News & Analysis as of

Bonds

Volkswagen Bondholders Reliance Allegations Come Under Scrutiny

This case stems from alleged misstatement made by Volkswagen Group of America Finance (“VWGoAF”) in an Offering Memorandum governing the issuance of three sets of bonds. The bonds were offered in private placements with...more

Proskauer’s 2018 Global High-Yield Bond Study

by Proskauer Rose LLP on

Overview and Methodology - Welcome to this seventh edition of Proskauer’s Global High-Yield Bond Study, our analysis of market trends for high-yield bond offerings. Using analyses from our proprietary database of...more

Words and Numbers: Contractor Forfeits Bid Bond When It Mistakenly Leaves Out “Thousand” Word

by Burr & Forman on

Contractors make mistakes with words. Contractors make mistakes with numbers. And sometimes, a mistake with words leads to a mistake with numbers....more

Orrick's Financial Industry Week In Review

Division of Investment Management of the SEC Issues No-Action Letter to SSB - On May 8, 2018, the Chief Counsel's Office of the Division of Investment Management ("IM") of the Securities and Exchange Commission (the...more

L'Agenzia delle Entrate commenta il regime fiscale del private placement di MiniBond non quotati

E' di pochi giorni orsono la risposta della Direzione Centrale della Agenzia delle Entrate ad una istanza di Interpello avente ad oggetto il regime fiscale applicabile ad un prestito obbligazionario non negoziato su ExtraMOT...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

Commerce Department data released yesterday showed strong across-the-board consumer spending in April, a nominally good sign but one that pushed bond yields higher and sent most equities lower for the day, snapping an 8-day...more

IRS Expands Remedial Action Options for Tax-Exempt Bonds

by Miles & Stockbridge P.C. on

On April 11, 2018, the Internal Revenue Service published Revenue Procedure 2018-26 (“Rev. Proc. 2018-26”), providing new guidance to issuers on the availability of remedial actions to preserve the status of tax advantaged...more

Appealing A South Carolina State Tax Case: Payment Or Bond?

by McNair Law Firm, P.A. on

Taxpayers who disagree with a proposed tax assessment issued by the South Carolina Department of Revenue (SCDOR or DOR) may or may not be able reach an agreement at the administrative level. When taxpayers and SCDOR cannot...more

PRIIPs and Capital Markets Transactions: A Better Way Forward?”

by Shearman & Sterling LLP on

The EU’s PRIIPs Regulation (Regulation (EU) No 1286/2014) (the “PRIIPs Regulation”), which came into effect on January 1 this year, has had a significant effect on practices in the wholesale capital markets. Many new...more

When Is a Loan “Green”?

by Bennett Jones LLP on

New international guidelines on environmental sustainability adopted from green bonds allow lenders and borrowers to designate “green loans" - More than US $150 billion in “green bonds”—bonds that fund projects that...more

Industrial Development Bonds And The Mystery Of Federal Preemption

by Allen Matkins on

This should be a straightforward question - Are qualification and registration requirements under state securities laws preempted with respect to industrial development bonds? When Congress enacted the National Securities...more

IRS Provides Issuers Of Tax-Advantaged Debt with New "DIY" Tools to Fix Nonqualified Use

by Bracewell LLP on

On April 11, 2018, the IRS released Revenue Procedure 2018-26 (“Rev. Proc. 2018-26”), which provides an expansion of the remedial actions available to issuers of tax-advantaged bonds. Specifically Rev. Proc. 2018-26...more

Chris Lazarini Examines Statute of Limitations Related to Breach of Fiduciary Duty

by Bass, Berry & Sims PLC on

Bass, Berry & Sims attorney Chris Lazarini examined a case of alleged breach of trust and breach of fiduciary duty against a bank acting as the indenture trustee related to a foreclosure action on defaulted mortgage revenue...more

European Commission Proposes EU Covered Bonds Legislative Package

by Shearman & Sterling LLP on

The European Commission has published legislative proposals for a new EU covered bonds framework. The legislative package consists of a proposed Directive on the issue of covered bonds and covered bond public supervision and...more

2017 Summary Of New Maine Laws & Carry Over Legislation - State of Maine 128th Legislature, 1st Regular Session

by Pierce Atwood LLP on

Overview - 2017 Summary of New Maine Laws & Carry Over Legislation - The new laws highlighted in this summary are those most relevant to our clients and does not include all laws enacted this past session. This summary of...more

Vermont Legislative Update 03-02-2018 - An analysis from DRM's Government & Public Affairs Team

When it returns on March 13, the Vermont Senate is expected to consider S.197, a bill that creates strict liability for damage to property and human health for the release of many harmful substance into the environment, and...more

Chris Lazarini Analyzes "Common and Usual Meaning" Interpretation of Insurance Contracts

by Bass, Berry & Sims PLC on

Bass, Berry & Sims attorney Chris Lazarini analyzed a case in which UBS Puerto Rico sought to overcome its insurance carriers' refusal to defend and provide coverage for two civil actions, settlements with the SEC and FINRA...more

Trump’s Tax Reform: Effect on Nonprofits

by Bowditch & Dewey on

The Administration’s frenzy to pass “tax reform” created tax breaks for some—I’m looking at you, the Trump family—increased taxes for others, and confusion for everyone, at least until the IRS is able to promulgate official...more

SCOTUS Overturns Decision on Bond Hearings for Detainees Subject to Indefinite Detention

by Foley Hoag LLP on

Do noncitizens detained for a long time while their cases are pending have the right to a hearing to determine whether they can be released on bond? This was the question posed in the Jennings v. Rodriguez case, a...more

SCC Provides Guidance on Trustees’ Duty to Disclose Construction Bonds to Beneficiaries

The Supreme Court of Canada (SCC) ruled in its recent decision, Valard Construction Ltd. v. Bird Construction Co. (Valard Construction), that an “obligee” or trustee under a labour and material payment bond (usually the owner...more

Supreme Court Decides Jennings v. Rodriguez

by Faegre Baker Daniels on

On February 27, 2018, the U.S. Supreme Court decided Jennings v. Rodriguez, holding that 8 U.S.C. §§ 1225(b), 1226(a), and 1226(c) do not give detained aliens the right to periodic bond hearings during the course of their...more

White House Releases New Infrastructure Framework

by Ballard Spahr LLP on

On February 12, 2018, the White House released its “Legislative Outline for Rebuilding Infrastructure in America” proposing a legislative framework for the nation’s infrastructure needs. Key components of the proposed...more

Advance Refunding Bond Legislation of Interest to Non-Profit Hospitals and Senior Living Organizations

by Dorsey & Whitney LLP on

On February 13, in a matter of special note to non-profit hospitals and senior living organizations across the country, legislation was introduced in the United States House of Representatives that would restore tax exemption...more

Administration's Infrastructure Plan Supports Reuse of Brownfields and Superfund Sites

by Holland & Knight LLP on

• The Trump Administration released an ambitious $1.5 trillion infrastructure plan on Feb. 12, 2018 – a plan that includes many provisions focused upon encouraging the reuse of contaminated brownfields and Superfund sites. ...more

Private Activity Bonds Under President Trump's "Legislative Outline for Rebuilding Infrastructure in America"

by Ballard Spahr LLP on

The White House released a 53-page framework on Tuesday setting forth its legislative goals for rebuilding America's infrastructure (the Infrastructure Plan)....more

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