The federal government on Wednesday asked the U.S. Supreme Court to hear a challenge to a hedge fund's bid to enforce subpoenas seeking information on Argentina's non-U.S. assets in order to collect on $1.5 billion in defaulted bonds, saying such discovery tramples on foreign states' sovereign immunity.
Though regulators are set to unveil the long-awaited Volcker Rule on Tuesday, banks will still have to brace for additional confusion over the ban on proprietary trading as industry groups gear up for an all but certain court challenge to the regulation.
Private equity firm Nautic Partners LLC has acquired mental health-focused pharmacy QoL meds LLC, partnering with QoL's management to close the deal, the companies announced Friday.
Hotel builder Rida Development Corp. and private equity firm Ares Management LLC have struck deals securing the financing for a $335 million convention center hotel project in Houston and nailed down Marriott International Inc. as the manager, the companies announced Thursday.
Activist investor Cevian Capital AB told ThyssenKrupp AG it wants representation on the German conglomerate's supervisory board after lifting its stake to nearly 11 percent, according to a Friday securities filing.
Private equity-backed DTLR Holding Inc., a street-inspired footwear, apparel and accessories retailer, plans to withdraw its $75 million initial public offering because of an undisclosed business development, the company announced Friday.
The Texas Supreme Court on Friday shot down a German private equity firm’s effort to revive litigation over a $780 million fee the firm said it was owed for work on AT&T Inc.’s failed bid to buy T-Mobile USA Inc.
Italian utility Enel SpA on Friday said it has agreed to sell a 14.8 percent stake in its natural gas distribution unit to private equity firm Ardian and Milan-based investment fund F2i SGR SpA in a deal valued at €122.4 million ($167.6 million).
A woman is who is working part-time as a lawyer at a law firm and is also the primary parent is an incredibly hard-working person. She’s working two jobs — and that’s a work ethic you want for your employee base, says Margaret Andrews Davenport, co-chairwoman of Debevoise & Plimpton LLP's corporate department.
Sears Holding Corp. will cut ties with its Lands’ End Inc. business through a share distribution of the brand’s common stock to Sears’ investors, as the company continues to refocus on its namesake stores and those operating under the Kmart banner, according to a Friday statement.
Chevron is again pushing back development plans for a $6.4 billion gas venture it shares with PetroChina, while a federal official warns a prospective Comcast-Time Warner merger would be hard-pressed to clear a regulatory review.
Lloyds Banking Group PLC said Friday that it has unloaded a portfolio of nonperforming Irish retail mortgages in a £257 million ($420.4 million) sale to an affiliate of New York private equity firm Apollo Global Management LLC, another step in its sprawling divestment plan.
AIG Property Casualty Inc. urged a Delaware bankruptcy judge to reject Hospitality Staffing Solutions Group LLC's proposed $22.9 million sale to a private equity firm, claiming Thursday that the deal would unfairly benefit the buyer to the detriment of unsecured creditors.
A Minnesota federal judge on Thursday rejected Thomas J. Petters’ “last-ditch attempt” to escape punishment after being convicted of running a $3.7 billion Ponzi scheme and using the ill-gotten profits to buy Polaroid Corp. and other companies, calling the appeal his “final con.”
The British government is furthering its crackdown on popular tax loopholes used by hedge fund managers and will push forward proposals that will prevent such funds from using limited liability partnerships to obtain lower tax rates, it said Thursday.
A Delaware bankruptcy judge on Thursday blessed the $40 million sale of private equity-owned Edwin Watts Golf Shops LLC to a joint venture composed of an industry competitor and a liquidator, the same twosome that bowed out as a stalking horse bidder two weeks earlier.
LightSquared Inc. on Wednesday urged a New York federal judge not to toss its adversary suit claiming Dish Network Corp. and its chairman, Charlie Ergen, illegally bought more than $1 billion in bankrupt LightSquared's debt, arguing it has provided ample evidence Ergen wasn't acting for his benefit alone.
Private equity firm Coller Capital didn't do enough to make sure it smoothed the sale of three technology patent portfolios, the attorney for a buyer who said it lost $300 million because of the failed deal told a New York state appeals court panel Thursday.
A small group of highly capitalized institutional investors will account for 84 percent of all institutional real estate investment in the near future, according to Preqin Ltd.'s latest data, tightening competition for the best properties and edging out newer, smaller fund managers.
America Movil could face forced asset sales based on findings from Mexico's telecom watchdog, while Kyle Bass' Hayman Capital unloaded the hedge fund's remaining stake in J.C. Penney.
While capital call facilities for true open-end funds have been relatively rare, the opportunity is ripe for new market entrants. A traditional facility would not be feasible for an open-end fund, but a few structural tweaks should do the trick, say attorneys with Mayer Brown LLP.
Because Latin American countries differ substantially from one another, there is no effective one-size-fits-all approach to anti-corruption compliance in the region. That said, companies doing business in the region should be aware of a number of recurring compliance concerns that may lead to an increased risk of violating the FCPA or other applicable anti-bribery laws, say attorneys with Debevoise & Plimpton LLP.
Even if the European economic recovery remains constrained, the global real asset rotation and navigation of the commercial real estate debt gap should continue to propel real estate investment up the risk curve in 2014. The growing participation of larger institutional players also signals larger deals in core markets, says Eric Rosedale, co-chairman of Dentons real estate group in Europe.
A new law in Mongolia dramatically alters the investment landscape in the country, eliminating the broad restrictions on private foreign investment in the minerals, communication and financial sectors that previously existed, removing the parliament from the approval process, and ending the distinction between foreign and domestic investors, says Stewart Diana of DLA Piper LLP.
The U.S. Securities and Exchange Commission recently announced sanctions against six investment advisory firms that, taken as a whole, highlight two continued areas of focus for the SEC: compliance program deficiencies and violations of the “custody rule," say Hoyt Stastney and Peter Kaiser of Quarles & Brady LLP.
While the Delaware Chancery Court’s approach to Orchard Enterprises Inc. was limited to the facts of the case, there are at least two other options that can be considered in valuing preferred stock. In particular, the option pricing methodology has become a well-recognized approach to allocate enterprise value among security holders, say Louisa Galbo and Jaime d'Almeida of Duff & Phelps Corp.
Picture this: A seller of goods is losing tens of millions of dollars per year on a requirements contract containing price caps that the parties have operated under for years. Given the Uniform Commercial Code and relevant case law, it would be natural — and completely logical — to accept the cogent authority establishing that rising costs are generally insufficient to invalidate a contract. I am betting that, in this case, the law will trick you, says Andrew Jarzyna of Ulmer & Berne LLP.
The principles behind the passive activity loss limitations rules under Section 469 of the Internal Revenue Code and the net investment income Medicare tax under Section 1411 are similar. Congress could have merely made the existing rules apply to the new tax, but instead they added more complication and possible holes, say Chester Grudzinski and Jacob Birnbaum of Kelly Hart & Hallman LLP.
Along with significant growth in medical practices geared toward chronic pain management over the last several years comes increased illegal conduct and the development of pill mills. Investors looking toward a portfolio that includes a practice with its own lab should take certain steps to minimize their risk of exposure to improper conduct, say attorneys with McGuireWoods LLP.
Nontraditional startups and small businesses have successfully used non-equity crowdfunding sites like Kickstarter, Indiegogo and RocketHub, and can be expected to expand into full crowdfunding under newly proposed rules from the U.S. Securities and Exchange Commission. In fact, companies could run two $1 million crowdfunding transactions concurrently, say Spencer Feldman and Nik Talreja of Olshan Frome Wolosky LLP.