Member News

01 Mar
Member News

Seller-friendly Trends in M&A Transactions

Kramer Levin recently completed its internal study of acquisition agreements for private target M&A transactions, and compared this data with the 2015 American Bar Association (“ABA”) Private Targets Mergers & Acquisitions Deal Points Study and Kramer Levin’s 2013 internal deal points study of private target acquisition agreements. The results of these studies reveal a strong and continued shift toward seller-friendly terms in middle market M&A transactions. The shift is driven by robust competition in auctions, a continuing increase in sophistication...

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29 Feb
Member News, Uncategorized

New Tax Measures Announced

The Luxembourg Government presented today a new set of tax measures to be implemented by 2017, known as the 2017 tax reform package. The new measures concern both corporate and individual taxation, with a particular focus on social justice and international competitiveness. The amendments may be summarised as follows: Corporate taxation Decrease of the statutory corporate income tax rate The maximum statutory corporate income tax (”CIT”) rate will be progressively decreased from its current rate of 21% to 19% in 2017 and...

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29 Feb
Member News

Where Are They Now? Vacant Jersey City Office Sold

One of the positive stories from CMBS in January that we failed to note was the full payoff off the one-time $124 million 70 Hudson Street loan. (There were not many feel-good narratives in January.)  We wrote about this note back in early 2015 with concerns. The 409,272 square-foot, Jersey City office that backed the property was once 100% occupied by Lehman Brothers. After Lehman's demise, the lease was taken over by Barclays. The lease ended in January 2016...

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29 Feb
Member News

The Madison Square Garden Property Tax Saga

Today's Madison Square Garden (born 1968) is now the oldest arena in both the NBA and NHL, but it almost didn't make it to its twentieth birthday. In 1982, noting the flurry of sports teams then moving to New Jersey (the Devils had just joined the Giants and Nets in the swamplands, and the Jets would follow two years later), then-owners Gulf and Western threatened to have the Knicks and Rangers move across the Hudson if the city didn't...

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25 Feb
Member News

CPSC Will No Longer Require Flammability Certifications for Most Adult Wearing Apparel

On February 24, 2016, the Consumer Product Safety Commission (“CPSC”) announced changes to the certification requirements for adult wearing apparel that is exempt from flammability testing. Pursuant to the Consumer Product Safety Improvement Act, manufacturers of consumer products subject to a rule, standard or ban enforced by the CPSC are required to issue a general conformity certification (“GCC”).  The GCC must certify that the product is compliant based on a test of each product or a reasonable testing program.  However,...

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25 Feb
Member News

U.S. and International Private Equity Funds – Matching Networks To Needs

In Private Equity, leveraging a global network is critical in creating significant return on investment.   Performance improvement, identification of high profile as well as off-market acquisition targets, and taking advantage of any other number of creative and strategic ways to increase the overall value of portfolio companies through business development and identification of other opportunities can differentiate a simple “exit” from a “home run”. The Largest Funds Have A Built-In Network For the largest U.S. and internationally based private equity funds,...

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25 Feb
Member News

Global Employers Reexamine the Relevance of Study Abroad

GPS and AIFS Partner to Provide the Workforce with Global Skills EACC NY Member Global Professional Search Inc. (GPS) and the American Institute For Foreign Study (AIFS) are partnering to provide study abroad alumni from around the world with access to jobs with global employers that value not only their global mindset but also the regional and cultural expertise acquired. "Employers worldwide have increasingly adopted a more international business model. With clients, suppliers, manufacturers, and staff now in different countries, they...

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24 Feb
Member News, Uncategorized

New CPSC Requirements for Self-Balancing Scooters (Hover Boards)

In a recently published letter to “Manufacturers, Importers, and Retailers of Self-Balancing Scooters,” the Consumer Product Safety Commission (“CPSC”) urged the trade to make certain that self-balancing scooters (hover boards) comply with currently applicable voluntary safety standards, including all referenced standards and requirements contained in UL 2272 – Outline on Investigation for Electrical Systems for Self-Balancing Scooters.   In addition, the CPSC indicated that all lithium ion battery products must comply with test requirements under UN/DOT 38.3 Transport of Dangerous...

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24 Feb
Member News

E. Christopher Murray speaks at The Nassau Academy of Law CLE

Ruskin Moscou Faltischek, P.C. announced today, February 24, 2016, partner E. Christopher (Chris) Murray, member of the firm’s Litigation Department, and Chair of the Environmental and Land Use practice group, spoke at The Nassau Academy of Law’s recent CLE program. The program focused on guardianships, particularly guardianships for adults with developmental disabilities.  Nick Boba from the Center for Developmental Disabilities in Woodbury, was a part of the panel and addressed the need for guardianships for autistic adults, and the use of...

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23 Feb
Member News, Uncategorized

UK companies/LLPs – New requirement to publicly disclose beneficial ownership

What is this PSC register everyone's talking about? The register of people with significant control (the PSC register) is a register of individuals or legal entities that have significant control over UK companies and UK LLPs. It has been introduced under the Small Business, Enterprise and Employment Act 2015 with the purpose of identifying the ultimate beneficial owners and controllers and making their holdings public.  The new requirement is intended to increase corporate transparency with the aim of combatting money...

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