Here’s a fun conversation starter for lenders, borrowers and attorneys who regularly work on HUD-insured multifamily and health care facility loans: If HUD had a list of Ten Commandments for obtaining a HUD-insured loan, what would be Commandment No. 1? Most professionals in the HUD-insured loan universe would likely put the “first lien” requirement at or near the top of the list of Ten Commandments ...
The Emirates’ first stock exchange, the Dubai Financial Market, has been trading since mid 2000. A stock exchange was subsequently established in Abu Dhabi. Although the two markets are not presently linked, they are both subject to regulation under the UAE Securities & Commodities Exchange Law (the “Law”), which is a Federal legislation ...
[!<CDATA[ Recent changes in the Securities and Exchange Commission (SEC) proxy rules will give shareholders the ability to vote for directors like never before. The new rules will require companies to provide universal proxy cards to shareholders voting by proxy in contested director elections. Universal proxy cards will require the company and the dissident to each list all nominated directors on their proxy cards ...
The standards for Section 11 liability for statements of opinion in registration statements is the subject of a split between the federal circuit courts. The Tenth Circuit joined the split in the recently issued opinion, MHC Mutual Conversion Fund v. Sandler O’Neill & Partners, et al. The Supreme Court is scheduled to resolve this split next term in the Omnicare1 case, which is currently being briefed before the high court ...
The Fifth Circuit Court of Appeals recently affirmed a district court ruling regarding class certification in a securities class action, Ludlow, et al. v. BP, PLC, et al., stemming from the 2010 Deepwater Horizon explosion in the Gulf of Mexico. The opinion provides several important takeaways for securities class action litigation. To read the full alert, click here ...
Many billions of assets under management have already been tokenised. High profile managers such as Franklin Templeton, Abrdn, KKR, Mitsui and Hamilton Lane have already launched tokenised products. Whilst there is no doubt that this is a nascent space, and these assets still represent a tiny percentage of the funds industry, we expect this area to grow exponentially in the coming years. What is tokenisation? Tokenisation is the digital representation of "traditional" financial assets (e.g ...
In our Client Alert dated 26 March 2021, we reported that the Government had released a draft Technical Circular on the implementation of the spirit of Security of Payment Legislation (SOPL) in public works contracts. The draft Circular was provided to stakeholders to comment and the Circular aimed at implementing certain measures of SOPL on public works contracts, term contracts and related subcontracts tendered after July/August 2021 ...
Commercial real estate professionals live in a world where single-asset entities (SAEs) are ubiquitous. In this respect, the niche market of HUD-affiliated health care facilities follows suit. Skilled nursing or assisted living facility owners seeking HUD-insured financing and the operators overseeing day-to-day functions at those facilities generally need to be SAEs to participate in the HUD programs ...
Introduction There are multiple insurance policies available on the market to protect your property in Quebec. But how well do you know all your options? In 2016, we addressed peer-to-peer insurance, which is essentially a community of users wanting to insure similar goods and services together.1 However, in November 2021, the Superior Court of Québec rendered an interesting decision2 on self-insurance in the context of insurance offered by two (2) student associations ...
As the Commission for the Financial Market (the “Commission”) came into full force this January (read previous news alert here), the regulation of the Chilean financial market took a step forward in terms of institutionalism and modernization. In this context, one of the changes introduced by Law No. 21,000 (the “Law”), that created the Commission, is the self-regulation of entities in the financial market ...
Heightened concerns over recent National Labor Relations Board (“NLRB”) complaints authorized against McDonald’s, USA, LLC—which threaten to undermine the common understanding of a franchisor-franchisee relationship and expand the definition of “employer”— caught the eye of Texas legislators during the recently concluded 84th Regular Texas Legislative Session ...
In the wake of the economic downturn caused by the coronavirus outbreak, Congress sought to pass a stimulus bill designed to mitigate the negative impact on the U.S. economy of measures taken to slow the spread of the virus.Hopes of a quick passage of the bill dimmed on March 21, when the Democrat and Republican negotiators in the Senate could not agree on worker protections or stock buyback restrictions for businesses that received funding, among other issues ...
Mamo TCV Advocates is pleased to announce the promotion of Laura Spiteri and Julian Fenech Adami to the position of Senior Associates. Laura joined Mamo TCV Advocates as a trainee in 2015 and, after completing her post-graduate degree, transitioned to the Antitrust and Competition Law department as an associate ...
The Securities and Exchanges Commission (SEC) has announced a settled Administrative Proceeding with Senvest Management LLC (“Senvest”). Pursuant to the SEC issued Order, Senvest failed to maintain and preserve certain electronic communications and failed to enforce its code of ethics ...
Work with the People to Solve the Problem When approaching mediation, parties need to work together to tackle the problem, not each other. The goal is to be soft on the people and hard on the problem. Failing to interact with the other party sensitively, can be catastrophic to building or maintaining a working relationship. Knowing the other side personally helps to build cordiality. Find ways to meet them informally before the negotiation, arrive early to chat or linger afterwards ...
The Parliament of the Republic of Serbia has adopted a Law on the Protection of Whistleblowers (the “Law”). The Law, which was adopted on 25 November 2014, will become applicable on June 5, 2015. This is the first time that Serbia has a law which should systematically and comprehensively provide effective protection to individuals who report suspicions of corruption ...
The Government of Serbia adoptedthe Regulation on Fiscal Benefits and Direct Aid to Private Sector Entities and Financial Aid to Citizens to Mitigate the Economic Impact ofCOVID-19 (“Regulation”) on 10 April 2020, ten days after the announcement of the proposalof the Program of economic measures aimedat reducing the negative effects caused by the COVID-19 pandemic. The Regulation provides tax benefits and direct payments to private sector companies ...
The Serbian Parliament adopted amendments to the Serbian Company Law (Law), and they were published in the official journal on the same date. This is the first overhaul of the Serbian Company Law since it was enacted back in 2011. Most of the amendments relate to the introduction of the concepts required for Serbia's accession to the EU (such as cross-border merger and European company forms) ...
Following onrecent newsregarding the mutual desire of both sides to improve the commercial relations between Slovenia and Serbia, there are now additional reports to substantiate these claims ...
In light of the new EU data protection scheme, shaped by the GDPR, Serbia has enacted a new Data Protection Law earlier this year, with its' applicability postponed for 21 August 2019. The new law was long-awaited: it has been 10 years since the existing law was passed, which was even at that moment already outdated (e.g. it recognized only consent in the written form and almost completely restricted data transfers to non-European countries) ...
As of 31 December 2018, the Central Registry of Ultimate Beneficial Owners was established within the Serbian Business Registers Agency (the “Registry”), in line with the Law on Ultimate Beneficial Owners (“Official Gazette of the RoS no. 41/2018). In addition, the Ministry of Economy issued guidelines which provide more information on the implementation of certain aspects of this Law (the “Guidelines”) ...
As we are slowly nearing the mid-point of 2016, it is a good time to look back on the export values of companies in Serbia during the previous year, as it is made possible by a set of Serbian Ministry of Finance's recently published data in this regard. According to the Ministry, the total value of the top 15 exporters in the first seven months of 2015 had totalled at approximately EUR 2.2 billion, asFiat Chrysler Automobiles (FCA) led the way with an export value of EUR 814 million ...
The National Consumer Service ("SERNAC") initiated a citizen consultation aimed at consumers to learn about their opinions on how protected they feel in consumer matters and how they perceive the current role and powers of the Service. In order to gather the opinion’s of the citizens, a form with 12 questions will be available on its website until July 23 ...
