Crises that can seriously damage a company’s and/or brand’s reputation are happening more frequently than ever, and thanks to the lightning speed of Internet communications, the news spreads fast. In spite of this, the majority of small and mid-size companies we work with have done little or no advanced planning to help get through a crisis. In addition, many very large international corporations are equally unprepared. Foreign companies are typically less prepared for crises in the U.S. than their...

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Download the PDF version of the August 2015 CMBS Delinquency Report The Trepp CMBS Delinquency Rate continued its summer trend of oscillation and inched up slightly in August. The delinquency rate for US commercial real estate loans in CMBS moved up three basis points in August to 5.45%. The increase undid July's three-basis-point improvement. The rate is now 65 basis points lower than the year-ago level and 30 basis points lower year-to-date. In August, $1.3 billion in loans became newly delinquent,...

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The U.S. Citizenship and Immigration Services (USCIS) released a policy memorandum aiming to clarify the standard required for L-1B specialized knowledge visas. The memorandum notably begins by reminding adjudicating officers that the L-1B visa category, which allows for the transfer of company personnel with specialized knowledge, is critical in fostering the growth and competitiveness of U.S. businesses in an increasingly global marketplace. By clearly articulating this context, the memorandum may yield some comfort to employers that have had to contend with...

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Federal Court Strikes Down STEM OPT Extension Rule but Stays Action Until 2016 As you are likely aware, F-1 students granted 12 months of Optional Practical Training (OPT) following graduation whose underlying degrees are in the field of science, technology, engineering, or mathematics (STEM) may be eligible for an additional period of 17 months of OPT, thanks to a 2008 Department of Homeland Security (DHS) regulation. That regulation was issued by DHS without first asking the public to comment on...

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Adelson Strategies is thrilled to be serving as Ambassador to the Americas for the Agricultural Cold Chain Logistics Committee ("ACCC") established by the China Communications and Transportation Association based in Shanghai, China. ACCC was formed to boost the Chinese cold chain logistics industry and to promote cooperation between cold chain logistics companies, food importers in China and vegetable, meat and seafood distributors around the world seeking business opportunities in China's growing market. Together, they have co-organized the ACCC 2015 China Import...

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The $410 million One & Two Prudential Plaza loan has paid off, resulting in a 100% loss to the B note. The loan, which was modified and bifurcated two years ago, was split between JPMCC 2006-LDP7 and JPMCC 2006-CB16. Because of the timing of the payoff, the LDP7 deal reflects the payment and the loss with the August remittance. For CB16, the payment will have to wait until September. Accordingly, you should trade JPMCC 2006-CB16 very carefully. The underlying property is a 2.2 million square-foot office complex in Chicago...

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The Volcker Rule was enacted into law as Section 619 of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (“Dodd-Frank Act”). The Volcker Rule generally prohibits banking entities1 and their affiliates from engaging in proprietary trading and acquiring or retaining any equity, partnership, or other ownership interest in a “covered fund.” The ban on investing in and owning “covered funds” exempts certain types of funds, under specified conditions, and permits de minimis investment in any such funds. Click Here for an update...

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Directive 2014/91/EU (the “UCITS V”) is due to come into effect on 18 March, 2016 and will amend Directive 2009/65/EC (the “UCITS Directive”). Amongst other matters, it sets down rules which a UCITS Management Company must comply with when establishing and applying a remuneration policy for certain categories of its staff. UCITS V also provides that the European Securities and Markets Authority (“ESMA”) shall issue guidelines addressed to competent authorities or financial market participants concerning the application of the...

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The following can be placed in the category of early speculation. Over the last week or so, several news outlets have published reports on Ernst & Young signing a lease for 125,000 square feet at The Corporate Office Centre at Tysons II in Fairfax County in Virginia. We've been looking high and low for indications as to whether this represents new, incremental EY space, or a relocation from other space in the DC area. At this point, we've been unable to definitely answer...

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