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Senate Passes Regulatory Relief Bill

On March 14th, the Senate passed a significant regulatory relief bill, the “Economic Growth, Regulatory Relief, and Consumer Protection Act,” in a bipartisan 67-to-31 vote. The Bill, if ultimately enacted, would result in the first major revisions to the ...

Resource Article - twallace@abiwor... - 04/03/2018 - 10:46 - 0 comments - 0 attachments

Chapter 15: A sword and a shield

The ruling: Chapter 15 Debtors can assert avoidance actions under state law On March 23, 2017, the United States Bankruptcy Court for the Southern District of Florida, Miami Division, ruled that a foreign debtor could use Chapter 15 to assert “avoidanc ...

Resource Article - twallace@abiwor... - 03/13/2018 - 13:33 - 0 comments - 1 attachment

Cybersecurity and Privacy Watch Blog Update

SEC Issues Interpretive Release on Cybersecurity Disclosure Data Privacy Class Action Against Facebook Survives Motion To Dismiss New Rules for Searching Electronic Devices at the U.S. Border US China Business Council Lays Out Recommendat ...

Resource Article - twallace@abiwor... - 03/13/2018 - 13:18 - 0 comments - 0 attachments

English Schemes of Arrangement: Points to Note From a Recent Example

Cleary Gottlieb Steen & Hamilton LLP recently represented Far-Eastern Shipping Company plc, a public company incorporated in Russia, and certain of its affiliates in their restructuring of over USD 1 billion of debt. Part of the restructuring involve ...

Resource Article - twallace@abiwor... - 03/13/2018 - 12:57 - 0 comments - 1 attachment

Supreme Court Holds Section 546(e) Safe Harbor Does Not Apply to All Transfers Made Through Financial Institutions

Earlier this week, the U.S. Supreme Court issued its unanimous decision in Merit Management Group, LP v. FTI Consulting, Inc., holding that 11 U.S.C § 546(e), which creates a safe harbor against the avoidance of certain transfers made “by or to (or for t ...

Resource Article - twallace@abiwor... - 03/13/2018 - 13:19 - 0 comments - 0 attachments

Treasury Recommends Retaining Orderly Liquidation Authority

On February 21, 2018, the U.S. Treasury Department released its long-awaited report on the Orderly Liquidation Authority (OLA) established under Title II of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the Dodd-Frank Act). The report, ...

Resource Article - twallace@abiwor... - 03/13/2018 - 12:16 - 0 comments - 1 attachment

SEC Issues Interpretive Release on Cybersecurity Disclosure

On February 21, 2018, the Securities and Exchange Commission (the “Commission”) published interpretive guidance to assist public companies when considering, drafting and issuing disclosure about cybersecurity risks and incidents (the “interpretive guidan ...

Resource Article - twallace@abiwor... - 03/13/2018 - 11:52 - 0 comments - 1 attachment

Cleary Gottlieb Launches Enforcement Watch Blog

Lev L. Dassin, a member of Cleary’s White-Collar Defense and Investigations practice group, said: “The past decade has seen a marked increase in the complexity and scope of cross-border enforcement and regulatory investigations, from the largest FCPA inv ...

Resource Article - twallace@abiwor... - 02/13/2018 - 11:36 - 0 comments - 0 attachments

The New DOJ FCPA Corporate Enforcement Policy Highlights the Continued Importance of Anti-Corruption Compliance

In a significant development for companies relating to the Foreign Corrupt Practices Act (FCPA), in late November the U.S. Department of Justice (DOJ) announced a new FCPA Corporate Enforcement Policy (the Enforcement Policy). Click here for more. ...

Resource Article - twallace@abiwor... - 02/13/2018 - 11:33 - 0 comments - 0 attachments

The Rise of BVI Special Purpose Acquisition Companies

There has recently been a resurgence of interest in special purpose acquisition companies (SPACs), which are also known as ‘blank check’ or ‘cash shell’ companies. Over the past 7 years SPACs incorporated in the British Virgin Islands (BVI) have raised a ...

Resource Article - twallace@abiwor... - 02/13/2018 - 11:32 - 0 comments - 0 attachments

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