For loans primarily secured by a cash flow stream, subscription facility lenders heavily depend on collateral accounts as a key element of the security package. In this Legal Update, we delve into why subscription facilities...more
Something big happened in the Celsius bankruptcy case last week. The filed by the Office of The United States Trustee (“UST”), a part of the US Department of Justice, has filed a motion asking the Court to appoint an examiner...more
A federal district court in North Dakota recently granted an insurer’s motion to dismiss in Campbell Property Management LLC v. Lloyd’s Syndicate 3624, finding that both prongs of a “commingling exclusion” to coverage...more
One of the more complex issues we see when addressing alimony and equitable distribution relates to inherited assets and the money (distributions, investment experience, interest, etc.) that emanates from them. Under New...more
The Law Commission has published its much anticipated report on reform of the UK's anti-money laundering and terrorism financing regime, and in particular of the system of suspicious activity reports ("SARs"). The proposed...more
In Arizona, a large percentage of divorces proceed without either party hiring a lawyer. As Arizona is a no-fault divorce state, couples do not need a specific reason to file for divorce – it is sufficient that the parties...more
New Inward Redomiciliation Regime Takes Effect - The inward redomiciliation procedure for foreign companies wishing to transfer their registration to the Singapore registry of companies came into force on 11 October 2017....more
The SEC charged a 25 year veteran of the nursing home and retirement community business with offering fraud. The defendant has been involved multiple offerings, raising over $190 million. SEC v. Brogdon, (D. N.J. November 20,...more
With ever-growing concern about environmental liability exposures, many shareholders rely on corporate structures – both simple and complex – to help insulate themselves from direct responsibility for the acts and omissions...more
In this issue: - ISS Announces Launch of QuickScore 3.0 - SEC Provides Relief to GSEC From Rule 204 Close-Out Requirements - CFTC Extends Relief to FCMs from Certain Commingling Requirements -...more
On June 25, the Commodity Futures Trading Commission’s Division of Swap Dealer and Intermediary Oversight (DSIO) extended to October 31 the relief previously granted in CFTC No-Action Letters Nos. 14-02 and 14-45....more
In Webmediabrands, Inc. v. Latinvision, Inc., No. 601048/2010, the Supreme Court (J. Friedman) pierced the corporate veil at the summary judgment stage. Under New York law, the factors used to determine whether a court...more
On April 7, the Commodity Futures Trading Commission’s Division of Swap Dealer and Intermediary Oversight (DSIO) issued CFTC No-Action Letter No. 14-45, extending to June 30 the relief previously granted in CFTC No-Action...more
In the State of Arizona, any and all property is presumed to be community property. However, property is characterized at the time of its acquisition and therefore, if you owned property prior to your marriage, it is and...more
During its eight years on the air, Dog the Bounty Hunter brought audiences a weekly dose of Duane “Dog” Chapman’s successful bounty-hunting. This past November, Dog and his wife, Alice Barmore-Smith, succeeded in convincing...more
In This Issue: - It’s Always Something: The Repeated Assaults on Licensee Rights in Bankruptcy - Clearance: Start Early and Avoid the Clutter - New Faces - Points from the President - The...more
The Commodity Futures Exchange Commission has issued an exemptive order (Order) that permits the commingling and portfolio margining of cleared credit default swaps (CDS) and security-based swaps (SB CDS)...more