News & Analysis as of

Special Purpose Vehicles

Seward & Kissel LLP

Seward & Kissel Releases 2023 Established Manager Hedge Fund Study

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The 2023 Seward & Kissel Established Manager Hedge Fund Study (the “Study”) focuses on those Seward & Kissel investment manager clients that have been in business for at least 5 years and manage greater than $1 billion in...more

Proskauer Rose LLP

ILPA Guidance on NAV Facilities

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On 25 July 2024, the Institutional Limited Partners Association ("ILPA") published guidance (the "Guidance") on the use of net asset value ("NAV") facilities. The Guidance specifically applies to private equity funds and does...more

Walkers

Update on changes to the beneficial ownership regime in the Cayman Islands

Walkers on

Changes to the beneficial ownership regime took effect on 31 July 2024 and enforcement relating to the new requirements is suspended until early 2025. Many entities that previously had few or no obligations will have to...more

White & Case LLP

The Republic of Mozambique wins multibillion-dollar corruption case in the English High Court against Lebanese shipbuilding group,...

White & Case LLP on

Five years since the Republic of Mozambique issued its claim in the English High Court against Privinvest and other participants in one of the largest sovereign corruption scandals of modern memory – the so-called "Tuna Bond"...more

White & Case LLP

Candidates for Non-Traditional Securitizations

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The securitization or structured finance market has evolved from its early origins focused primarily on financial assets (e.g., mortgages, receivables, loans credit card accounts, etc.) to the world of non-traditional or...more

Goodwin

Proposed Amendments to Pillar Two Law in Luxembourg

Goodwin on

On 12 June 2024, Luxembourg published a bill of law amending the law of 22 December 2023 (the Pillar Two Law[1]) implementing EU directive no. 2022/2523, largely known as the “EU Minimum Tax Directive” or “Pillar Two...more

Walkers

Schemes of Arrangement – any interest?

Walkers on

In its recent judgment in Tristan Oil Ltd v The Scheme Creditors (BVIHCM 2023/0120) the BVI Commercial Court (the Hon. Justice Paul Webster (Ag.)) has considered the question of when a party not bound by a scheme of...more

Freiberger Haber LLP

The Assignment Of Litigation Rights And Champerty

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It is not often that we examine a case involving the doctrine of champerty. The last time we did so was on March 8, 2023 (here). We also examined the champerty doctrine in 2021 (here), 2020 (here), and 2016 (here)....more

Cadwalader, Wickersham & Taft LLP

Finance Frontiers February 2024 - Writing to Reach You – Investor Letters and Subscription Facilities

While Chris van Heerden’s recent article gave some cause for optimism over the fundraising environment for 2024, for now on the ground we are continuing to see significantly longer lead times before funds hit their target...more

International Lawyers Network

Buying and Selling Real Estate in Portugal (Updated)

KEY FACTS OF REAL ESTATE ACQUISITIONS UNDER PORTUGUESE LAW - I. INTRODUCTION - Portugal is an Iberian Peninsula country, bordered by the Atlantic to the west and south and Spain to the north and east. In addition to...more

Mayer Brown

The Benefits of Term Debt Tranches in Fund Finance Products – and What to Consider When Utilizing Term Debt

Mayer Brown on

With new banking rules on the horizon for financial institutions, lenders are looking for new strategies to bolster lending capacity and accommodate debt issuances. One such option is term debt....more

Dechert LLP

Two Months to Midnight for Securitizations: The Corporate Transparency Act Drops on January 1, 2024

Dechert LLP on

Corporate CLO issuers, regardless of whether they are organized onshore or offshore, should generally be exempt from Corporate Transparency Act reporting requirements, although onshore CLO co-issuers will likely be subject to...more

King & Spalding

Florida Federal Court Denies Deutsche Bank’s Request for a New Trial Over Ponzi Scheme

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On September 11, 2023, the U.S. District Court for the Southern District of Florida denied Deutsche Bank’s request for a new trial and required the bank to pay pre-judgment interest following a verdict handed down in April...more

Cadwalader, Wickersham & Taft LLP

Fed Issues FAQs Clarifying That Credit-Linked Notes Can Serve as Valid Capital Relief Tools for U.S. Banks

On September 28, the Federal Reserve Board (“FRB”) posted three new FAQs to its website regarding Regulation Q (Capital Adequacy of Bank Holding Companies, Savings and Loan Holding Companies, and State Member Banks). The FAQ...more

Holland & Knight LLP

A Fast Approach: The Corporate Transparency Act's Impending Impact on Business Aviation

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The Corporate Transparency Act (CTA), enacted by Congress as part of the Anti-Money Laundering Act of 2020, for the first time under federal law, requires the establishment of a centralized, national beneficial ownership...more

Morgan Lewis

HM Treasury Publishes Near-Final Draft of UK Securitisation Regulations 2023

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HM Treasury recently published a near-final draft of a statutory instrument that, together with rules to be made by the UK regulators, will replace the UK Securitisation Regulation. This will result in some noteworthy changes...more

Morgan Lewis

Amendments Introduced to the Singapore Companies Act Take Effect 1 July

Morgan Lewis on

The Companies, Business Trusts and Other Bodies (Miscellaneous Amendments) Act 2023 (the Amendment Act) will take effect on 1 July 2023 and introduce four key amendments to the Companies Act 1967 of Singapore (the CA). The...more

Shumaker, Loop & Kendrick, LLP

Golf Carts, Low-Speed Vehicles, and Public Roads, Oh My!

Recent years have seen more and more drivers adopting golf carts and low-speed vehicles as alternative modes of transportation in and around, and even outside, their communities. No longer relegated to the greens, sand traps,...more

International Lawyers Network

Buying and Selling Real Estate in Portugal (Updated)

KEY FACTS OF REAL ESTATE ACQUISITIONS UNDER PORTUGUESE LAW - I. INTRODUCTION - Portugal is an Iberian Peninsula country, bordered by the Atlantic to the west and south and Spain to the north and east. In addition to...more

Conyers

10 Things You Need to Know About… Utilising a Cayman Islands SPV for Aviation Finance Transactions

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Special purpose vehicles (SPVs) are commonly employed in cross-border aviation finance transactions, and can be a particularly useful structuring tool for both owners and financiers. In their most basic form, they offer a way...more

Seward & Kissel LLP

Private Equity Side Letters Post-ILPA 3.0

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In June 2019, the Institutional Limited Partners Association (“ILPA”) released the third edition of its private equity industry best practices principles fostering transparency, governance and alignment of interests for...more

Stikeman Elliott LLP

ASC and FCAA Amend Self-Certified Investor Prospectus Exemption

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The new self-certified prospectus exemption adopted in Alberta and Saskatchewan has been amended in an effort to address inefficiencies and shortfalls and to better facilitate the capital raising efforts of businesses in...more

Conyers

Ready to Fly: BVI Vehicles and Digital Business in Africa

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Nicholas Kuria discusses BVI Vehicles and Digital Business in Africa with Africa Legal. Corporate and technology, media and telecommunications (TMT) expert Nicholas Kuria recently discussed the evolution of digital...more

Cadwalader, Wickersham & Taft LLP

In Depth: Latest Compromise Text in Relation to AIFMD2 Proposals on Loan Origination Funds

On 1 June 2022, the French Presidency published its “final” compromise text in relation to the revision to the EU Alternative Investment Fund Managers Directive (known as “AIFMD2”). According to this latest AIFMD2...more

Sheppard Mullin Richter & Hampton LLP

California Court of Appeal Clarifies that a Derivative Plaintiff Must Demonstrate Both “Contemporaneous” and “Continuous”...

In Sirott v. Superior Court, 2022 Cal. App. LEXIS 389 (Cal. App. May 5, 2022), the First Appellate District of the California Court of Appeal (Humes, J.) analyzed the ownership requirements a plaintiff must satisfy to pursue...more

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