Last month, EACCNY member Trepp, LLC noted that the property behind the long-troubled, $41.3 million AT&T Consumer Services Headquarters loan would be auctioned off in early June. That auction took place and a Kroll email from yesterday indicated that the final bid was $9 million. That was said to have met the reserve price and the asset has been sold. Kroll is now expecting a 100% loss on the asset based upon that sales price. The face amount of the REO...

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The Netherlands is widely regarded as an attractive and sophisticated location for international business. Also in the changing international tax climate, the Dutch tax system is considered to be favourable for international transactions, due to the extensive tax treaty network, the generous participation exemption in corporate tax law, the absence of withholding taxes on royalties and interest payments, and the approach of the Dutch tax authorities. The Stibbe Tax team has considerable knowledge of and experience in domestic and international matters...

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World Trade Centers Association, Inc. (WTCA), the leading international trade association with “World Trade Center” Members around the world, has named Scott D. Ferguson its new Chief Executive Officer (CEO). A senior executive with a concentration in building sustainable business models, Ferguson brings more than 30 years of experience in international business and the WTC Network to the role. Most recently, he was President and CEO of Trade Centre Limited, an Atlantic Canadian organization that operates “World Trade Center Halifax”...

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It is hard to resist the temptation to tackle business challenges with horsepower: big budgets, long timelines and large-scale technology solutions. But often, what is really needed is finesse, sleuthing and a commitment to the human experience. We tend to over-index the hard outcomes like revenue, margin and under-invest in discovering the critical intangibles that drive long-term business. What do I mean by “intangibles?” • A broker focusing on sales commission might not realize that he can improve his closing rate by...

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Arendt & Medernach affiliate company, Arendt Services, has become the first Specialised PFS in Luxembourg to be ISO 22301 certified. This international certification confirms that Arendt Services has established reliable processes to ensure the continuity of its business activity and is therefore able to ensure service continuity to its customers. This certification has been obtained together with EBRC, a European specialist in ICT Solutions hosting Arendt Services in his TIER IV data center and providing consultancy services. The double certification by EBRC...

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GRANITO, using their experience in Alternative Dispute Resolution both as an Arbitrator and participants' representative, continues to provide assistance to global businesses by protecting parties' interests in the fluid forum of international arbitrations. GRANITO understands the nuances of strategically maneuvering within the confines of a chosen choice of law, language and location in connection with resolving a dispute in an efficient and favorable manner. GRANITO welcomes companies inclined or compelled to arbitrate their disputes in the international arbitration arena to grow globally with it in 2016. © 2016 Granito Ltd. - a member of the EACCNY

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United States Citizenship and Immigration Services (USCIS) has started to notify employers of whether their H-1B petitions were selected in USCIS’s fiscal year 2017 random selection process, or “lottery,” that took place in April of 2016. Approximately 85,000 H-1B workers selected in the quota will begin work in the United States on October 1, 2016, or shortly thereafter. The H-1B lottery selection provides employers with a useful reminder to reexamine the relevant regulatory obligations that attach with sponsorship of an H-1B employee. Of particular...

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The Atlantic’s "Next America: Higher Education" project recently highlighted IIE’s Generation Study Abroad, a five-year initiative to mobilize resources and commitments with the goal of doubling the number of U.S. students studying abroad to 6000,000 by the end of the decade.  "Right now, only around 10 percent of American college students study abroad. While people of color make up about 40 percent of each graduating class, they comprise just a quarter of those who go abroad. The numbers are especially...

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On 17 May 2016, the Council of Europe formally adopted the Network and Information Security (NIS) Directive, a Commission proposal in response to increasing concerns about cyber-attacks and privacy breaches. Agreed by Member States on 18 December 2015, the Directive aims to ensure a higher common threshold of cybersecurity across the EU through three main measures: • Enhancing Member States' national cybersecurity capabilities by requiring Member States to define cyber-security strategic objectives and regulatory measures; • Creating a "Cooperation Group" to support...

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Risk resiliency + risk agility = enduring success in PwC's 2016 Risk in review study. We live in turbulent times. Companies across industries have faced an unprecedented confluence of risks. It's no wonder that in PwC’s 19th Annual Global CEO study, 66% of CEOs saw more threats to their business than opportunities. To remain competitive, companies must pursue two parallel strategies: 1. Building agile and flexible risk management frameworks that can anticipate and prepare for the shifts that bring long-term success and 2. Building the resiliency that will enable those frameworks...

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