By Dakin Campbell | July 20, 2017
In a symbol of how much Goldman Sachs Group Inc. has changed from its days as a true partnership, the company disclosed that the combined ownership of its so-called partners has dropped below 5 percent.
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By Roy Strom | July 20, 2017
A pristine start to a Big Law career has been derailed for a former editor-in-chief of Harvard Law School's International Law Review who joined Linklaters in 2015.
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By Jordan A. Thomas | July 20, 2017
Jordan A. Thomas writes: We don't say this often, and we haven't heard it lately, but with the SEC Whistleblower Program, the United States government got it right. Really right.
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By Karen Sloan | July 20, 2017
A bankruptcy judge has ruled that the institutions have standing in a lawsuit resulting in a large punitive damages award.
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By newyorklawjournal | New York Law Journal | July 18, 2017
Banking Law §675 Presumption Inapplicable; Judgment to Decedent's Brother Denied
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By Celia Ampel | July 18, 2017
The former Wall Street hedge fund employee stole his ex-coworkers' identities to get fraudulent loans, according to prosecutors.
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By Celia Ampel | July 18, 2017
The former Wall Street hedge fund employee stole his ex-coworkers' identities to get fraudulent loans, according to prosecutors.
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By Carla Vianna | July 18, 2017
Transwestern's Miami-based managing director John Bell helps market and sell an underperforming office asset in downtown Jacksonville for $15 million.
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By C. Ryan Barber | July 18, 2017
The Consumer Financial Protection Bureau is moving forward on a rule that would restrict arbitration agreements that block consumers from bringing class actions against banks. Now, it's game on for the rule's supporters and opponents. The battle may not be confined to Capitol Hill. Ready for a "legal hail Mary"?
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By Andrew C. Kassner and Joseph N. Argentina Jr. | July 14, 2017
Over the years, the real estate industry relied heavily on securitization vehicles to finance commercial real estate projects. The loans are packaged and then sold in pools to investors. Various mechanisms have been developed to facilitate collection of the loans without the uncertainty of a borrower bankruptcy filing that could delay and increase the costs of collection. Lenders in these secured transactions often use special purpose entities, or SPEs, to attempt to limit the risk of a borrower bankruptcy filing. While these structures can vary, the concept is to create a separate corporate entity whose only purpose and asset is the one real estate project, and the only significant obligation is the mortgage loan. The SPE is isolated from the financial affairs of the corporate parent or affiliates. The lender requires the borrower to appoint an independent director to the board from a mutually acceptable source, and unanimous board approval for certain key decisions, such as the decision to file for bankruptcy. Consequently, a lender is able to reduce the risk of delay after default and high costs of collection, and the borrower benefits from lower interest rates and fees from the lower cost loan.
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