Member News

03 Aug
Member News

Temporary U.S. Visitor Visas

Increasingly, foreign nationals who want to visit the U.S. temporarily – for business, to visit an ill relative, or for vacation – are unable to secure a U.S. visa. In some cases, their visa request is denied; in others, their existing visa is revoked. The applicant is typically seeking a B-1 (for business) and/or B-2 (for pleasure, tourism and / or medical treatment). And in the context of recent U.S. sanctions on Russians and Venezuelans, foreign nationals must also...

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31 Jul
Member News

Honey, is that a drone outside our bathroom window?

Drones, also known as unmanned aerial vehicles or remotely piloted aircraft (RPA), are not new. Indeed, drones were first developed in the '50s and have been used by the military for years. However, drones have only recently come on the civilian market. There are many possible commercial applications for drones, ranging from leisure, photography and logistics to the surveillance of infrastructures and crops. As with all new technologies, it is expected that the development of RPA technology will create new...

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31 Jul
Member News

The quest for certainty in the Bitcoin world

Historically, national currencies were based on a gold standard, then gradually on the belief that the State which issues the currency will be able to guarantee its value and its stability. With the emergence of multiple financial and economic crises, the reliance on States and confidence in the financial industry have declined and virtual currencies, which were initially confined to a very few initiated people, gained the interest of an ever growing part of the population. Bitcoin and other virtual currencies...

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31 Jul
Member News

July CMBS Losses: Property Type and Loan Size

Trepp's July loss analysis showed a second straight month-over-month drop in CMBS loans resolved with losses. Four loans took losses of 100% or more and two B notes were written off in full. Another two B notes were resolved with less than 100% loss. The $65.00 million Philips at Sunrise Shopping Center loan was disposed with a 20.88% loss and the $33.00 million Goodwin Square office loan in Hartford, CT took an 83.60% loss. Ignoring one small manufactured housing loan that took a 150% loss,...

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30 Jul
Member News, Uncategorized

ESMA Issues Opinion on European Passport Extension

Further to recent briefings, ESMA has today published its advice in relation to the application of the Passport to non-EU AIFMs and AIFs (“Advice”) together with its opinion on the functioning of the passport for EU AIFMs and the national private placement regimes (“NPPRs”) (“Opinion”). The Advice and Opinion, required under AIFMD, will now be considered by the European Commission, Parliament and Council. Regarding the advice on the potential extension of the passport, ESMA opted for a country-by-country assessment to...

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29 Jul
Member News

Value Creation in a Low-Growth World

How can companies identify value-creating opportunities in a global economy that is increasingly shaped by disruptive technologies and new ways of doing business? At an event hosted by AlixPartners in New York entitled Value Creation Amid Global Disruption, we gathered influential speakers and corporate leaders to try to answer that question. Together with ABC News chief global affairs correspondent Martha Raddatz, AT&T senior vice president and chief security officer Ed Amoroso, and GoCoin CEO and founder Steve Beauregard, we discussed...

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29 Jul
Member News

New Jersey Office/Industrial Portfolio Sent to Special Servicing

According to an email from Fitch on Tuesday, the $80.3 million Atlantic Development Portfolio loan has been sent to special servicing. The note makes up 4.15% of the collateral behind JPMCC 2005-LDP5. Servicer comments indicate that the loan is backed by eight properties spread across Warren and Somerset, New Jersey, but one of the properties may have been released. The original five offices and three industrial properties totaled 902,237 square feet but servicer notes indicate that the portfolio is now just under 800,000 square...

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22 Jul
Member News, News

Residential Real Estate Valuation Model Contest

Real estate valuation modeling (specification and calibration) has evolved significantly in the past 40 years. To demonstrate the current statistical quality and variety of valuation model structures, the GIS/CAMA Technologies Conference organizers, International Association of Assessing Officers (IAAO) and Urban and Regional Information Systems Association (URISA) and sponsor, NCSS, LLC, are supporting the Residential Valuation Model Contest. IPTI, the International Property Tax Institute, a member of the EACCNY is asking beginner-to-expert volunteer modelers to provide their talents for the competition....

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22 Jul
Member News, News

CBP Issues Directive on GSP Refund Procedures

On June 29, 2015, President Obama signed the Trade Preferences Extension Act of 2015 (H.R. 1295), which renewed the Generalized System of Preferences program (GSP), effective July 29, 2015 and retroactively to July 31, 2013. CBP has posted a directive on its website outlining how it intends to process duty refunds for GSP eligible merchandise which was entered between July 31, 2013, and July 29, 2015. CBP states that it will process refunds for entries filed via the Automated Broker...

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