Fine print dooms borrower’s president to personal liability on corporate loan
USA - September 20 2010 A New York state court recently held that the president of Hooper Home Construction Corporation (“HHCC”), Dale R. Hooper (“Hooper”), was personally liable to plaintiff Wells Fargo Bank, N.A. (“Wells Fargo”) for the default on the company’s Business Line Credit Agreement (“BLCA”
ING agrees to colossal settlement for U.S. sanctions violations
USA - October 15 2012 In a recent deferred prosecution agreement with the United States government and Manhattan’s District Attorney’s Office, ING Bank (“ING”) agreed to pay a record-breaking fine of $619 million for violations of the U.S. sanctions regime and the accompanying fraud that enabled the misconduct
Materiality scrapes trending upward in private M&A deals
USA - November 26 2013 A "materiality scrape" (or "materiality read-out") is a buyer-friendly provision that has become one of the most commonly negotiated points in
Boilerplate matters: are prohibited assignments permitted?
USA - September 19 2012 Assignment clauses are among the typical boilerplate provisions appearing in most contracts
Public sideprivate side wall helps defeat breach of loyalty claim
USA - September 13 2011 A New York federal court recently ruled that an information barrier in place between the “public” and “private” sides at JPMorgan Chase Bank (“JPMC”) was adequate to prevent public trust group personnel from obtaining material non-public information from JPMC’s private investment business
Project Finance NewsWire - February 2017
USA - February 20 2017 The possibility that Congress will overhaul the US tax code is already having a number of effects on the market. Corporate tax reform is unlikely to
Geothermal Electricity Generation in Turkey: Large Potential Awaiting Investors
Turkey - February 1 2017 Turkey is a country with ample geothermal energy resources. Even though it is a clean, sustainable and homegrown (as opposed to oil and gas, which
Second Circuit Provides Clear Guidance to Market on Scope of Permissible Acts under Trust Indenture Act Section 316(b)
USA - January 30 2017 The Second Circuit has answered the question that many issuers, indenture trustees and noteholders have struggled with over the last couple of
FTC Revises Hart-Scott-Rodino Thresholds for 2017
USA - January 24 2017 On January 19, 2017, the Federal Trade Commission (FTC) announced revised notification thresholds pursuant to the Hart-Scott Rodino Act (HSR
Turkey Boosts Large-Scale Solar Investments
Turkey - January 23 2017 The tender for the Karapınar Resource Area, a solar-power energy zone with an allocated capacity of 1 GW, will take place on February 21, 2017. This
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