09 Aug
Member News

Prominent Manhattan Skyscraper Refinanced

According to Friday's Commercial Mortgage Alert issue, real estate developer Sheldon Solow struck a deal with J.P. Morgan to refinance a $1.2 billion fixed-rate CMBS loan against the 1.7 million square-foot Solow Building. Solow is expected to use the new financing to pay down an existing CMBS mortgage on the iconic Manhattan skyscraper, the $625 million 9 West 57th Street note. The 5-year loan matures in February 2017. The new loan will have a 10-year term structure and a coupon rate...

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08 Aug
Member News

Can shipowners waive their right to limit their liability?

Every shipowner and marine insurer knows that shipowners are entitled to limit their liability for marine claims. In Bahamas Oil Refining Company International v Owners of The Cape Bari, a decision which has attracted considerable interest in the shipping industry, the Privy Council has held that parties to a contract are able to waive their right to limit their liability. Facts On 25 May 2012, the vessel Cape Bari collided with sea berth no. 10 at Freeport, Grand Bahama. The berth...

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08 Aug
Member News

Penalty for HSR Violations More Than Doubled

On, August 1, 2016, the maximum daily penalty for premerger notification violations under the Hart-Scott-Rodino Act (HSR Act) increases from $16,000 to $40,000. This 250 percent increase, which the Federal Trade Commission (FTC) announced at the end of June, is mandated by a statute requiring federal agencies to adjust civil penalties for inflation. Key Notes: Maximum fine for HSR violations increased from $16,000 to $40,000 per day. Increased penalties and enforcement could result in millions of dollars in fines. Harsher penalties generally reserved...

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08 Aug
Chapter News

New Report Shows Global Fiscal Transparency Lagging Behind US Standards

Developing countries are failing to meet fiscal transparency standards as established by the United States, according to a report released on July 28. The US State Department’s Fiscal Transparency Report—released annually since 2012—details which countries meet the State Department’s minimum fiscal transparency requirements, which countries are making progress towards it, and which countries are making no significant progress. In the 2016 report, sixty-four countries failed to meet the minimum standards. Of those, only eight showed significant progress. The report reveals the highest...

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05 Aug
Member News

Can the German economy continue to defy gravity?

The Germany-US trade corridor is firmly entrenched, with HSBC analysts expecting demand for German capital and goods to remain high in its primary North American market. Contrary to expectations, Germany is a commerce and industry bright spot in Europe. Labelled the Sick Man of Europe at the turn of the century, Germany defied its critics to emerge from the global recession and a series of euro crises as an economic superstar. The nation reversed its shrinking growth rate and high unemployment...

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05 Aug
Chapter News, Trade & TTIP Related

TTIP: Public report of the 14th round of negotiations

A detailed report of the 14th round of TTIP talks is now available. It sets out progress achieved, chapter by chapter. The 14th negotiating Round took place in Brussels from 11-15 July 2016. For logistical reasons, the talks on services and investment stretched into the following week. This Round saw a record number of textual exchanges, which means there are proposals for almost all chapters on the table now, totalling about 30. As in previous rounds, close to 400 stakeholders...

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05 Aug
Chapter News

E-government a powerful tool to implement global sustainability goals, UN survey finds

A new United Nations report has found that e-government is an effective tool for facilitating integrated policies and public service by promoting accountable and transparent institutions, such as through open data and participatory decision-making, and therefore it has the potential to help support the implementation of the 2030 Agenda for Sustainable Development and its 17 Sustainable Development Goals (SDGs). “For ICTs to truly transform the public sector into an instrument of sustainable development, efficiency in service delivery must be...

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05 Aug
Member News

BDO USA, LLP Announces South Florida Expansion Through Addition of Goldstein Schechter Koch

Chicago, IL – BDO USA, LLP, one of the nation’s leading accounting and consulting firms, today announced an expansion of its South Florida practice through the addition of just over 100 staff, including 14 partners, from Goldstein Schechter Koch (GSK).  Founded in 1949, GSK provides a full range of accounting, tax and wealth advisory services to a client base of public and private middle market businesses, nonprofits and high net worth individuals. The firm, which has offices in Coral Gables...

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04 Aug
Chapter News, Trade & TTIP Related

Will TTIP survive Brexit?

There are concerns that the UK’s decision to leave the EU may jeopardise future TTIP negotiations. Some fear Brexit could make the EU a less attractive trade partner for the US. However, it seems that the new US administration as well as upcoming elections in Germany and France could end up posing bigger threats to the trade agreement than Brexit. 23 June  2016 was a sad day in the history of the European Union. Nearly 52% of the British citizens who...

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04 Aug
New York Related News

Governor Cuomo Announces $16 Million Available for Community Clean Energy Projects

Municipalities Eligible to Apply for Funding and Technical Assistance to Implement Energy Efficiency, Renewable, and Sustainable Development Projects in their Communities Initiative Supports New York’s Recent Adoption of the Clean Energy Standard and its Aggressive Mandate to Achieve 50 Percent Renewables by 2030 Governor Andrew M. Cuomo today announced the launch of Clean Energy Communities, a $16 million initiative to help local governments across the state reduce energy consumption and drive clean energy use in their communities. The new initiative advances...

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