According to this morning's Commercial Mortgage Alert, the CMBS loan backed by the 1.7 million square-foot Chicago office at 131 South Dearborn (also known as the Citadel Center) has been modified. The piece notes that Angelo, Gordon & Co. and Hines have recapitalized the property with a pledge of $50 million of new equity. The $472 million in CMBS debt has been modified as well. The new terms split the loan into a $400 million senior note and a $72...

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The New York office of the Dutch law firm Houthoff Buruma offers clients and colleagues in the US selected news items about relevant legal developments in the Netherlands, the European Union and the Dutch Caribbean. Please email managing partner Helena Sprenger if you have any questions. The EU-U.S. Privacy Shield officially adopted On July 12, 2016 the EU-U.S. Privacy Shield was adopted by the European Commission, providing a new framework and legal basis for EU-U.S. personal data transfers. U.S. companies will be...

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Recently a set of BEPS related draft legislation/guidance has been published: (i) On 21 June 2016, the Council of the European Union (“EU”) agreed on the draft Anti-Tax Avoidance Directive (“ATAD”); (ii) On 22 June 2016 a bill of law regarding the adoption of a Protocol amending the US/Luxembourg double tax treaty (“Protocol”) was filed with the Luxembourg Parliament; and (iii) On 29 June 2016, the OECD released new guidance on the implementation of the Country-by-Country (“CbC”) Reporting. For your convenience, we have summarised hereafter the...

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On July 1st, Stout Risius Ross proudly celebrates its 25th anniversary . Many things have changed over the past 25 years. One thing that has not changed is our focus on providing our clients with the insight and advice they need to help make good decisions. From our earliest days, we have been guided by underlying values and the highest standards that have stood the test of time. We are proud to have grown from our humble beginnings to one...

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Finland has opened a new Honorary Consulate in Charlotte, NC, which is the largest business, financial and transportation hubs in North and South Carolina. The jurisdiction of the new Honorary Consulate covers both North and South Carolina. The new Honorary Consul in Charlotte is Todd Wiebusch, a business executive who has lived in Charlotte over 20 years and who has a long business and personal history with Finland. New Honorary Consul Todd Wiebusch has actively promoted Finnish culture and business...

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