Ms. Fleur Pellerin, Minister Delegate for SMEs, Innovation and the Digital Economy, used an evening to celebrate the coming year with the French digital economy ecosystem to launch a call for proposals for “accredited digital cities”. This marks the first stage of the “La French Tech” initiative launched on December 2, 2013, backed by €200 million from the French government’s “National Investment Program”. During her speech to nearly 500 participants, Ms. Pellerin reminded the audience of the broad strategic outlines of...

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Cross-fertilizing its deep involvement in cross-border copyright regulations with its corporate advisory services, GRANITO announces its involvement in assisting clients in the management and protection of international video rights cross continents and within countries.  Faced with the need to protect and secure rights in a global entertainment marketplace and the right of producers, publishers and broadcasters of video and music to monitor the uploading of clips belonging to them, GRANITO brings to the forefront their talents for combining compliance with...

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When commenting on 2012 performance last year, we noted that investors could really only have one complaint: why didn't we own more? For investors to make money in 2013, they had to be more discriminating. While there were plenty of segments of the market that did well, there were also other segments that lagged severely. Some of the many issues that investors had to deal with in 2013 were: • The impending end (or tapering) of QE3 • Rising interest rates (after...

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The RTS clarify that an OTC derivative contract shall be considered as having a direct, substantial and foreseeable effect within the Union when “at least one third country counterparty benefits from a guarantee(i) provided by a financial counterparty(ii)  established in the Union which covers all or part of its liability resulting from that OTC derivative contract” to the extent that both of the following conditions are met by the guarantee: (a)    It covers the entire liability of a third country counterparty resulting...

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Normally we don't start taking a hard look at big CMBS leases until they get within a year of the lease expiration date. However this particular story caught our eye when we were looking at servicer watchlist notes for January. The loan is the $72.6 million Healthnet Headquarters note. The property is a 327,000 square foot office in Shelton, CT. Built in 1982 and renovated in 1989, the property was the home of Health Net of the Northeast. The firm is still...

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According to January servicer data, the $47.9 million Novo Nordisk Headquarters took a $24.3 million appraisal reduction amount. The loan backs 5.4% of CGCMT 2005-C3, a deal that has taken 3.2% in cumulative bond loss. Back in September 2013 we wrote about the eponymous tenant's planned departure from the property. Novo Nordisk, which currently occupies 77% of space, will be vacating upon lease expiration in December of this year. Despite solid financial performance (1.75x DSCR in the first half of 2013), the loan...

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Goldberg Segalla is pleased to announce it expanded its U.S. footprint into Chicago with the opening of its 12th office, launched by a team of prominent Chicago attorneys that includes David J. O’Connell, James W. Ozog, James M. Rozak, Brian J. Benoit, Ryan M. Frierott, and Jennifer L. Rediehs. Additional growth and new faces are anticipated in the coming months, and all of Goldberg Segalla’s diverse range of practice areas will expand into the Chicago office. The opening of Goldberg Segalla’s Chicago office highlights the dynamic organic...

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New York Grant Company CEO, Ann Kayman, was recently admitted into the Entrepreneurs Organization, a global business network of 9,500+ business owners in over 40 countries. Entrepreneurs Organization connects and engages their community of expert entrepreneurs to learn and grow. In joining EO, Ann is delighted to work with a peer group of like-minded individuals, and to impart the entrepreneurial know-how for the benefit of clients, staff and the business community. "I can't wait to roll up my sleeves...

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On January 16, 2014, the Office of the Comptroller of the Currency (OCC) released a proposal seeking comment on guidelines that would establish minimum standards of governance, risk management and board independence for certain large national banks, Federal savings associations, and Federal branches (collectively, “banks”). The guidelines are intended to become an integral part of the OCC’s safety and soundness regulations (12 CFR Part 30). The OCC would apply these guidelines to insured national banks, insured Federal savings associations, and...

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They've advanced because you've advanced At AlixPartners, we care about results because our clients care about results, and we reward our people for delivering exceptional value to clients. The following 11 professionals were recently promoted to Managing Director in our firm. They have advanced for many reasons—but primarily for their track records of guiding clients to soaring successes. We're very proud of these 11, and we also know that they're just getting started. To read about the impressive backgrounds of AlixPartners'...

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