Asset Management

  • May 20, 2015

    Zurich Limits Asbestos Coverage At UK High Court

    The Supreme Court of the United Kingdom ruled Wednesday that a U.K. special rule limiting liability to asbestos claims does hold sway in a cluster of semi-independent islands in the English Channel, siding in part with an appeal by Zurich Insurance PLC UK.

  • May 20, 2015

    Ex-Madoff Worker Avoids Prison After Cooperating

    A former employee at Bernie Madoff's collapsed securities firm was spared prison on Wednesday by a New York federal judge after prosecutors lauded his cooperation in the sprawling investigation of the Ponzi scheme.

  • May 20, 2015

    LightSquared Seeks Permisssion To Enter $1.75B Facility

    LightSquared Inc. on Tuesday asked a New York bankruptcy judge to approve its entering into a $1.75 billion working capital facility with three lenders that is intended to get the wireless communications startup back on its feet after its reorganization plan was approved earlier this year.

  • May 20, 2015

    Accused 'Flash Crash' Trader Spoofed In Bizarre Filing: Atty

    An attorney representing accused “flash crash” trader Navinder Singh Sarao corrected the record Tuesday after a bizarre letter appeared on an Illinois federal court docket demanding Sarao be “let alone” and threatening several government officials.

  • May 20, 2015

    GP Investments’ Blank Check Co. Draws $150M In IPO

    New York-based GP Investments Acquisition Corp., formed by Latin American buyout specialist GP Investments Ltd., grabbed $150 million in a Wednesday initial public offering led by Skadden Arps Meagher & Flom LLP, marking the latest blank check company to go public as more asset managers turn to permanent capital vehicles.

  • May 20, 2015

    Moore Capital Can't Limit Exposure In $20M Lehman Swap Suit

    A New York bankruptcy judge refused Tuesday to limit Moore Capital Management LLC's potential liability in a $20 million dispute over swap agreements with Lehman Brothers Holdings Inc., saying establishing whether the hedge fund sponsor is liable for alleged contract breaches must come first.

  • May 20, 2015

    SEC Eyeing Tougher Disclosure Requirements For Funds

    The U.S. Securities and Exchange Commission on Wednesday unanimously approved the proposal of rules requiring greater transparency and modernized reporting disclosures from investment companies and advisers, to ostensibly help individual investors navigate risk.

  • May 20, 2015

    REITs Gaining Upper Hand In JVs With Pension Funds

    As foreign and domestic pension funds look to deploy capital into real estate and chase a shrinking number of U.S. deals, funds are increasingly partnering with real estate investment trusts, and given the competition for deals, REITs have the upper hand in negotiating joint venture terms, lawyers say.

  • May 20, 2015

    Yahoo Says Alibaba Spinoff Still On Despite IRS Comments

    California-based Yahoo Inc. said on Wednesday it still plans to spin off its $40 billion stake in Alibaba Group Holding Ltd. in a tax-free transaction despite reports that the Internal Revenue Service is rethinking how it issues private letter rulings in spinoffs.

  • May 20, 2015

    Citi To Pay $394M In Antitrust Deal With Forex Investors

    Citigroup Inc. has agreed to pay $394 million to settle with a group of private investors who accused the bank of manipulating the foreign exchange market, the plaintiffs said Wednesday, as Citi and four other major banks also agreed to pay $5.6 billion to resolve criminal charges over the plot.

  • May 20, 2015

    5 Banks To Pay $5.6B, Plead Guilty Over Forex Probes

    Barclays PLC, Citigroup Inc. and three others of the world’s largest banks on Wednesday were hit with criminal charges and agreed to pay more than $5.6 billion to settle U.S. and U.K. claims that they manipulated the global foreign exchange markets.

  • May 19, 2015

    FINRA's Plan For Algorithmic Developers Gets Mixed Reviews

    With the comment period on the Financial Industry Regulatory Authority’s proposal for trading algorithm developers to register as securities traders expiring Monday, the plan garnered support from “Flash Boys” star IEX Group and others, while high-frequency trading firm Susquehanna International Group said the proposal “would create more problems than it seeks to remedy.”

  • May 19, 2015

    2015 Law360 Minority Report

    Minority attorneys continue to be underrepresented at all levels at U.S. law firms, according to a Law360 head count survey of nearly 300 firms. Here, we reveal the main findings of the 2015 Law360 Minority Report, including head count information by race for each firm.

  • May 19, 2015

    The 50 Best Firms For Minority Partners

    While equity partners at most U.S. law firms remain nearly all white, a group of 50 firms lead the pack when it comes to racial diversity at the equity partner level, according to Law360 data.

  • May 19, 2015

    Diversity Gap A Growing Threat To BigLaw Bottom Lines

    Despite progress over the last decade and a half, minorities remain woefully underrepresented in U.S. law firms at every level, and while experts say the problem is bigger than BigLaw, they warn that a failure to act now will have dire consequences in the long run for any law firm's financial future.

  • May 19, 2015

    The 100 Best Law Firms For Minority Attorneys

    For the first time ever, Law360 has ranked the 100 best U.S. law firms for racial minorities, based on the firms' minority representation at the partner and nonpartner levels and their total number of minority attorneys.

  • May 19, 2015

    Judge Weighs OAS Ch. 15 Status Amid Hungry Creditors

    A New York bankruptcy judge delayed determining whether to grant OAS SA Chapter 15 protection from creditor Aurelius Capital Management LP as the Brazilian construction giant restructures in its home country, but said Tuesday that the private equity firm did little to show it would be treated unfairly in Brazil.

  • May 19, 2015

    REIT Ashford Trust Buys 9-Hotel Portfolio For $224M

    Ashford Hospitality Trust Inc. said Tuesday it is buying a nine-hotel portfolio for $224 million in cash, marking the latest acquisition for the Dallas-based real estate investment trust focused on upscale hospitality properties.

  • May 19, 2015

    Real Estate Rumor Mill: Hinshaw, Pitchbook Data, Altegra

    Hinshaw & Culbertson is reportedly leasing 100,000 square feet of space in Chicago, Pitchbook Data is said to be nearly doubling its space in Seattle, and Altegra Health has reportedly leased nearly 53,000 square feet in Weston, Florida.

  • May 19, 2015

    FINRA To Ease Filing Rules For Broker-Dealer Marketing

    The Financial Industry Regulatory Authority on Monday announced plans to reduce the number of marketing materials and other communications with the public that broker-dealers have to file with the regulator.