Member News

24 Mar
Member News, News

A Second Home Run? Post-Petition Interest Claims Against Certain Lehman Entities May Be a Multiple of the Underlying Derivative Claims’ Face Amount

Creditors with allowed claims against Lehman Brothers OTC Derivatives Inc. ("LOTC") and Lehman Brothers Commercial Corporation ("LBCC") have already recovered 100 cents on the dollar on account of their claims due to a surplus at those estates.  That surplus also entitles claimants to post-petition interest ("PPI") at potentially a multiple of their original claims so long as creditors demand PPI before the newly established bar date of April 24, 2015 (the "PPI Bar Date") and such claim is allowed. However,...

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20 Mar
Member News, News

Protectionism Threatens Cross-Border Trade

Text by EACCNY member Salesupply, Global Express Association. Research by Global Express Association. Cross-border commerce: Facilitation customs procedures could increase trade volumes on average by 4,4 percent. The trend of global e-commerce growth is threatened by national governments increasingly engaging in protectionist measures in order to protect their home economies, warns the Global Express Association, the trade body representing DHL, FedEx, TNT and UPS in a new report. The organization suggests that easing customs procedures and facilitating the cross- border movement of...

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20 Mar
Member News

New York MetLife Offices Moving Under One Roof

Starting in December of next year, MetLife will begin to rein its New York City operations into its namesake tower at 200 Park Avenue. The insurance giant just penned a 12-year lease for about 550,000 square-feet at the 58-story, class-A building. This lease is a significant expansion from the 110,400 square-feet MetLife currently occupies. Barclays will be giving up a few floors in the tower as it signed the space initially leased until July 2017 back to owner Tishman Speyer. The relocation means...

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17 Mar
Member News, News

Missouri’s Largest Hospital Selects EACCNY member Sixième Son for New Audio Identity

CHICAGO and ST. LOUIS, Mo., – Audio branding continues to make waves in the marketing world in categories ranging from automotive to shopping malls and, most recently, in the hospital sector. Barnes-Jewish Hospital in St. Louis, Mo., has selected Sixième Son USA to create its audio identity, including a custom-tailored audio DNA and audio logo. The distinctive music will be adapted to videos and commercials as well as customer service lines. “We are pleased to collaborate with the hospital in helping...

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09 Mar
Member News, News

Connecticut Office Seeks Refinancing

Hines, Warren Private Clients, and Willett Companies are shopping for an $85 million floating-rate mortgage on their Class A office building 33 Benedict Place, which is located in downtown Greenwich, Connecticut. The new loan on the 119,344 square-foot space is intended to be used to payoff the current $70 million interest-only mortgage. The group of owners purchased the building from Unilever in 2005 for $87.5 million, and marketed the location for sale at around $140 million ($1,094 per square-foot) this past October without...

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09 Mar
Member News, News

Goldberg Segalla Accelerates Growth on Both Sides of the Atlantic

EACCNY member Goldberg Segalla is pleased to announce it has made significant moves that enhance the services it offers to its international client base and take its reach throughout the U.S. and across the globe to a new level. On March 9, Goldberg Segalla opened the doors of its North Carolina office. Led by nationally recognized insurance litigator David L. Brown, this team of seven lawyers brings a wealth of experience and extends Goldberg Segalla's footprint into several key jurisdictions in...

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06 Mar
Member News, News

ICAV legislation enacted

Ireland has been promising for some time to introduce a new type of corporate fund structure known as the "ICAV" which will not be required to be incorporated under the Irish Companies Acts and will not be a public limited company ("plc"). ICAVs will be available as UCITS and as AIFs, will offer a more administratively efficient structure for corporate fund vehicles (benefitting from the disapplication of company law provisions designed for trading companies), and will be structured so that...

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05 Mar
Member News, News, Uncategorized

EACCNY MEMBER INSIGHTS: E&Y on Global Hospitality: Top Thoughts for 2015

The global hospitality industry entered 2014 on an upward growth trajectory; a greater sense of optimism was palpable across most regions, as accelerating capital markets, favorable supply and demand balances, and strong investor appetites fueled higher transaction volumes and strengthened lodging fundamentals. Robust investor interest worldwide was reflected in the year’s key industry trends: •  More lodging projects broke ground as traditional lenders eased restrictions on construction loan originations. •  Accelerating cross-border capital flows intensified competition among domestic and international investor groups...

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04 Mar
Member News

SEC Targeting Broad Employee Confidentiality Clauses

The Securities and Exchange Commission (SEC) has recently contacted a number of companies seeking every confidentiality agreement, nondisclosure agreement, settlement agreement, and severance agreement the companies entered into with employees since the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank) went into effect. According to a February 25, 2015 Wall Street Journal article, the SEC is also seeking documents related to corporate training on confidentiality, as well as “all documents that refer or relate to whistleblowing” and a list...

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03 Mar
Member News, News

Post AIFMD – Is Europe Worth it?

The introduction of the Alternative Investment Fund Managers Directive has brought with it many challenges for managers of non-EU alternative investment funds (AIFs) wishing to market their funds to EU investors. Currently, and at the earliest until late summer 2015, non-EU AIFs can only be actively marketed within the EU using national private placement regimes (NPPRs). Until at least 2018, non-EU managers of AIFs can market their funds to professional investors using the NPPR applicable to each individual member state. AIFMs...

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