On July 13, 2016, the Frankfurt Higher Labor Court held the dismissal of an employee in response to demands by the New York State Department of Financial Services (NYDFS) was invalid. (Frankfurt Labor Court, 18 Sa 1498/15). This holding demonstrates that obligations imposed by agreements with U.S. supervisory authorities do not supersede German employment dismissal law. In this case, a Commerzbank employee in Germany challenged his dismissal, which was made following demands by the NYDFS, a financial supervisory authority. The...

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According to July remittance data, the value of the property that backs the $40.3 million 4 Becker Farm Road note has been revised down to $31.5 million. The loan, now past its May 2016 maturity date, makes up 7.57% of the colllateral behind WBCMT 2006-C26. At the moment, the loan is not carrying an appraisal reduction. Located in Roseland, New Jersey, the 281,762 square-foot suburban office was previously appraised for $53.8 million at securitization in 2006. Earlier this year, the borrower requested...

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After a brief timeout on Thursday, US stocks resumed their winning ways on Friday. The Dow gained 54 points (0.29%) while the S&P 500 and Nasdaq added 0.46% and 0.52%, respectively. The 10-year Treasury yield was unchanged, ending at 1.57%. CMBS cash trading was quiet on Friday as less than $100 million was out for bid. Cash spreads continued to grind tighter and outpaced CMBX as it did for the majority of last week. For new issue, AAA cash paper, spreads narrowed...

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European companies invest large sums in developing and launching their products in the US, but lack the same investment in developing and launching their managers and leaders. Epic stories of wanting to conquer the US have been told by generations. The variables for how to be successful in the US cannot be easily distilled. Many adventures have turned into huge successes and others became very public failures. We are interested in understanding the leadership challenges and opportunities Danish companies face in...

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The Deal, a business unit of TheStreet (NASDAQ:TST), today released a digital handbook titled, "Corporate Governance In the Era of Activism," which defines a first-ever code of conduct for institutions and their boards on how to expand shareholder value before, during and after approaches by disgruntled activist shareholders. According to FactSet, in the first five months of 2016 alone, activist investors launched 72 full-blown proxy contests to elect directors at targeted companies, and from 2009-2015, over 40 percent of companies in...

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