Asset Management

  • January 5, 2017

    Nygard Sues Witnesses In Bacon's $50M Defamation Case

    Fashion executive Peter Nygard lobbed racketeering allegations at billionaire Louis Bacon for allegedly paying witnesses in Bacon's $50 million defamation suit against Nygard millions of dollars to testify against him.

  • January 5, 2017

    Ex-Jefferies Trader Abused Trust, Gov't Says In Fraud Retrial

    Federal prosecutors embarked on a second attempt to convict Jesse Litvak on securities fraud charges on Thursday, telling a Connecticut jury the former Jefferies & Co. trader lied to customers about markups on mortgage-backed bonds he sold after the financial crisis.

  • January 5, 2017

    White Urges SEC Head To Work On Accounting Standards

    Departing U.S. Securities and Exchange Commission Chair Mary Jo White issued a statement Thursday urging her replacement to continue to pursue global standards for financial reporting, a day after President-elect Donald Trump said he would nominate a Sullivan & Cromwell LLP partner to fill her spot.

  • January 5, 2017

    Dechert Steers Column's $146M Loan For NY Twitter Building

    Dechert LLP represented Column Financial Inc. in connection with its roughly $146.2 million loan to New York REIT Inc. for the so-called Twitter building in Chelsea, according to records made public Wednesday in New York.

  • January 5, 2017

    Family Holds Key to Springing Jailed Hedge Funder: Judge

    A New York federal judge promised on Wednesday to free a hedge fund founder who has been jailed for contempt for almost 18 months once his family members follow instructions to turn over to the court the contents of a Swiss bank account.

  • January 5, 2017

    SocGen Worker Says Award Over Nixed Promotion Is Tainted

    A former Société Générale SA energy derivatives employee urged a New York federal court on Wednesday to overturn an arbitral award clearing the French financial firm of wrongdoing for denying him a post-merger promotion, saying "outrageous" bias against him by one of the arbitrators can't be ignored.

  • January 5, 2017

    Mesa West Capital Clinches $900M Real Estate Debt Fund

    Mesa West Capital LLC has closed a $900 million fund that is its fourth and largest-ever closed-end fund for real estate debt, according to an announcement on Wednesday from the Los Angeles-based real estate private equity shop.

  • January 5, 2017

    Corzine To Pay CFTC $5M Over MF Global Meltdown

    Former MF Global CEO Jon Corzine and assistant treasurer Edith O’Brien have agreed to pay $5 million and $500,000, respectively, to the U.S. Commodity Futures Trading Commission to settle charges over their roles in the firm’s 2011 collapse, the CFTC announced Thursday.

  • January 5, 2017

    Neuberger Berman Closes $2.5B Secondary Fund

    Private investment manager Neuberger Berman Group LLC said Thursday that it has closed a $2.5 billion fund focused on secondary private equity investments, surpassing its target by $500 million.

  • January 4, 2017

    Trump’s Wall Street Ally Pick Signals Enforcement-Light SEC

    President-elect Donald Trump’s selection of Sullivan & Cromwell LLP partner Jay Clayton to chair the U.S. Securities and Exchange Commission signals a major shift for the Wall Street watchdog, as experts say the M&A attorney is likely to turn the agency’s focus from enforcement both domestically and internationally to cutting the rules companies find most irksome.

  • January 4, 2017

    MF Global Insurers Warned Over Seeking Impermissible Relief

    A New York bankruptcy judge on Wednesday warned Ironshore Insurance Ltd. and others accused of wrongfully refusing to participate in the payment of a massive settlement in connection with MF Global's infamous collapse of “draconian sanctions” should they again seek relief from a Bermuda court.

  • January 4, 2017

    Ex-VC Exec Seeks Docs From Former Firm In SEC Suit

    An ex-Oak Investment Partners executive accused of defrauding the venture capital firm's investors of $27.5 million asked a Connecticut federal judge to force his former employer to hand over all documents pertaining to one of the disputed deals, arguing Tuesday that the fund is just experiencing “buyer’s remorse.”

  • January 4, 2017

    Fried Frank Adds PE Partner From Akin In New York

    Fried Frank Harris Shriver & Jacobson LLP said Tuesday it has hired an ex-Akin Gump Strauss Hauer & Feld LLP asset management pro with experience advising private equity and hedge fund managers in complex transactions and fund formations.

  • January 4, 2017

    Ex-Lehman Workers Take $200M Ch. 11 Pay Beef To 2nd Circ.

    Some 100 former Lehman Brothers Holdings Inc. workers urged the Second Circuit on Wednesday to reverse a bankruptcy court's decision to treat what they call $200 million in improperly withheld salary as low-priority equity claims, but a three-judge panel did not appear keen to undo the finding.

  • January 4, 2017

    Dechert Securities Partner Joins Norton Rose In New York

    Norton Rose Fulbright announced that it has expanded its securitization and structured finance presence with the addition of an attorney who spent more than 20 years with Dechert LLP.

  • January 4, 2017

    Fallen Finance Whizzes Deny $2B NY Pension Bribery Plot

    Former New York state pension strategist Navnoor Kang and former Sterne Agee managing director Deborah Kelley denied bribery and obstruction charges Wednesday in New York federal court, where prosecutors say Kang steered $2 billion of investor dollars toward Kelley and others in exchange for cash, prostitutes and drugs.

  • January 4, 2017

    Prudential Defeats ERISA Suit Over Revenue Sharing

    Prudential Retirement Insurance and Annuity Co. has beaten a proposed class action alleging it operates a pay-to-play scheme by forging agreements with mutual funds the suit likens to kickbacks after a Connecticut federal judge ruled Prudential isn’t a fiduciary for a plumbing supplies wholesaler’s retirement plans.

  • January 4, 2017

    Hong Kong To Roll Out 1st Renminbi-Based Currency Options

    The owner of the Hong Kong stock exchange said Wednesday it plans to offer renminbi-based currency options in the first quarter of 2017, pending market readiness, as part of the exchange’s larger effort to expand its China-related offerings to cross-border investors.

  • January 4, 2017

    Icahn Enterprises Sweetens Federal-Mogul Tender Offer

    Icahn Enterprises LP on Tuesday sweetened its tender offer for the Federal-Mogul Holdings Corp. stock it does not already own, as Carl Icahn’s investment vehicle attempts to hit the minimum threshold it needs to seal its planned takeover of the auto parts maker.

  • January 4, 2017

    Pension Fund, Real Estate Co. Pay $141M For Danish Marriott

    A Danish pension fund and a real estate investment company that it collaborates with on real estate investments came together again on Tuesday to purchase the Copenhagen Marriott Hotel for €135 million ($141.4 million).

Expert Analysis

  • Avoiding Law Firm BYOD Risks: Tips For Securing Devices

    Everett Monroe

    Many believe that the solutions to the security problems created by using smartphones for work are primarily technological, but a much larger piece of the puzzle involves the human factor. To achieve reasonable security around mobile devices, law firms must go back to basics — clear policies, effective training and thoughtful oversight, says Everett Monroe of Hanson Bridgett LLP.

  • Changing Fiduciary Duty Landscape In A Trump Presidency

    Russell D. Sacks

    Following on the heels of the final U.S. Department of Labor fiduciary rule is the pending effectiveness of new fiduciary standards for municipal advisers, and the expected release of a proposed uniform fiduciary standard by the U.S. Securities and Exchange Commission. The election of Donald Trump as president, however, creates uncertainty about the current path and increases the possibility of change, say attorneys with Shearman & Sterling LLP.

  • 4 Ways Lawyers Can Improve Their Marketing

    Mike Mellor

    Attorneys may not realize the breadth of services that their marketing, design and library teams offer. One of the things I like to do when attorneys start at our firm is give them a download of the kinds of problems we can solve for them so they know how to work with us most effectively, says Mike Mellor, director of marketing at Pryor Cashman LLP.

  • What Financial Institutions Think Of Int'l Arbitration

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    On Nov. 9, an ICC Commission task force released the results of a two-year study regarding the advantages of arbitrating disputes involving financial institutions. Latham & Watkins LLP partner Claudia Salomon, who co-chaired the task force, shares the key findings.

  • SEC In-House Practice Going Back To 'Old Normal'

    David L. Kornblau

    Although the Dodd-Frank Act gave the U.S. Securities and Exchange Commission nearly unfettered discretion to bring almost any enforcement action as an administrative proceeding, 2015 and 2016 data show that the SEC has been reverting to its pre-Dodd-Frank practice in this area. This trend appears likely to continue as the SEC’s composition changes under the Trump administration, say David Kornblau and Sarah Mac Dougall of Covington & Burling LLP.

  • Negotiating Appraisal Conditions In Public M&A

    Victor Lewkow

    Appraisal rights in public mergers and acquisitions have recently garnered greater attention, particularly in Delaware. As a result, more attention is being paid to the possible inclusion of a closing condition protecting the acquirer against excessive use of appraisal rights. Victor Lewkow and Robert Gruszecki of Cleary Gottlieb Steen & Hamilton LLP offer tips for negotiating and drafting such provisions.

  • Beyond Bean Counting: How Legal Can Add True Value

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    For legal departments to stay in front of the crowd, cost-cutting alone is not enough. Neither is claims-driven revenue generation, nor running endless analytics of outside legal spend. This is short-term, passive, scarcity-based thinking that keeps legal departments from offering their corporate clients the greatest possible value — competitive advantage, says David Wallace of Herbert Smith Freehills LLP.

  • A Series Of Firsts In Muni Bond Enforcement Since 2010

    Kevin J. Harnisch

    Since the U.S. Securities and Exchange Commission established its public finance unit in 2010, it has brought a number of enforcement “firsts” against a range of defendants and has used an assortment of enforcement tactics. Attorneys with Norton Rose Fulbright review the cumulative new ground broken by the SEC to address perceived misconduct in the municipal securities market.

  • OPINION: The US Supreme Court In 2017

    James Brosnahan

    The ideologue’s main problem is believing in conformity of thought. They will now search for true believers, but fortunately very few judges harbor the dark, conservative uniformity desired. If they do find one, the Senate will not confirm, says James Brosnahan, a senior trial counsel with Morrison & Foerster LLP.

  • Inside The Liquidity Risk Management Rules: Part 2

    Kenneth E. Burdon

    The promulgation of the new liquidity risk management rules for mutual funds and exchange-traded funds, together with the emphasis on reporting specific liquidity-based shortfalls to fund boards and to the U.S. Securities and Exchange Commission, raises interesting disclosure dynamics in the context of open-end funds conducting continuous public offerings, say attorneys with Skadden Arps Slate Meagher & Flom LLP.