Asset Management

  • December 5, 2014

    SIFMA Finds Unlikely Allies Against FINRA's Risk Data Plan

    As the Securities Industry and Financial Markets Association ramps up its opposition to the Financial Industry Regulatory Authority's proposal to mine broker-dealers for transaction data, it's finding unlikely allies in groups such as the American Civil Liberties Union, which see the plan as just another blow against individual data privacy.

  • December 5, 2014

    SEC Judge Dings Bharara's Office For Emailed Stay Request

    An in-house judge for the U.S. Securities and Exchange Commission knocked the office of U.S. Attorney Preet Bharara on Thursday for using email to request a stay in an administrative action against a New York broker-dealer CEO who faces charges in a parallel criminal proceeding.

  • December 5, 2014

    IOI Properties Drops $808M To Buy Stake In Taipei 101

    IOI Properties Group Bhd is acquiring a more than one-third stake in the owner of Taipei 101, which was the world's tallest building when it was completed in 2004, for 25.14 billion New Taiwan dollars ($808 million), the company said in a stock exchange filing Friday.

  • December 5, 2014

    Dow Sells Off 2 More Units Amid Big-Ticket Slimdown Push

    Dow Chemical Co. said Friday it will unload its sodium borohydride business and an Ohio plant for $225 million, in line with a broader plan to hive off up to $8.5 billion in lower-margin assets after catching flak from an activist for its sprawling operations.

  • December 5, 2014

    RE Rumor Mill: Ashkenazy, Extell, Watergate Hotel

    Ashkenazy Acquisitions is reportedly making a $290 million play to buy a large New York Marriott hotel, while Extell Development may be selling a massive Manhattan apartment and retail complex and Euro Capital Properties is said to be injecting $125 million to reopen Washington, D.C.'s infamous Watergate Hotel.

  • December 4, 2014

    Future Of Ch. 11 Hinges On Long-Awaited Report

    The restructuring community is bracing for the release on Monday of a highly anticipated commission report on reforming Chapter 11, which attorneys expect to recommend sweeping alterations to the bankruptcy regime focused on the new commercial realities since its 1978 enactment.

  • December 4, 2014

    Madoff Trustee Can't Immediately Appeal Merkin Ruling

    A New York bankruptcy judge has stymied the latest attempt by Bernie Madoff's liquidating trustee to reclaim $564 million from major feeder fund manager J. Ezra Merkin, saying Thursday that the trustee couldn't appeal a setback in the case to the Second Circuit anytime soon.

  • December 4, 2014

    WP Carey Buys €300M In Real Estate In Spanish Region

    The Spanish region of Andalusia has sold 70 buildings to a Spanish subsidiary of real estate investment trust WP Carey Inc. for €300 million ($372 million), the Andalusia government said Thursday.

  • December 4, 2014

    RE Rumor Mill: SL Green, Old Main Post Office, Lightstone

    SL Green Realty Corp. is reportedly looking to sell a Manhattan retail and office building that could fetch around $300 million, while Chicago's Old Main Post Office building is said to be going on the market after a failed deal and the Lightstone Group reportedly nabbed a New York office tower for under $200 million.

  • December 4, 2014

    Market Rumors: Cosan, Universal Terminal, Elliot Management

    Brazil's Cosan has killed plans to launch an unspecified amount of global, dollar-denominated bonds while Singapore's Universal Terminal has postponed its $762 million business trust initial public offering.

  • December 4, 2014

    SEC Studies Say High-Frequency Trading Has Benefits

    The U.S. Securities and Exchange Commission this week published a pair of internal studies looking at the role that automated, high-frequency trading plays in the marketplace, including one that claimed to be the first study to demonstrate the benefits of low-latency trading.

  • December 4, 2014

    Accor, Airport Developer Ink Leases For Paris Hotel Trio

    The asset management arm of Accor SA and airport developer Aeroports de Paris have inked a series of lease deals to bring two new hotels to a Paris airport and expand an existing lodging property in the area, the companies announced Thursday.

  • December 4, 2014

    Caesars Bondholders Rip $155M ‘Backroom’ Refi Deal

    A group of hedge funds argued Wednesday that Caesars Entertainment Corp. breached federal law and loan indentures in a $155 million “backroom” refinancing deal with a favored creditor group that allegedly ensured their debts would be wiped out in the near-certain bankruptcy of its main operating unit.

  • December 4, 2014

    ACLU Likens FINRA's Risk Data Program To NSA Monitoring

    The American Civil Liberties Union on Wednesday joined a growing chorus of criticism against the Financial Industry Regulatory Authority's plan to collect and mine broker-dealer transaction data, calling it a dangerous tool for government surveillance on par with National Security Agency’s bulk telephone metadata collection. 

  • December 4, 2014

    Obama Warned Of Weakening Finance Regs In EU Trade Talks

    The top Democrat on the House Financial Services Committee and three of her colleagues on Wednesday cautioned the Obama administration about negotiating any trade agreement with the European Union that would weaken regulators' abilities to safeguard financial markets and consumers.

  • December 4, 2014

    RCS Capital, ARCP Strike $60M Settlement Over Killed Deal

    RCS Capital Corp. said Thursday that it has agreed to a $60 million settlement to put to bed Delaware Court of Chancery litigation lobbed by American Realty Capital Properties Inc. over RCS's decision to kill a $700 million deal to buy ARCP's capital management arm.

  • December 3, 2014

    Bausch & Lomb Violated ERISA With Execs' Payout: 2nd Circ.

    The Second Circuit ruled in favor of three former Bausch & Lomb Inc. executives on Wednesday, affirming a district court decision finding the company violated ERISA by underpaying pension benefits after a merger.

  • December 3, 2014

    SEC Can Take Chinese Trader's Penalty From Frozen Funds

    An Illinois federal judge on Wednesday unfroze assets connected to Chinese investment adviser Siming Yang and directed that $150,000 turned over to the U.S. Securities and Exchange Commission, which said the move was necessary because he had failed to pay a civil penalty in that amount.

  • December 3, 2014

    Winthrop Sells Philly Building For $85M Amid Liquidation

    Winthrop Realty Trust Inc. said Wednesday that it has sold a downtown Philadelphia office building property for $85 million to an unnamed unaffiliated buyer, in the latest sale as the publicly traded real estate investment trust pursues its liquidation plan.

  • December 3, 2014

    Law Firm Can’t Fight $1.9M Deficiency Notice, IRS Says

    The Internal Revenue Service asked the U.S. Tax Court on Monday to boot claims from a California law firm that the agency wrongly served it with a $1.9 million deficiency notice for the 2011 tax year, arguing Leodis C. Matthews APC did not have adequate privileges to file a lawsuit at the time the petition was filed.