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Results: 1-10 of 13

New trends in CMBS-restructuring

  • Mayer Brown LLP
  • -
  • Germany
  • -
  • June 22 2012

The sale of distressed real estate loans from a CMBS structure in connection with a seller’s financing through bond holders until recently, it would have been considered impossible what was achieved now during the restructuring of the Opera Uni-Invest transaction

Managing the risks and costs of e-discovery in regulatory investigations

  • Mayer Brown LLP
  • -
  • USA
  • -
  • November 30 2011

A financial institution is being investigated by the Securities and Exchange Commission (SEC) in connection with the institution’s role as trustee in certain residential mortgage-backed securitization (RMBS) transactions

US Securities and Exchange Commission issues concept release and request for comments regarding investment company exclusion under Section 3(c)(5)(c) of the Investment Company Act of 1940

  • Mayer Brown LLP
  • -
  • USA
  • -
  • September 21 2011

On August 31, 2011, the United States Securities and Exchange Commission (SEC), in Release No. IC-29778 (Release), provides a concept release and requests public comments regarding mortgage-related pools, including certain real estate investment trusts (REITs) and issuers of mortgage-backed securities, that rely on the exclusion under Section 3(c)(5)(C) of the Investment Company Act of 1940 (ICA or 40 Act

Enforceability of capital commitments in a subscription credit facility

  • Mayer Brown LLP
  • -
  • USA
  • -
  • July 7 2011

A subscription credit facility (a “Facility”), also frequently referred to as a capital call facility, is a loan made by a bank or other credit institution (the “Creditor”) to a closed end real estate or private equity fund (the “Fund”

Federal securities claims dismissed in In re Royal Bank of Scotland based on Morrison

  • Mayer Brown LLP
  • -
  • USA
  • -
  • February 11 2011

On January 11, 2011, Judge Deborah Batts of the Southern District of New York dismissed Section 10(b) and Rule 10b-5 claims brought by a putative class of US plaintiffs against Royal Bank of Scotland (RBS) and several underwriters and individuals

More unanticipated consequences - application of Article 122a of the EU Capital Requirements Directive to activities of certain US subsidiaries and affiliates of EU credit institutions

  • Mayer Brown LLP
  • -
  • European Union, USA
  • -
  • January 26 2011

In contrast to the frequent criticism made of US financial reform that it is rushed and uncoordinated, the comparable European Union (EU) reforms have generally been seen as deliberate and consultative

Southern District of New York requires allegation of scienter in securities claims against Barclays Bank

  • Mayer Brown LLP
  • -
  • USA
  • -
  • January 19 2011

In early January 2011, Judge Paul A. Crotty of the District Court for the Southern District of New York dismissed with prejudice a federal securities class action against Barclays, several of Barclays’ senior officers and a dozen other investment banks

European bank regulators issue guidelines on securitisation risk retention, due diligence and disclosure requirements

  • Mayer Brown LLP
  • -
  • European Union
  • -
  • January 6 2011

The Committee of European Banking Supervisors (CEBS) of the European Union (EU) on 31 December 2010 issued final guidelines (the "Guidelines") on application of new Article 122a of the Capital Requirements Directive (CRD) ("Article 122a"), which became effective 1 January 2011 for securitisations completed on or after that date (and will apply to existing securitisations with new underlying exposures on or after 1 January 2014

FDIC adopts new securitization safe harbors

  • Mayer Brown LLP
  • -
  • USA
  • -
  • October 1 2010

On September 27, 2010, the Board of the Federal Deposit Insurance Corporation (FDIC) adopted new safe harbors (the New Rules) relating to the treatment of securitizations (and participations) in receivership or conservatorship of an insured depository institution (bank

FDIC board votes to extend the securitization safe harbor

  • Mayer Brown LLP
  • -
  • USA
  • -
  • March 12 2010

The Board of Directors of the Federal Deposit Insurance Corporation (FDIC) has approved an extension through September 30, 2010 of the FDIC’s rule (the “Safe Harbor”) relating to the treatment of securitizations in receivership or conservatorship (12 CF 360.6