Appellate Division holds that Town may be third-party beneficiary of a provision limiting the generator’s right to appeal property tax assessments in a supply agreement between an energy generating company and a power authority. In June 1997, Long Island Lighting Company entered into a “Power Supply Agreement” with Long Island Power Authority, whereby the Company agreed to sell and deliver to the Authority energy produced from its power generating facilities in Nassau and Suffolk Counties, including certain facilities located in...

In case you missed it, EACCNY Member TREPP, LLC put out a research piece yesterday via email that discussed the dollar volume of loans from the 2005 to 2007 vintages that do not currently have the DSCR, LTV or debt yield needed to secure CMBS refinancing. If you would like to access it, you can click the link to the right. The dovish comments from the Fed had a lingering beneficial effect on the markets yesterday as US stocks rallied...

Manufacturing’s pivot East in recent decades has opened up new opportunities for DS-Concept across the globe, but more recently we have registered demand to open up an office in Los Angeles to allow domestic clients to expand overseas and for foreign businesses to operate with ease in the US. The manufacturing industry’s rapid growth in California has been one of the main drivers of the state’s growth, with $149.79bn in manufactured goods exported in 2014, more than 11% of the...

Daniel Glazer of Fried Frank LLP, weighs in on Stripe’s Atlas program and the considerations European startup founders need to make before deciding to tackle the US market. Many emerging companies considering expanding to the US have asked us about Stripe Atlas, Stripe’s new offering that cost-effectively combines Delaware incorporation, a taxpayer identification number (EIN), a Silicon Valley Bank account and integration with the Stripe payments network. The concept is clever: the eased access it provides to a US bank account and to Stripe is welcome,...

Following the decision of the Court of Justice of the European Union (“CJEU”) in Schrems v Data Protection Commissioner and the subsequent statement of the Article 29 Working Party, transfers of personal data from the European Union (“E.U.”) to the United States (“U.S.”) under the Safe Harbor scheme are regarded as potentially unlawful. The European Commission has recently published a draft adequacy decision and detailed provisions for a proposed new data protection framework for the transfer of personal data known...

AlixPartners is pleased to invite you to participate in our 2016 Global Anti-Money Laundering and Sanctions Compliance Survey. Changing regulatory standards and more stringent expectations regarding anti-money laundering and sanctions compliance have shaped a decade of global adjustments for financial institutions. This survey is focused on understanding how financial institutions are dealing with this shifting environment, particularly in light of budgetary constraints. We value your views and appreciate your willingness to take a few minutes to fill out this survey. This...

The allocation of risk in the design of contracts for mergers and acquisitions continues to favour sellers in Europe. The selling side is in a much stronger negotiating position – that is the conclusion of the eighth CMS European M&A Study. Last year, sellers were more often able to incorporate lower liability caps and shorter warranty periods into agreements, in addition to negotiating other advantageous risk allocation arrangements. "The ongoing terrorist threat, interest rate rises in the US, the...

In this short video, Pepper partner Howard S. Goldberg shares his thoughts on inversions - why undertake an inversion and the tax law addressing inversion transactions. • Howard S. Goldberg, Partner | goldberghpepperlaw.com | 215 981-4955 © 2016 Pepper Hamilton LLP - a member of the EACCNY