22 Oct
Chapter News, News

Setting Europe in Motion: President-elect Juncker’s Main Messages from his speech before the European Parliament

Jean-Claude Juncker | President-elect of the European Commission | Statement in the European Parliament plenary session ahead of the vote on the College | Strasbourg, 22 October 2014 Time for Action "From Ukraine to Syria, to the Middle East and North Africa, our neighbourhood remains shaky and unstable. Scores of immigrants arriving at Europe's external frontiers in search of a better future remind us of the need to reconcile the quest of solidarity with the demand for safe borders. And cross-border...

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22 Oct
Member News, News

Ogletree Deakins Tops Corporate Counsel Survey For Second Consecutive Year

ATLANTA – September 18, 2014 – Ogletree, Deakins, Nash, Smoak & Stewart, P.C. (Ogletree Deakins), one of the largest labor and employment law firms representing management, is pleased to announce that the firm received the most “mentions” of any firm in Corporate Counsel magazine’s “Who Represents America’s Biggest Companies 2014” survey. This is the second consecutive year that Ogletree Deakins has earned the top ranking in Corporate Counsel’s annual survey. In addition to its ranking as the top firm...

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22 Oct
Chapter News, News

European Parliament elects Juncker Commission

Today, the European Parliament gave its strong support to the new European Commission with 423 votes in favour, 209 against and 67 abstentions. The Juncker Commission can thus start its term of office on 1 November 2014. President-elect Jean-Claude Juncker said: "After a long democratic journey, today my team crossed the finishing line. I feel honoured that my Commission has received the democratic backing of the European Parliament. Now it is time to roll up our sleeves and get down to...

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21 Oct
Chapter News, News

Cracking the Glass Ceiling: Women on Corporate Boards in Europe

The average share of women on the boards of the largest publicly listed companies in the EU rose to 18.6 percent in April 2014, up from 17.8 percent just six months earlier, according to statistics released by the European Commission. Proposed EU legislation targets a 40 percent share of female non-executive members on the boards of listed companies. The proposal received strong support from the European Parliament in November 2013 and is currently under discussion by the Council of the...

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21 Oct
Chapter News, News

The EU at the G20 summit in Brisbane: Joint letter of Presidents Barroso and Van Rompuy

In a joint letter to Heads of State and Government of the European Union ahead of this week's European Council meeting, European Commission President Barroso and European Council President Van Rompuy inform about the key issues coming up for discussion at the G20 summit in Brisbane (Australia) on 15-16 November 2014: "Dear Colleagues, We would like to inform you about the key issues coming up for discussion at the G20 summit in Brisbane on 15-16 November. The Brisbane Summit will be the...

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20 Oct
Chapter News, News

CMBS Investors May Not Be in “Good Hands”

Long Island Mall Loan Facing Default Sent to Special Servicing Jericho Plaza (I & II), a $163.8 million loan that backs 8.7% of CSMC 2007-C5, is now with the special servicer for "imminent monetary default" according to a Fitch note circulated late Friday. The loan is backed by a pair of offices building in Jericho, New York on Long Island. Built in 1978, the buildings total 638,216 square feet. After posting a DSCR of 1.0x in 2013, the loan reported a DSCR of 0.75x in...

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20 Oct
Chapter News, News

Safeguarding your privacy: appointing Europe’s new data protection watchdog

Celebrities aren't the only ones who should care about their personal data being kept safe. The Parliament plays a key role in deciding who the European data protection supervisor should be for the next five years. The supervisor is in charge of protecting personal data and privacy as well as promoting good practice in the EU institutions and bodies. Today the EP's civil liberties committee will question the candidates from 19.00 to 22.30 CET, while the vote takes place...

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17 Oct
Member News, News

Further route network optimisation – focusing on airberlin’s strengths

• airberlin strengthens long-haul network • Tourism is a key pillar of the network strategy • New opportunities in Italy due to codeshare with Alitalia • New sunshine destinations from Austria and Switzerland • Cancellation of loss-making routes airberlin will continue to adapt its route network by focusing on increased efficiency and further reducing seasonal effects. This strategic focus on increased efficiency is accompanied by a focus on our core markets Germany, Austria and Switzerland. The network changes see an increase in flights on further routes, such as the...

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16 Oct
Member News, News

Stuyvesant Town Appraised Value Increased

Given the rocky nature of the markets on Wednesday, we thought we'd start TreppWire with a little chicken soup for the CMBS soul. The servicer for the $3 billion Stuyvesant Town/ Peter Cooper Village loan increased the appraised value of the property according to data received this week. Previously valued at $3.4 billion as of September 2013, the loan's appraisal was bumped up to $3.5 billion this month. As a result, the appraisal reduction assigned to the note was lowered. The lowest reported...

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15 Oct
Member News, News

Tax rulings and state aid – saving on tax may prove to be expensive

The European Commission has commenced investigations into so called 'tax rulings' issued by several Member States. These rulings include comfort letters issued by (national) tax authorities giving a specific company clarity on how its corporate tax will be calculated or on the use of special tax provisions applicable to their specific situation. In general, tax rulings may involve state aid within the meaning of EU rules if they are used to provide selective advantages to a specific company or...

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