PrintPublications
On January 11, 2012, the Commodity Futures Trading Commission (CFTC) announced final rules regarding the segregation and limited use of collateral posted by market participants as margin for cleared swaps.
The memorandum by Richards Kibbe & Orbe LLP partners Eva Marie Carney, Michael D. Mann and Scott C. Budlong entitled "Deconstructing WaMu: Managing Insider Trading Risks as an Ad Hoc Committee Member” has been selected and published as a Law360 expert analysis piece.
The recent, unexpected rejection by a U.S. Bankruptcy Court of the modified plan of reorganization of Washington Mutual, Inc. on the ground of a “colorable claim” of insider trading has raised questions about the standards of conduct for members of ad hoc creditors committees during corporate reorganizations.
An article by Richards Kibbe & Orbe LLP partner Craig A. Newman entitled "Is Crowdfunding the Next Big Thing or an Invitation to Digital Fraud?" was published by...
An article by Richards Kibbe & Orbe LLP partner Craig A. Newman entitled "Tribune suits put public liability on trial" was published in the Financial Times. In the article, Mr. Newman discussed...
Richards Kibbe & Orbe LLP partner Brian S. Fraser co-authored a Thomson Reuter's Aspatore Special Report entitled "The Emergence of State and Municipal Bankruptcies." In the chapter "The Prospect of Municipal or State Defaults on Bond Obligations: Can Bankruptcy Help?" Mr. Fraser observes...
Trading loans backed by commercial real estate may present an attractive investment for hands-on managers familiar with real estate collateral, but there are abundant traps for the unwary loan trader. In this memorandum, Richards Kibbe & Orbe LLP partners...
In the current climate of expansive government interpretations of anti-bribery laws, managing the risks inherent in dealing with foreign officials have become particularly important for managers of hedge funds and private equity funds...
Since the beginning of the European financial crisis, Richards Kibbe & Orbe LLP has been working with counsel in Spain, Italy, Ireland, Greece and Portugal, among other jurisdictions, to ensure our trading clients receive the broad perspective and tailored guidance they require. This memorandum provides...
"Proposed SEC Rules on Uniform Fiduciary Standard Expected Soon," authored by Richards Kibbe & Orbe LLP partner Arthur S. Greenspan, published in the...
"The Implications of the Dodd-Frank Whistleblower Provisions and Recent Decisions and Enforcement Initiatives for FCPA Compliance" authored by Richards Kibbe & Orbe LLP partner James Q. Walker was...
An article by Richards Kibbe & Orbe LLP attorneys William P. Barry and Audrey L. Ingram, entitled "Strong Medicine: FCPA Compliance for Pharmaceutical Companies," was published in...
An article by Richards Kibbe & Orbe LLP partner Brian S. Fraser, entitled "Municipal Securities Rulemaking Board Notice Raises Questions Whether Certain Loans to Municipal Governments are Securities," was...
The LSTA's newly-released (effective September 9, 2011) Standard Terms and Conditions for Distressed Trade Confirmations contain a new and powerful set of provisions that, under certain circumstances, permit a party to terminate its obligations under an open trade confirmation for distressed bank loans if its counterparty fails to perform its settlement delivery obligations in a timely fashion.
A recent notice by the Municipal Securities Rulemaking Board suggests the possibility that certain types of "loans" by banks to municipalities should be treated as securities under the federal securities laws. In this memorandum...
As Municipal Securities Market Grows, Increased Regulation is Needed” authored by Richards Kibbe & Orbe LLP partner Brian S. Fraser was featured in the New York Law Journal.
On July 26, 2011, the SEC adopted Rule 13h-1 under the Securities Exchange Act. The rule and its companion Form 13H introduce a reporting system for investors whose transactions in U.S.-listed stocks and options reach...
As the deadline for SEC registration of previously-exempt advisers approaches, it is critical for registering advisers to understand that adopting a set of compliance policies and procedures...
An article published by Richards Kibbe & Orbe LLP partners Julia Lu and Eva Marie Carney titled "Proposed anti-fraud and anti-manipulation regimes for loan derivatives products" was...
In this memorandum, Richards Kibbe & Orbe LLP attorney Neil S. Binder discusses a dispute currently pending in federal district court between Lehman and one of its...
"Clamping Down on Kleptocrats," authored by William P. Barry and Sarah P. Swanz was featured in the June issue of Risk Management magazine. The article discusses recent political unrest in the Middle East and North Africa...
"Buying a Majority Interest in a Hedge Fund Manager: An Acquirer's Primer on Key Structuring and Negotiating Issues," authored by Richards Kibbe & Orbe LLP partners Scott C. Budlong, Eva Marie Carney, Thao H.V. Do, Eric M. O'Meara, William Q. Orbe and Kenneth E. Werner, was published...
"Lehman Strikes Again: European Loan Participations and Preference Risks," by Richards Kibbe & Orbe LLP partners Carl Winkworth and Joon P. Hong, was published in International Corporate Rescue magazine. In this article, Mr. Winkworth and Mr. Hong describe...
An article by Richards Kibbe & Orbe LLP partner Craig A. Newman, entitled "Why Law and Journalism Schools Need to Work Together," appeared in the May 2011 issue of the Columbia Journalism Review. The article focuses on...
"'DBSD': Has Confirming a Plan Become More Difficult?" authored by Richards Kibbe & Orbe LLP attorneys Michael Friedman and Keith N. Sambur was published in GC New York. The article explores...
The Financial Times features article "Fund managers: Prepare for Bribery Act" written by Richards Kibbe & Orbe LLP partners Carl Winkworth (London) and William P. Barry (Washington D.C.). The article identifies...
This memorandum provides a further update to our December 23, 2009 and June 17, 2010 client alerts in which we described proposed amendments to Bankruptcy Rule 2019 which would have required members of ad hoc groups to disclose...
A number of recent and controversial decisions issued by prominent courts have changed the restructuring landscape for all constituents, most acutely for secured lenders. Based on these decisions, we have...
A group of Lehman creditors holding large claims arising from terminated derivatives transactions filed a competing plan of reorganization in the Lehman bankruptcy proceedings. As a result, there are now three competing plans...
"Material Non-Public Information in the Secondary Loan Market after Dodd-Frank," authored by Richards Kibbe & Orbe LLP partners Jon Kibbe and Michael Mann was published in the LSTA 2011 Loan Market Chronicle. In the article, Mr. Kibbe and Mr. Mann (i) describe the current legal framework...
"Secured Lender Review: Seven Cautionary Rules," authored by Richards Kibbe & Orbe LLP attorney Keith N. Sambur, was published as a two-part series on April 4 and April 11, 2011 by Law360. In this series...
On March 17, the SEC proposed to retain, at least temporarily, the current beneficial ownership rules under Section 13 of the Exchange Act as they relate to security-based swaps. In this memorandum...
"A Loan Trader's Guide to Reorganization Equity," authored by Richards Kibbe & Orbe LLP partners Thao Do, Scott Budlong and Julia Lu, was published by Law360. In this article, Ms. Do, Mr. Budlong and Ms. Lu describe...
"Hedge funds and the UK Bribery Act" authored by Richards Kibbe & Orbe LLP partners Carl Winkworth and William P. Barry was published by Hedgeweek and also by Private Equity Wire. In this article...
"Expanded Supervisory Liability for In-House Lawyers" authored by Richards Kibbe & Orbe LLP attorneys James Q. Walker, Daniel C. Zinman and Grant Mogan was published in the New York Law Journal. The article describes...
"Now You Have a Security, Now You Don't - Antifraud and Anti-Manipulation Regimes for Loan Derivatives Products Under Dodd-Frank," by Richards Kibbe & Orbe LLP partners Julia Lu and Eva Marie Carney, was published in the March 2011 issue of the Futures & Derivatives Law Report. This article highlights...
The trading rules and conventions of the loan market are well known to its participants. Similarly, the laws and practices governing equity securities trading are quite familiar to securities market professionals. The opportunity for confusion may arise, however, when these two...
In this memorandum, Richards Kibbe & Orbe LLP attorneys Michael Friedman and Keith N. Sambur discuss the decision of the Second Circuit Court of Appeals in connection with the chapter 11 case of DBSD North America, Inc. ("DBSD"). The Second Circuit's opinion...