The macro-economic landscape of recent years, marked by rising interest rates and inflationary pressures, has significantly escalated borrowing costs in the European mid-market. This has prompted borrowers to explore...more
As previously discussed in our Client Alert issued on December 18, 2020 (available here), the U.S. Securities and Exchange Commission (the “Commission”) adopted its final rule (the “Final Rule,” available here) requiring...more
On May 7, 2024, Morrison Foerster’s New York City office co-hosted a Private Markets Pop-Up with Kayo Conference Series, an event that brought together professional women across the private credit and private equity markets...more
The Federal Election Commission has issued an advisory opinion making it much easier for federal candidates to offload their paid canvassing programs onto state PACs, nonprofits, and super PACs. ...more
The 2024 presidential nominating conventions are only a few months away and both host cities — Milwaukee, where Republicans will gather in July, and Chicago, which welcomes Democrats in August — are hoping for returns to...more
Real estate funds and family offices are two types of investors that often (i) purchase equity interests in partnerships and (ii) make in-kind asset distributions for tax planning purposes. Well advised real estate and family...more
Let’s assume you own 114 acres in Tioga County Pennsylvania. In 2012, you signed an oil and gas lease with XYZ Drilling. Two years later they drill and complete the MUSKIE #1H Well. The royalty clause in the 2012 lease...more
On December 16, 2020, the Securities and Exchange Commission (SEC) voted to approve a Final Rule requiring companies to annually disclose information about payments they made to the U.S. government or any foreign government...more
Now that the calendar has flipped to 2020, planning and fundraising efforts are intensifying in advance of this summer’s national party conventions. ...more
Key Points - Holdco PIK financing instruments may present an attractive and/or alternative source of capital for private equity sponsors to finance acquisitions or to facilitate dividend recapitalisations. Creditors...more
The Federal Election Commission (FEC) released a draft advisory opinion (draft AO) this week, holding that a nonprofit corporation providing certain cybersecurity services to candidates and political parties are not in-kind...more
The FCC is poised to issued two orders: a $2 billion unfunded mandate “Small Cell” order that imposes rules akin to state small cell laws (such as SB 649 vetoed in 2017 by California Gov. Jerry Brown)....more
Lenders need to adopt some risk mitigation techniques as the market operates in frothy conditions - Against a backdrop of optimistic asset valuations driving increased leverage multiples across the large cap and...more
On June 21, 2018, the Supreme Court held in Wisconsin Central Ltd. v. United States that railroad stock options are not taxable compensation under the Railroad Retirement Tax Act of 1937 (the “RRTA”). This ruling represents...more
On June 21, 2018, the Supreme Court decided Wisconsin Central Ltd. v. United States, No. 17-530, holding that a railroad company’s employee stock options are not taxable “compensation” under the Railroad Retirement Tax Act...more
Under the Fair Labor Standards Act, employee compensation counted for purposes of fulfilling minimum wage and overtime obligations need not be paid all in cash. According to Section 203(m) of the FLSA, wages also include...more
This past week, on 1 December, the Senate voted 51-49 to advance its version of U.S. tax reform legislation. This sets the stage for a conference committee process to occur over the next two weeks, in which the Senate and...more
In a two to one decision, a panel of the Ninth Circuit Court of Appeals upheld in part and reversed in part the district court injunction that prohibited universities from denying certain forms of compensation to Division I...more
Investor enthusiasm for U.S. high-yield bonds continued in 2013. The market delivered the second-strongest year by volume, despite the summer’s increased interest rates and volatility resulting from speculation about the...more
The United States Bankruptcy Court for the Southern District of New York granted motions to dismiss involuntary Chapter 7 petitions filed against TPG Troy LLC and T3 Troy LLC (the Troy Entities). Petitioners filed numerous...more