18 Dec
Member News, News

DeVore & DeMarco Client Alert: SONY v. Democratic People’s Republic of Korea?

As relentless news reports have made clear, Sony Pictures Entertainment has suffered -- and continues to suffer -- a devastating cyber-attack on its computer systems.  According to press reports, a hacker group known as the “Guardians of Peace,” or “GOP,” has taken credit for the attack, which has paralyzed Sony’s network and leaked much as 100 terabytes of confidential information. Leaked data has included Social Security Numbers, employee and talent salaries, account and administrative passwords, sales plans, sensitive employee emails...

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16 Dec
Chapter News, News

January 1, 2015 is €-Day for Lithuania

On January 1, 2015, Lithuania becomes the 19th EU Member State to adopt the euro as its currency, completing the shift by all three Baltic nations to the EU’s single currency. The EU Member States that have adopted the euro constitute the euro area, and all are subject to the monetary policy set by the European Central Bank. Lithuania satisfied the necessary economic convergence criteria prior to taking this historic step: •    Price stability. The inflation rate should not be more...

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15 Dec
Chapter News, New York Related News

Comptroller Scott M. Stringer Releases a Request for Information about Electronic Processing of Contract Invoices and Payments

On December 5, 2014, the Comptroller's Office released a Request for Information (RFI) in order to invite responses and gather information regarding options for electronic processing of contract invoices and payments. The Comptroller is seeking information regarding new technologies and approaches to inform the transition of the invoice submission, review, and approval processes from their mostly paper-based current state to an electronic solution in a secure, scalable, and cost effective manner. The RFI can be found at: https://comptroller.nyc.gov/forms-n-rfps/rfps-n-solicitations/?id=7#active. The Comptroller’s Office is considering holding a pre-submission...

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12 Dec
Chapter News

Investing in Long-Term Europe: Re-Launching Fixed, Network and Social Infrastructure

Pierre Moscovici, Commissioner for Economic and Financial Affairs, Taxation and Customs | Conference "Investing in Long-Term Europe: Re-Launching Fixed, Network and Social Infrastructure" | Rome, 12 December 2014 "Ladies and gentlemen, dear Colleagues, It is a real pleasure for me to speak in front of you today. The first day of this Conference has been very fruitful in bringing together academics, investors, and policy makers, from Europe and from the member states, around one subject: how to make long term investment in Europe happen...

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11 Dec
Chapter News, News

Food: EU consumers to benefit from better labelling as of 13 December 2014

As of 13 December 2014, new EU food labelling rules, adopted by the European Parliament and the Council in 2011, will ensure that consumers receive clearer, more comprehensive and accurate information on food content, and help them make informed choices about what they eat. The EU Commissioner in charge of Health and Food Safety, Vytenis Andriukaitis said: "As of 13 December 2014, European citizens will see the results of years of work to improve food labelling rules. Key content information...

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10 Dec
Member News, News

DS-Concept Provides $4 Million Factoring Facility to Multinational Seafood Exporter

DS-Concept Factoring, a global commercial finance company specializing in international non-recourse factoring, has provided a $4 million export accounts receivable facility to a multinational shrimp exporter headquartered in Spain with facilities in the US and Argentina. The client, who provides cold water shrimp to retailers and wholesalers in Europe, Asia, the US, and GCC, is growing rapidly because of falling exports from the US and anticipates a total factored volume in excess of $30 million for 2015. "We’re very pleased...

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09 Dec
Chapter News, New York Related News, News

NYC Deputy Mayor, NYCEDC President, Manufacture New York and Salmar Properties Announce New Fashion Design and Manufacturing Hub in Brooklyn

City Investment of $3.5 Million Will Support Local Apparel Manufacturing, Emerging Fashion Designers and the Creation of Quality Jobs Deputy Mayor for Housing and Economic Development Alicia Glen, New York City Economic Development Corporation (NYCEDC) President Kyle Kimball, Manufacture New York CEO Bob Bland and Salmar Properties Co-Founder Marvin Schein today announced the creation of the Manufacturing Innovation Hub for Apparel, Textiles + Wearable Tech, an innovative fashion manufacturing and design hub in Sunset Park, Brooklyn. Located at the privately-operated...

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09 Dec
Chapter News, News

Investment plan for the EU gets backed by the Council

Meeting on 9 December in Brussels, EU finance ministers gave their broad support to the Commission's recently announced €315 billion investment plan. They also approved two measures for combating tax fraud and tax avoidance, and agreed on the calculation of the contributions to the single resolution fund. Investment plan for Europe The Council heard a presentation by the Commission and the European Investment Bank (EIB) on the work of a task force, established in the autumn to identify possible investment projects. The Commission's €315...

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09 Dec
Chapter News

Council discusses data protection reform

At the Justice and Home Affairs Council, on 4 and 5 December 2014, ministers reached a partial general approach on the proposed data protection regulation. The partial general approach covers articles crucial to the question of the public sector. It also comprises provisions relating to specific data processing situations (Chapter IX). In addition, ministers held a debate on the "one stop shop" mechanism, on the basis of a proposal presented by the Presidency. This proposal tried to keep the principle of...

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09 Dec
Member News, News

New Life for an Old Garment District Building Means Probable Defeasance

The Lightstone Group will be clearing out 485 Seventh Avenue over the next year for a gut renovation of their newest investment. Crains New York reported that Eretz Group recently sold the building to Lightstone for $200 million. The property is situated between Times Square and Penn Station, a location that Lightstone believes is best suited for a hotel or a high-end office building. Current leases in the building can be terminated within a year to make way for the coming renovations. The 255,908...

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