26 May
Chapter News

Promoting Green and Efficient Energy for Europe’s Regions

Brussels, 26 May 2015 -- Today, the European Commission is launching the European Smart specialisation platform on energy, which will support regions and Member States in using Cohesion Policy funding more effectively for promoting sustainable energy. The Platform will help regions to share their expertise on sustainable energy investments and especially on the deployment of innovative low-carbon technologies. By supporting the optimal use of Cohesion Policy funds for sustainable energy projects, the Platform will directly contribute to the European Energy...

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22 May
Chapter News

Tougher rules on money laundering to fight tax evasion and terrorist financing

The ultimate owners of companies will have to be listed in central registers in EU countries, open both to the authorities and to people with a "legitimate interest", such as investigative journalists, under new rules already agreed with the Council and endorsed by Parliament on Wednesday. The new anti-money laundering directive aims to step up the fight against tax crimes and terrorist financing. New rules to make it easier to trace transfers of funds were also approved. The fourth anti-money...

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21 May
Member News

TREPP LLC Trading Alert: Wall Street Property Behind Previously Modified Loan Sold

According to a story by Lois Weiss of the New York Post, 100 Wall Street has been sold for $275 million, or $528 per square foot, to Cornerstone Real Estate Advisors. The property backs a $115.8 million loan that makes up 6.3% of LBUBS 2007-C6. For CMBS investors, the takeaways are that the credit enhancement for the deal will improve and that the loan can prepay freely now, 13 months before its June 2016 maturity date. The article states that the deal will close this summer. The A-4 bond will be...

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21 May
Member News, News

“Minibonds”: New Perspectives For Financing The SMES (Small And Medium Enterprises)

For various reasons, relating to the typical Italian SMEs nature and to the market structure, the financial requirements of Italian SMEs have traditionally been satisfied by bank financing. Law decree No. 83 of 2012 (“Development Decree”) marks an attempt to provide an alternative source of financing for SMEs, through recourse to the debt capital market. The Decree has expanded the opportunities to resort to capital market for Italian privately held companies, taking away restrictions set forth by corporate law...

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21 May
Member News, News

Keeping the App Store ‘Appy! Avoiding the Pitfalls of App Compliance, Part 2

Last week, we looked at the requirements for apps submitted to the Apple App Store. In this week’s post, we review the licence agreement and the various legal obligations placed on app developers. These obligations also create potential pitfalls in the development and publication of apps, including around the app terms, the app’s use of location services and general compliance with local laws. Requirements in the license agreement Aside from the Apple review guidelines, app developers are also subject to legal...

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20 May
Member News, News

DS-Concept USA Appoints Bryan Maloney as West Coast Business Development

  NEW YORK, NY- DS-Concept USA, a leading provider of international trade finance to the small and mid-market, has appointed Bryan Maloney to oversee business development activities in the western region of the US. As the Vice President of Business Development for DS-Concept USA, Bryan is based in Los Angeles and specializes in structuring supply chain finance and factoring programs for small and middle market companies globally. Read more DS-Concept Pakistan Announces $50 Million in Recent Transactions Karachi, Pakistan- DS-Concept Pakistan has announced $50 million inclosed...

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19 May
Chapter News, News

Statement by the EU Commission following the EIB’s decision of the next projects to be pre-financed as part of the Investment Plan for Europe

Brussels, 19 May 2015 Today the European Investment Bank (EIB) announced that it has approved financing for four investment projects as part of the Investment Plan for Europe, in which it is the Commission's strategic partner. These projects are in energy efficiency investment to reduce heating bills of private homes in France; new renewable energy and related transmission links in links in northern and western Europe; reduction of industrial energy use in Finland; and improvement to gas transmission in Spain. Today's decision follows the EIB's...

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19 May
Chapter News, News

Better Regulation Agenda: Enhancing transparency and scrutiny for better EU law-making

Today, 19 May, The European Commission adopts its Better Regulation Agenda. This comprehensive package of reforms covering the entire policy cycle will boost openness and transparency in the EU decision-making process, improve the quality of new laws through better impact assessments of draft legislation and amendments, and promote constant and consistent review of existing EU laws, so that EU policies achieve their objectives in the most effective and efficient way. First Vice-President Frans Timmermans said: "This Commission is determined to change both what...

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18 May
Chapter News

Yves Mersch, Member of the Executive Board of the ECB speech at Swedbank Economic Seminar

Stockholm, 18 May 2015 Ladies and gentlemen, There is an old saying that “with money, Latin and a good horse, you can get through all Europe”. These days a good command of Latin does not help you much outside of the Vatican City. Most of us prefer to travel by plane or train. But at least in the 19 countries of the euro area, the money a citizen holds in his or her pocket crosses all national borders. This only remains the...

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18 May
Member News

Greenwich Office Loan Heads to Special Servicing

According to May remittance data received late last week, the $38.95 million The Mill loan was sent to special servicing. The loan is backed by a 111,393 square-foot office in Greenwich, Connecticut. The note makes up 1.2% of the collateral behind JPMCC 2007-LD11. When the loan was securitized in 2007, the office property was 100% occupied. As of 2013, it was 91% occupied. However, the occupancy rate fell to 70% in 2014, and the DSCR dropped with it. The DSCR was 1.09x in 2013, but that...

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