Details of Margin Loan Stock Pledges - Teaching Moment for Directors and...

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On August, 19, 2024, the SEC announced settled charges against Carl C. Icahn and his publicly traded company, Icahn Enterprises L.P. (IEP), for failing to disclose information relating to Icahn’s pledges of IEP securities –...more

White & Case LLP

The Grant of a Pledge in Financing Transactions Triggers FDI (Golden Power) Filing Requirement

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As part of a series of recent FDI reviews, the Italian government has determined that the grant of a pledge over shares of Italian companies in strategic sectors triggers the filing requirement under the Italian FDI regime,...more

Blank Rome LLP

A Promise Is a Promise: The Enforceability of Charitable Pledges under New York Law

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Charitable contributions are often utilized in estate planning to assist a client not only in supporting his or her favorite charities but also to reduce tax liabilities both during life and at death. However, before clients...more

White & Case LLP

Spotlight on Debt Finance: opportunities in the United Arab Emirates

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Whilst COVID-19 continues to disrupt finance markets across EMEA, the United Arab Emirates ("UAE") has nevertheless seen a continued interest in the development of its burgeoning finance market, with M&A activity remaining...more

Farella Braun + Martel LLP

Breaking up the Patent Monopoly for the Benefit of Batteries

The patent monopoly is at odds with the global need for battery storage technology. As the world mobilizes towards climate change solutions, companies with battery patents will face increasing pressure to share this critical...more

Faegre Drinker Biddle & Reath LLP

Supreme Court Decides Chiafalo v. Washington

On July 6, 2020, the U.S. Supreme Court decided Chiafalo v. Washington, No. 19-465, holding that states may penalize “faithless electors" who break their pledge to vote for their party’s presidential nominee. For every...more

Latham & Watkins LLP

Catalonian Civil Code Reform for Pledges to Secure Multiple Obligations Is Finally Approved

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The Catalonian Parliament approves the same measure it passed in 2019 but abrogated by failing to ratify it in time. On 21 May 2019, the Catalonian legislature passed Decree 9/2019 to modify certain articles of the...more

Morrison & Foerster LLP

U.S. SEC Adopts Rule Amendments To Simplify Guarantor And Pledgor Financial Disclosures

The U.S. Securities and Exchange Commission (the “SEC”) recently adopted amendments to the financial disclosure requirements applicable to registered debt offerings that include certain credit enhancements. The amendments...more

International Lawyers Network

The Open COVID Pledge

Intellectual property rights are – by definition – monopolistic. How, then, can researchers, charities and NGOs collaborate with business in the development of new technologies to control and eradicate COVID-19?...more

Latham & Watkins LLP

Catalonian Civil Code Reform Allows Pledges to Secure Multiple Obligations

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The Spanish financial market has welcomed the reform, which entered into force on 22 May 2019. On 21 May 2019, the Catalonian legislature passed Royal Decree 9/2019 to modify certain articles of the Catalonian Civil Code....more

Troutman Pepper

A Strategic Comparison Of Private Investment Fund Models

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Our law firm, Pepper Hamilton, regularly advises prospective private equity and hedge fund managers on the various legal structure options associated with launching a new private investment fund. In our experience, first-time...more

Bowditch & Dewey

Higher Education Institutions Join Fortune 500 Companies in Diversity and Inclusion Pledge

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A year ago, the CEO Action for Diversity and Inclusion launched (“the Action”). The Action, which is the brainchild of PricewaterhouseCooper’s (PwC) U.S. Chairman Tim Ryan, is a call to CEOs to pledge to advance the cause of...more

Skadden, Arps, Slate, Meagher & Flom LLP

US Steps Up Sanctions on Venezuela and Extends Limited Russia Sanctions Wind-Down Relief

The U.S. government recently took several actions involving the Venezuela- and Russia-related sanctions. On May 21, 2018, following the re-election of President Nicolás Maduro, President Donald Trump issued an executive order...more

McGuireWoods LLP

ISS Updates Proxy Voting Guidelines for U.S. Public Companies

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Last month, Institutional Shareholder Services (ISS) updated its proxy voting guidelines for the upcoming proxy season. The updates, summarized in part below, are effective for shareholder meetings on or after Feb. 1, 2018....more

Morgan Lewis

IRS and Treasury Department Release Notice Regarding Donor Advised Funds

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In addition to sponsoring organizations of donor advised funds, the Notice may also impact donors and other tax-exempt organizations, including both private foundations and public charities; affected parties should submit...more

Skadden, Arps, Slate, Meagher & Flom LLP

ISS Announces 2018 Updates to US Proxy Voting Guidelines

Proxy advisory firm Institutional Shareholder Services (ISS) recently announced updates to its U.S. proxy voting guidelines for the 2018 proxy season. Although the updates are not likely to have a significant impact on 2018...more

K&L Gates LLP

Latin America Enforcement and Security Guide

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In the current economic climate, it is important that lenders understand how they can enforce security and debt claims to help in assessing options in the event of default by their customers, and when structuring new lending....more

Fisher Phillips

Gigs Save the Day: Ride Sharing Companies Help Shine Light on HumanTrafficking

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Recently, the on-demand economy has made the news for the best reason possible: saving victims of human trafficking. In December 2016, an Uber driver in California alerted police after becoming concerned that his recent...more

Kelley Drye & Warren LLP

Enforcing Charitable Pledges: New York’s Shifting Landscape

On August 24, 2016, it was widely reported in the business media that Duke University had filed a claim against the estate of Aubrey McLendon, the former CEO of Chesapeake Energy Corp., who died in March 2016. The claim was...more

Coblentz Patch Duffy & Bass

What Does the Chan Zuckerberg Initiative Mean for Modern Philanthropy?

In an open letter to their newborn daughter last December, Facebook CEO Mark Zuckerberg and wife Priscilla Chan announced they will eventually give 99 percent of their Facebook shares during their lives to a variety of...more

Cooley LLP

Blog: Should Insiders Be Permitted To Pledge Their Company Shares?

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Many company policies prohibit (or severely limit) officers and directors from pledging their company shares against margin loans, and, as discussed in an article in last week’s WSJ, there seems to be good reason for that...more

Morrison & Foerster LLP

Recent Credit Agreement Restricts Ability of CLOs to Pledge Loans and Ability of Lenders to Sell Participations on the LSTA Form

A broadly-syndicated U.S.-law credit agreement which closed recently includes language limiting the ability of lenders to grant pledges or sell participation interests in their loans. The language appears to be intended to...more

Blank Rome LLP

Lenders' risk: Who really owns the collateral?

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Unlike real estate transactions where a lender can obtain title insurance, secured lenders are often relying upon the representations and warranties in their loan agreement and the borrower’s audited financial statements, if...more

Orrick, Herrington & Sutcliffe LLP

Orrick's Financial Industry Week in Review for March 10, 2014

Final Guidance for Medium-Sized Firms on Dodd-Frank Stress Tests - On March 5, the Fed, the FDIC, and the OCC issued final guidance which describes supervisory expectations for stress tests to be conducted by financial...more

Cohen & Gresser LLP

Disclosure tips for 2013

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The proxy and annual reporting season has begun, with relatively few changes in reporting requirements from last year. Here are some tips to take you through the season and prepare for changes to come. 1. Consider the...more

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