On January 16, 2014, the Office of the Comptroller of the Currency (OCC) released a proposal seeking comment on guidelines that would establish minimum standards of governance, risk management and board independence for certain large national banks, Federal savings associations, and Federal branches (collectively, “banks”). The guidelines are intended to become an integral part of the OCC’s safety and soundness regulations (12 CFR Part 30). The OCC would apply these guidelines to insured national banks, insured Federal savings associations, and...

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They've advanced because you've advanced At AlixPartners, we care about results because our clients care about results, and we reward our people for delivering exceptional value to clients. The following 11 professionals were recently promoted to Managing Director in our firm. They have advanced for many reasons—but primarily for their track records of guiding clients to soaring successes. We're very proud of these 11, and we also know that they're just getting started. To read about the impressive backgrounds of AlixPartners'...

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1. Two Phase II Merger Control Investigations In 2013, there were two Phase II merger control investigations, the first in-depth reviews since 2011, both of which involved trade buyers.  In April 2013, following a full investigation, the Competition Authority (the "Authority") unconditionally cleared Intersnack International B.V.’s acquisition of KP Snacks from United Biscuits (UK) Limited. The second Phase II case involved the acquisition by Uniphar plc. of Cahill May Roberts Limited, the Irish pharmaceutical distribution and wholesaling subsidiary of Celesio.  This was also...

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1. Unified Patent System In February 2013, 24 EU Member States, including Ireland, signed an international agreement relating to a pan-European patent system, including the creation of a Unitary Patent and a Unified Patent Court  ("UPC"). The UPC will have exclusive competence to deal with all disputes relating to infringement and revocation of European Patents and the new Unitary Patents. Member States can elect to either host a local division of the UPC, or join a regional division. The Irish Government...

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A report from The Real Deal on Tuesday indicated that New York's Chrysler East (a Tishman property) will be losing its second largest tenant. According to the piece, accounting firm Grant Thornton has inked a lease for 130,000 square feet at Aby Rosen's 757 Third. Grant Thornton occupies the 11th, 12th, and 13th floors at Chrysler East. That totals about 63,000 square feet, or approximately 8% of the space in the building. The lease ends in November 2014. The property backs $265 million of CMBS debt split...

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The Egg-Graben Bridge in the Grossarl Valley (Salzburg) was designed and planned at the Vienna University of Technology. FIB, the international umbrella organization for concrete construction, recently named the Egg-Graben Bridge as one of only two bridges worldwide to receive the “fib Award for Outstanding Structures”. The prize will be bestowed in 2014 at the fib conference to be held in Mumbai, India. The award is only given every four years. This time around Austria will be given the “Concrete...

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On 17 December 2013, the Irish Minister for Finance published the General Scheme of the Irish Collective Asset-management Vehicle (ICAV) Bill which will allow for a new corporate structure to be used within the Irish fund industry, sitting alongside the existing public limited company (“PLC”) structure. This new structure, which will provide a greater choice for fund sponsors, will be known as the Irish Collective Asset-management Vehicle or “ICAV”. Although subject to change during the legislative process, the General...

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According to fresh January remittance data, the $35.5 million Great Northern Mall loan is now with the special servicer. Great Northern Mall is a four building, 900,000 square-foot enclosed mall in Clay, New York, a suburb of Syracuse. Due to mature last month, the loan accounts for 18.8% of the collateral balance in BSCMS 2004-PWR3. Two of the four buildings, totaling 504,743 square feet, serve as collateral for the loan. Dick's Sporting Goods, Regal Cinemas, and The Shoe Department are listed as the top three...

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