Asset Management

  • January 14, 2015

    Market Rumors: China Huarong, Etsy, KKR

    China Huarong Asset Management is eyeing a $2 billion IPO in Hong Kong, while online marketplace Etsy could raise about $300 million in a U.S. IPO as soon as this quarter.

  • January 14, 2015

    Legal Services Would Be Taxed Under Calif. Sen. Proposal

    A newly elected California state lawmaker who also is of counsel at Glaser Weil Fink Howard Avchen & Shapiro LLP has proposed legislation that would broaden the Golden State’s sales tax base to include legal services, lower personal and corporate income taxes, and raise the minimum wage.

  • January 14, 2015

    Paul Hastings, Ashurst Guide Starwood's $313M London Deal

    Paul Hastings LLP represented private equity firm Starwood Capital Group in its purchase, announced by Starwood on Wednesday, of four hotels and a residential property in London for £206 million ($313.7 million) from a holding company of property developer Graham Harris, which had counsel from Ashurst LLP.

  • January 14, 2015

    Clearford Water Nabs $100M Funding For Ontario System

    Clearford Water Systems Inc. said Wednesday that it has inked a $100 million funding agreement with Swiss asset management firm Signina Capital AG that paves the way for Clearford to launch its proprietary wastewater collection and treatment system through public-private partnerships with Ontario, Canada, municipalities.

  • January 14, 2015

    Top EU Court Adviser Says Central Bank Can Make Bond Buys

    An adviser to the European Union's top court said Wednesday that the European Central Bank has the authority to engage in an aggressive sovereign bond-buying program aimed at boosting troubled eurozone economies.

  • January 14, 2015

    BGC Hikes Up GFI Offer To $714M As Vote On Rival Bid Looms

    BGC Partners Inc. on Wednesday raised its hostile offer for fellow interdealer broker GFI Group Inc. again, this time to $714 million, intensifying its effort to thwart a competing bid from CME Group Inc. set for a shareholder vote later this month.

  • January 14, 2015

    Split SEC Approves Swaps Data Reporting Rules

    A divided U.S. Securities and Exchange Commission on Wednesday finalized a host of regulations to set up the public reporting of security-based swap transactions, more than four years after the rules required under the Dodd-Frank Act were initially proposed.

  • January 14, 2015

    Caesars Unit Preps Imminent Illinois Ch. 11 After Court OK

    A Delaware bankruptcy court on Wednesday gave Caesars Entertainment Operating Co. Inc. a clear path to file for Chapter 11 protection on Thursday in Illinois, after the gaming unit blasted junior creditors' attempts to block the filing and force CEOC's bankruptcy case to play out in Delaware.

  • January 14, 2015

    Minority Powerbrokers Q&A: Sacks Glazier's Terrence Franklin

    I’m sure I would have eventually made partner at the mega firm if I had stayed, but I’m not sure I would have had the same opportunities to craft a career in a specialized practice area with the freedom to also have “a life,” says Terrence Franklin, a partner at Sacks Glazier Franklin & Lodise LLP whose trial and appellate experience includes the landmark Moeller v. Superior Court case before the California Supreme Court.

  • January 14, 2015

    ISS Backs $8.5B Dollar Tree Bid In Fight For Family Dollar

    Top proxy adviser Institutional Shareholder Services Inc. on Tuesday threw its weight behind Dollar Tree Inc.'s $8.5 billion bid for larger rival Family Dollar Stores Inc., likely giving the offer a boost with institutional investors ahead of a vote next week.

  • January 13, 2015

    SEC Announces Members Of Market Structure Advisory Panel

    The SEC has assembled a new committee to advise on the hot topic of market structure, and its first group will include luminaries like Financial Industry Regulatory Authority head Richard Ketchum, former Sen. Ted Kaufman and BATS Global Markets Inc. CEO Joe Ratterman.

  • January 13, 2015

    SEC's 2015 Exam Plans Take Broad View Of Saver Risk

    The U.S. Securities and Exchange Commission this year plans to put renewed vigor into checking out firms to make sure they aren’t putting retirement savers at greater risk, but some attorneys worry the agency's examination focus in the area could be used to dive deeper into private funds or set up new standards on advising clients.

  • January 13, 2015

    Caesars Lenders To Press Chancery Claims Despite Ch. 11

    Creditors who've lodged claims in Delaware Chancery Court accusing Caesars Entertainment Corp. and its management of “looting” its main operating unit said Tuesday they intend to press ahead with the case even after the subsidiary was hit with an involuntary bankruptcy petition, and likely will file for court protection itself.

  • January 13, 2015

    Franklin Aims To Hold Up Stockton's Ch. 9 Pending Appeal

    Franklin Templeton Investments urged a California bankruptcy judge Tuesday to delay implementation of the city of Stockton's Chapter 9 plan while the firm pursues an appeal, a move Stockton said would keep the city under a cloud.

  • January 13, 2015

    2nd Circ. Affirms Wide Reach For Ch. 15 Courts

    The full Second Circuit on Tuesday stood behind a landmark panel decision that jeopardized a hedge fund’s purchase of a $230 million claim against the Bernard Madoff bankruptcy estate and enhanced Chapter 15 courts’ ability to unwind foreign transactions.

  • January 13, 2015

    US, Tax Shelter Ordered To Finish Suit Over Loss Deductions

    A California federal judge moved toward closing a case Monday against  the U.S. government filed by two partnerships found to have operated illegal tax shelter funds now that the government won't pursue an additional negligence penalty against the funds, which unsuccessfully sued in attempt to claim certain deductions.

  • January 13, 2015

    Real Estate Rumor Mill: Fannie Mae, Goldman, Joe Sitt

    Fannie Mae is in talks to move its headquarters to the corner of L and 15 streets, while Goldman Sachs and Brennan Investment are said to have paid $170 million for 23 Chicago-area warehouses and Joe Sitt has reportedly paid $42.3 million for an Upper East Side retail property.

  • January 13, 2015

    Caesars Hits Resistance From Lenders On Restructuring Plan

    An informal committee of senior bank lenders holding more than half of the $5.4 billion in bank debt owed by Caesars Entertainment Corp.'s operating unit said Monday it would oppose the casino operator's proposed restructuring agreement unless a supermajority of the lenders assented to it.

  • January 13, 2015

    Stuy-Town Juniors Kick $5.4B Loan Fight To State Court

    A New York federal judge ordered Monday that a state court hear a lawsuit claiming CWCapital Asset Management LLC improperly seized the $5.4 billion Stuyvesant Town-Peter Cooper Village project following a debt default, a victory for junior lenders that say they were left out of the money.

  • January 13, 2015

    SEC Examiners To Focus On Cybersecurity, Alt Funds In 2015

    The U.S. Securities and Exchange Commission on Tuesday announced plans to delve deeper into how firms sell retail customers complex securities, control for cybersecurity risks and meet best execution duties when routing orders, among other priorities for its examinations staff.