12 Jan
Member News, Uncategorized

Long Island Office Loan Receives Appraisal Reduction Increase

According to January remittance data, the $43.8 million One Old Country Road loan recently received an appraisal reduction increase from $23.3 million to $43.3 million. Comprising 25.37% of BACM 2005-6, the note is scheduled to mature next month. One Old Country Road is backed by a 320,408 square-foot suburban office in Carle Place, NY which was foreclosed on July 2011. The loan was transferred to special servicing in November 2010 for imminent default after the borrower was 60+ days late on...

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08 Dec
Chapter News, Uncategorized

Antitrust: Commission opens formal investigation in the biofuels sector concerning ethanol benchmarks

The European Commission has opened a formal antitrust investigation to scrutinise whether three ethanol producers have, in breach of EU antitrust rules, manipulated ethanol benchmarks published by a price reporting agency. The companies concerned are Abengoa S.A. of Spain, Alcogroup SA of Belgium and Lantmännen ek för of Sweden, together with their relevant subsidiaries. They produce, distribute and trade ethanol. Commissioner Margrethe Vestager, in charge of competition policy, stated:"Competitive biofuels markets are crucial to promote cleaner transport and to cut greenhouse...

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08 Oct
Member News, Uncategorized

Littler Global Enters Europe with Expansion Into Germany

Germany’s Leading Labor and Employment Firm, Vangard, Joins Littler’s Global Platform Littler, the world’s largest employment and labor law practice representing management, has added Vangard, a leading labor and employment law boutique in Germany, to its global platform. The combination closely follows the opening of Littler’s first Canadian office in Toronto in August and marks the first entry into Europe for Littler Global, which has expanded rapidly in recent years through a strategy that includes combining with leading firms in...

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29 Sep
Chapter News, Uncategorized

Get ready for the European cybersecurity month and find out ways to use internet in a safer way

The European cybersecurity month, the EU's campaign to promote cybersecurity, is launched today in Brussels. More than 100 events and activities in 25 countries are organised to provide users with advice and to share good practices. Vice-President Ansip, in charge of the Digital Single Market, said: "Trust and security are key components of the Digital Single Market. We cannot get the best out of the opportunities offered by digital tools and online networks if we do not trust them. Raising awareness of the...

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23 Sep
Uncategorized

President’s introductory remarks at the regular ECON hearing

Introductory statement by Mario Draghi, President of the ECB, Brussels, 23 September 2015 Mr Chairman, Honourable Members of the Economic and Monetary Affairs Committee, Ladies and gentlemen, During the summer break, our Union faced exceptional challenges. First, there was the long and complicated discussion on the new adjustment programme for Greece. And now, in an area very much outside the ECB’s competence, there is the challenge of harbouring a large number of refugees that had to leave their homes behind. Both these events –...

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20 Aug
Member News, Uncategorized

Ogletree Deakins Named Immigration Lawfirm of the Year

ATLANTA – August 18, 2015 – 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 has been named the Immigration Law Firm of the Year - USA by the Lawyer Monthly Legal Awards 2015. The Lawyer Monthly Legal Awards recognize the achievements of law firms and individuals who have delivered exceptional results for their clients over the past 12 months – whilst...

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30 Jul
Member News, Uncategorized

ESMA Issues Opinion on European Passport Extension

Further to recent briefings, ESMA has today published its advice in relation to the application of the Passport to non-EU AIFMs and AIFs (“Advice”) together with its opinion on the functioning of the passport for EU AIFMs and the national private placement regimes (“NPPRs”) (“Opinion”). The Advice and Opinion, required under AIFMD, will now be considered by the European Commission, Parliament and Council. Regarding the advice on the potential extension of the passport, ESMA opted for a country-by-country assessment to...

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05 Mar
Member News, News, Uncategorized

EACCNY MEMBER INSIGHTS: E&Y on Global Hospitality: Top Thoughts for 2015

The global hospitality industry entered 2014 on an upward growth trajectory; a greater sense of optimism was palpable across most regions, as accelerating capital markets, favorable supply and demand balances, and strong investor appetites fueled higher transaction volumes and strengthened lodging fundamentals. Robust investor interest worldwide was reflected in the year’s key industry trends: •  More lodging projects broke ground as traditional lenders eased restrictions on construction loan originations. •  Accelerating cross-border capital flows intensified competition among domestic and international investor groups...

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20 Feb
Member News, News, Uncategorized

Updates on Mutual Reliance Between the US FDA and the EU on GMP Inspections

This article is courtesy of Anthia Zammit Legal, a member of the EACCNY. At present date, there is no Mutual Recognition Agreement (MRA) in relation to: •  conformity assessment of regulated products, and •  Good Manufacturing Practice (GMP) for human and veterinary medicinal products in operation between the EU and the US. On November 14th and 17th 2014, representatives of the US FDA met with a cross-agency team from the European Medicines Agency (EMA), the European Commission, and Good Manufacturing Practice (GMP) experts from...

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20 Jan
Chapter News, News, Uncategorized

EU Investment Offensive: Commission and EIB Launch New Advisory Service on Financial Instruments

Brussels, 19 January 2015 On 19 January, the European Commission, in partnership with the European Investment Bank (EIB), is launching fi-compass, a new advisory service on financial instruments for the European Structural and Investment Funds. This service is part of the "one stop shop" advisory hub, to be launched as an important part of the EU Investment Plan. The work to deliver the Investment Plan is moving fast. Just 50 days after President Juncker announced plans for an EU investment offensive, and the...

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