Trepp, LLC in the past has written about the various comings and goings on Manhattan's Sixth Avenue (also known as Avenue of the Americas) a number of times. Several more large lease changes were reported over the last few days. None of the leases touch CMBS in a material way, but they do show how much current movement there is in that neck of the woods. On Tuesday, Steve Cuozzo of the New York Post noted that law firm White and Case was...

On April 1, 2014, the final regulations implementing the “Volcker Rule”1 became effective. The regulations were jointly adopted on December 10, 2013 by the Board of Governors of the Federal Reserve System (FRB), the Office of the Comptroller of the Currency (OCC), the Federal Deposit Insurance Corporation (FDIC), the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). The regulations, among other things, prohibit banking entities and nonbank financial companies from engaging in proprietary trading and...

By now, federal contractors should have taken a hard look at their current Affirmative Action Plan (AAP) policies, procedures and documentation to ensure compliance with the new requirements. Under the Office of Federal Contract Compliance Programs’ (OFCCP) Final Rule, effective March 27, 2014, contractors are required to gather data and set hiring goals for individuals with disabilities and protected veterans. Some of the other rules, however, will not become effective until contractors update their annual AAP. To be confident...

Coinciding with the announcement of funds availability to small and medium-sized foreign enterprises for use in developing compliance programs, GRANITO launches a new project called "Soft Compliance" addressed to SMEs that seek to expand their operations cross border, but who have not yet adopted compliance programs and organizational and control models such as larger companies may be required to have under, for example, the U.S. Foreign Corrupt Practices Act or, at the EU level, under the U.K. Bribery act, or by the Italian Legislative Decree no. 231/2001. When not required by...

According to a special notice received on 2/Apr/2014, the appraisal value for the Tishman German Office Portfolio loan was decreased by €89.40 million. The loan is the largest in EURO 28 with a current balance of €244.97 million. The loan, which is backed by office properties in Germany, is expected to mature on 7/Feb/2015. The loan's initial securitised balance was €378.96 million. The loan was valued at €599.20 million at origination, and its most recent valuation was €273.80 million as of 1/Nov/2009. Based on...

DS-Concept, a German-Based Import/Export Trade Credit Firm Established Fourteen Years Ago, Has Announced Several Recently Closed Transactions With Customers All Over the World • Four European textile retailers from the Netherlands, Germany and the UK will be using a DS-Concept Factoring trade financing facility to fund their imports mainly from Turkey, South Asia and China. DS-Concept has provided each of these companies with a facility line of up to 4 million Euro and will be opening letters of credit on...

As part of the EU research project KHRESMOI, a team of experts from the University Department of Radiology and Nuclear Medicine at the MedUni Vienna is building up a search engine that will enable radiologists to retrieve precedence cases within seconds and thus compare the results with their current finding. It will give radiologists the ability to very quickly access a database of images and at the same time look at literature on specialist problems in radiology. The project brings...