News & Analysis as of

SPEs

Commercial Division Rules that U.S. Treasury Secretary’s Access to a Company’s Detailed Financial Information in His Role as a...

Members of a company’s board who are also investors in the company often have access to detailed information about the company’s finances and its lending facilities. But what happens when an investor-board member could,...more

West Coast Real Estate Update: November 2016 #2

by Holland & Knight LLP on

California Appellate Court Overturns “Sham Guaranty” Defense - The single-purpose entity (SPE) has become a ubiquitous tool in commercial real estate acquisitions and financing in California. Lenders increasingly require...more

An Ombudsman in Shining Armor: Spotlight on the USPTO Patents Ombudsman Program

The United States Patent and Trademark Office (“USPTO”) introduced the Ombudsman Program on April 6, 2010 with the ostensible goal of advancing patent applications that have stalled during the examination process. Since its...more

California appeals court rejects ‘creative’ sham guaranty defense

by Thompson Coburn LLP on

In what can only be described as pure “chutzpah,” a commercial real estate investment fund argued that it was the alter ego of its property-level SPE to avoid liability under a guaranty. While the strategy worked in the trial...more

Real Estate and Land Use - February 2016

New Draft CEQA Guidelines Evaluating Transportation Impacts—Level of Service No Longer Considered to Be an Environmental Impact - The Governor's Office of Planning and Research (OPR) was mandated by SB 743 in 2013 to...more

California’s Harley-Davidson Decision Rides over Nexus Lines

by McDermott Will & Emery on

On May 28 2015, The California Court of Appeals issued a decision in Harley-Davidson, Inc. v. Franchise Tax Board, 187 Cal.Rptr.3d 672; and it was ultimately about much more than the validity of an election within...more

IRS Ruling Addresses LLC Eligibility for Cancellation of Debt Exception

by Goulston & Storrs PC on

In new CCA 201525010, the IRS addressed the issue of whether a general “exculpatory” debt of an LLC is recourse or non-recourse for purposes of classifying debt-relief as potential cancellation of debt (COD) income. Recourse...more

Another Bankruptcy Proofing Strategy Bites the Dust, or Does It?

In an effort to minimize the risk of loss in connection with a loan default, lenders often employ creative means to make it difficult, if not impossible, for a borrower to file bankruptcy....more

How Remote is Bankruptcy Remote? Is an Operating Agreement Restriction Against a Bankruptcy Filing Without the Unanimous Consent...

by Allen Matkins on

Nonrecourse financing is common in today's commercial real estate lending market. So too are the use of special purpose entities ("SPEs") and limited guaranties from SPE members of all or a portion of the debt, the latter of...more

DOJ Fires Back in SolarCity Cash Grant Litigation Motion to Dismiss Battle

On August 12, the Department of Justice filed a brief in response to the plaintiffs’ opposition to DOJ’s motion to dismiss. A copy of the brief is available here. The plaintiffs are special purpose entities that invested in...more

Orrick's Derivatives in Review - June 11,2013

The Derivatives in Review highlights important legal, regulatory and other newsworthy developments in the area of derivatives....more

California Court Finds Securitization Entities Subject to California Income Tax

by Reed Smith on

A California Superior Court has issued a decision with significant impact on financial services. In the case, Harley-Davidson, Inc. v. Franchise Tax Board, San Diego Superior Court Judge Joel Pressman held that...more

12 Results
|
View per page
Page: of 1
Cybersecurity

"My best business intelligence,
in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
Sign up using*

Already signed up? Log in here

*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.