Another block of assets that is up for auction in May and June started to flow through remittance this month, which sent volume and severity up after a lull in April. Liquidated loan volume reached $1.02 billion in May, up from $844.16 million in April. Of the loans that were liquidated, 84% (by balance) fell into the greater than 2% loss severity category. May loss severity registered 48.94%, up nine percentage points from April's 39.77% and just above the 12-month...

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The twelve international crews competing in the Clipper 2013-14 Round the World Yacht Race will arrive in Manhattan on June 4, following a brief muster in New Jersey, after completing more than three quarters of its eleven month, 40,000 mile global ocean odyssey. Established by legendary British sailor Sir Robin Knox-Johnston in 1995, the Clipper Race is uniquely designed for amateur sailors (only the skippers are professional), whose only required qualifications include a thirst for adventure and the desire to...

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By Richard Tretler, Chief Financial Officer/Treasurer, DS-Concept Factoring Over the past five years, the import/export sector expanded significantly. However, traditional financing tools available to small businesses in this arena continue to shrink, leaving behind a marketplace opportunity with enormous potential for import/export trade finance and factoring firms. Before I became the chief financial officer/treasurer of DS-Concept Factoring, I was the CFO for a New York City-based international importer/distributor of fashion and consumer goods. I come from “being in the trenches” with...

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Trepp, LLC, the leading provider of information, analytics, and technology to the CMBS, commercial real estate, and banking markets, today announced its acquisition of Commercial Real Estate Direct (CRE Direct), the subscription-based source for information and news on the real estate capital markets. “Trepp’s acquisition of CRE Direct was a logical step, as both our organizations focus on delivering valuable information to the commercial real estate and CMBS markets,” said Manus Clancy, Senior Managing Director at Trepp. “CRE Direct is...

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Common Sense Media, the leading independent and non-for-profit review site for parents and families, has given NUTRI VENTURES: THE QUEST FOR THE 7 KINGDOMS its highest possible rating, joining a growing list of mom blogs and parents themselves who have called NUTRI VENTURES one of the best entertainment options for kids. “Nutri Ventures takes the arguably mundane topic of food pyramids and plate ratios and embeds it in an engrossing adventure that will captivate kids,” Common Sense Media wrote in its five-star review. “Kids will have...

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2014 Verizon Report Offers Advice for Combatting Nine Common Threats to Cybersecurity Sharon R. Klein | kleins@pepperlaw.com Jeffrey L. Vagle | vaglej@pepperlaw.com The 2014 Verizon Data Breach Investigations Report (DBIR) was released on April 22, providing the deep empirical analysis of cybersecurity incidents we’ve come to expect from this annual report. The primary messages of this year’s DBIR are the targeting of Web applications, continued weaknesses in payment systems, and nine categories of attack patterns that cover almost all recorded incidents. Further, despite...

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Governor Cuomo opened the next round of funding opportunities across New York State for economic development projects. A total of $750 million is available for qualifying companies and organizations. Benefits range from capital grants, training grants, and green roof grants, to 10 years of State business income tax benefits for companies that are hiring and investing in New York. Deadline to submit is June 16, 2014. The New York Grant Company, a EACCNY member, has the highest success rate in New York...

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An article in Crain's New York Business on Friday stated that Tishman Speyer and Related Cos. are each trying to lure Deutsche Bank to forthcoming developments in Hudson Yards on Manhattan's West Side. If the bank chooses to pursue a deal with either firm, CMBS investors should take note of three 2007 deals that would be affected by a move. Deutsche Bank is the majority tenant at 60 Wall Street in lower Manhattan. The 1.6 million square-foot property backs $540 million of CMBS debt spread across three...

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According to a story on NorthJersey.com, the New Jersey Economic Development Authority accepted a grant to Sony Music to bring the company from Manhattan to Rutherford, New Jersey. Tucked away in the article is a note that if Sony takes the offer, it might also move its staff from a Lyndhurst, New Jersey location at the same time. Sony is currently the lead tenant at 210 Clay Avenue in Lyndhurst, where it occupies over 80% of the 121,203 square-foot office with a lease...

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We are delighted that EACCNY member Mason Hayes & Curran has been selected as 'Irish Law Firm of the Year' at the Chambers Europe Awards for Excellence 2014. The Chambers Europe Awards recognise outstanding law firms and legal professionals.  Awards are based on detailed research and client and peer feedback carried out for the Chambers Europe 2014 guide. Commenting on the award Declan Black, Managing Partner of Mason Hayes & Curran, said, “We are very pleased to have won the top award for Ireland from...

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