Orrick Advises Westbrook on a Ground Lease with GWU to Renovate Mixed-Use Property in D.C.
| June.05.2018
Orrick’s West Coast real estate team advised Westbrook Partners on the long-term ground lease with George Washington University
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For over a century, we’ve acted for leading financial institutions at the forefront of innovation – from creating new financial products to resolving high-stakes litigation and compliance matters.
Client Results
Orrick Advises Harley Marine on Inaugural $455 Million Whole Business Securitization
| May.16.2018
Orrick has advised leading marine transportation company Harley Marine Services Inc. (HMS) on its inaugural securitization, a $455 million whole ...
Orrick Advises New “Unicorn” Revolut on $250 Million Series C Financing Round
| April.26.2018
Orrick has advised Revolut on its $250 million Series C financing round, bringing its post-money valuation to more than $1.7 billion.
Orrick Employment Trial Team Secures Defense Verdict For RBS
| March.26.2018
Orrick’s Employment Law & Litigation team today secured a complete defense verdict on behalf of client Royal Bank of Scotland (RBS) Securities after ...
Paris Team Advises DNCA on CGG’s $2.7 Billion Restructuring
| March.19.2018
Orrick's Paris restructuring team advised DNCA, one of the largest shareholders and bondholders of CGG SA, in its $2.7 billion restructuring.
Orrick Advises BNP Paribas on First Synthetic Securitisation Deal to Support French SMEs and Midcap Firms Under Juncker Plan
| February.27.2018
BNP Paribas, together with the European Investment Bank (EIB) and the European Investment Fund (EIF), which make up the EIB Group, have executed the ...
Orrick Continues to Advise Seadrill Partners on Restructuring Efforts
| February.16.2018
Seadrill Partners has reached an agreement with the majority of lenders on an amended Term Loan B credit agreement to waive the leverage covenant ...
Orrick Advises FINCA Impact Finance in Divestment of Microfinance Operations in Russia
| December.27.2017
Orrick advised U.S. impact finance company FINCA Impact Finance in the divestiture of its microfinance operations in Russia – the second largest in ...
Stripe and Goodwater Capital Lead $93 Million Investment in Monzo
| November.07.2017
Orrick advised both Stripe and Goodwater Capital on a $93 million Series D financing round in Monzo, a digital and mobile-only English bank.
Innovative Neighborhood Investment Program Helps Low-Income Residents Build Long-Term Wealth
| November.03.2017
Orrick’s impact finance team helped Mercy Corps Northwest launch its first Community Investment Trust (CIT).
Orrick Advises South African Resources Group Exxaro on U.S. Public Sale of Portion of Tronox Shares
| October.13.2017
Orrick advised South African resources company, Exxaro Resources Ltd., on its U.S. underwritten public offering of 22,425,000 Tronox Limited shares.
Orrick Team Leads Lily Robotics Through Final Stage of Novel Bankruptcy Case
| October.02.2017
Capping a unique bankruptcy proceeding involving a tech start-up, Orrick client Lily Robotics, Inc. went effective on Sept. 29 with a bankruptcy plan.
Orrick Navigates Ocean Rig Through Groundbreaking International Debt Restructuring
| September.26.2017
Orrick acted as lead counsel to Cayman Islands-based offshore drilling contractor Ocean Rig UDW in its comprehensive financial restructuring.
Orrick Advises DFIs on $120 Million Financing of Sainshand Wind Farm in Mongolia
| September.01.2017
A cross-border Orrick team of lawyers advised on the $120M debt and equity financing of a 54MW onshore wind farm in the Sainshand region, Mongolia.
Orrick Advises Betterment on $70 Million Financing Round
| August.01.2017
Orrick has advised New York-based Betterment, the largest independent algorithmic financial advising platform, on its latest round of financing.
Orrick Advises Deutsche Börse on Strategic Investment and Partnership with Trumid
| July.11.2017
Orrick advised Deutsche Börse Group in its strategic partnership with Trumid, a financial technology company.
Law360: Orrick Seals Tricky San Francisco Airport Hyatt Deal
| July.03.2017
Orrick has helped the city and county of San Francisco get to groundbreaking for a major public hotel project at San Francisco International Airport.
Orrick Advises LeapFrog on $180 Million Investment in Enterprise Group
| June.26.2017
Orrick advised LeapFrog Investments Group, a profit-with-purpose investor in emerging markets, on its $180M investment in Ghana's Enterprise Group.
Orrick Represents Underwriter in Axsome Therapeutics’ Follow-on Offering
| April.03.2017
Orrick advised Ladenburg Thalmann & Co. Inc., the underwriter and sole book-running manager, on the follow-on offering by Axsome Therapeutics.
Orrick Advises Prosper Marketplace in Up to $5 Billion Loan Purchase Transaction with Consortium of Investors
| February.28.2017
Orrick has advised leading online consumer lending marketplace, Prosper Marketplace, in a deal with a consortium of institutional investors to ...
Orrick Advises on First Tennessee Charter School Bond Financing
| February.28.2017
Orrick has advised bond issuers on a trio of bond financings, including Tennessee's first publicly offered charter school tax-exempt bond financing.
Orrick Advises Alecta in $1.7 Billion Portfolio Sale to Blackstone Group
| February.22.2017
Orrick has advised longtime client Swedish pension fund manager Alecta in the sale of 21 assets in the U.S. to Blackstone Group for $1.7 billion.
Orrick Assists in Debt Restructuring of South Africa's Largest Retailer
| February.06.2017
Orrick assisted GLAS Trust Corporation Limited in the restructuring of the debt of Edcon, South Africa’s largest retailer.
Edcon has been under ...
Orrick Advises Millicom on $600 Million Revolving Credit Facility
| February.01.2017
Orrick advised Millicom International Cellular on a $600 million syndicated revolving credit facility.
Orrick Advises The Climate Trust in Securing $5.5 Million Investment in Innovative Conservation Finance Fund
| November.29.2016
An Orrick team advised The Climate Trust in executing a milestone contract with the David and Lucile Packard Foundation – securing a $5.5 million ...
Orrick Advises Goldman Sachs and Calvert Foundation on the Nation’s First Environmental Impact Bond
| September.29.2016
Orrick has advised Goldman Sachs Urban Investment Group and the Calvert Foundation in their purchase of a $25M, tax-exempt Environmental Impact Bond.
Orrick Helps Rescue Italian Banks Through Work With Quaestio
| September.14.2016
Orrick’s Corporate team in Italy is helping to shore up Italy’s banking sector as legal coordinator to Quaestio Capital Management SGR.
American Realty Advisors Buys Google's Chicago Headquarters
| July.09.2016
Orrick represented American Realty Advisors in connection with the $257 million acquisition of Chicago’s 1K Fulton building, which serves as Google’s ...
Orrick Advises Japan-based Subordinated Second Lien Lenders in $3.4 Billion Sale-Leaseback Transaction for Sprint Corporation
| April.15.2016
Orrick represented the Japan-based subordinated second lien lenders in a $3.4 billion sale-leaseback transaction for Sprint Corporation.
Capzanine Partners With Eurazeo and AXA to Support SME Development in France
| January.20.2016
Orrick Rambaud Martel has advised on Eurazeo and AXA France’s joint capital investment into French investment fund Capzanine – an unprecedented ...
Orrick Advises USAA in $1.1 Billion JV Acquisition of Five Westfield Malls
| December.21.2015
On December 18, a joint venture comprising USAA Real Estate, Centennial Real Estate Company and Montgomery Street Partners, an affiliate of Blum ...
Orrick Advises on First-Time Use of Social Impact Bonds to Rehab Abandoned Properties
| December.02.2015
Orrick assisted pro bono clients the Richmond Community Foundation and the City of Richmond in California in the successful closure of a $3 million ...
Hines Acquires Office Tower in Paris La Défense
| December.02.2015
Orrick's Paris Finance team advised longtime client Hines on financing the acquisition of a 35,008-sq.m. office tower in Courbevoie, located on the ...
Orrick Represents Basin Electric in its First Global Private Placement
| July.09.2015
A cross-practice and office Orrick team recently
represented long-time client Basin Electric Power Cooperative (“Basin
Electric”), a wholesale ...
Orrick Advises Tokyu Land on Investment in Marquee Park Avenue Office Tower Development
| June.04.2015
Orrick (“Orrick”) advised the U.S. real estate subsidiary of Tokyu Land Corporation (“Tokyu”), one of the largest Japanese conglomerates, on its ...
Orrick Advises Cenkos Securities and Zeus Capital on £1 Billion Fundraising for Haversham Holdings plc
| March.26.2015
Haversham
Holdings will issue 685.7 million new Ordinary Shares at a price of 150 pence
per share, the proceeds of which will be used to fund the ...
Orrick Advises Ubisoft Entertainment in €200M German Private Placement
| March.16.2015
An Orrick team from Paris and Düsseldorf recently advised Ubisoft Entertainment in its successful placement of a €200 million “Schuldschein” loan, in ...
Orrick Advises Hackman Capital Partners Entities in Sale of Beats Headquarters in Culver City
| February.27.2015
Orrick, Herrington & Sutcliffe LLP (“Orrick”) recently closed the sale of a 126,800 square foot creative office space campus in Culver City, ...
Orrick Advises City of Stockton on Bankruptcy Exit
| February.25.2015
On October 30, 2014, Chief
Bankruptcy Judge Christopher Klein of the United States Bankruptcy Court for
the Eastern District of California in ...
Judge Approves Bankruptcy Exit for Stockton, California
| November.03.2014
On October 30th, Chief Bankruptcy Judge Christopher Klein of the United States Bankruptcy Court for the Eastern District of California in Sacramento ...
Orrick Advises Goldman on Unique Bridge Financing to Propel Transbay Transit Center Project Down the Track
| February.23.2015
A multi-practice Orrick team recently advised Goldman Sachs as lead arranger of an innovative, multi-lender $171 million term loan facility to ...
Orrick Assists in Acquisition of Iconic Culver Studios in West Los Angeles
| March.05.2014
Orrick’s Los Angeles Real Estate team assisted an investor syndicate sponsored by longtime client Hackman Capital Partners in the acquisition of the ...
Sberbank Organizes $2.94 Billion Financing for Yamal Development
| January.22.2014
Orrick has advised Sberbank, the largest bank in Russia and Eastern Europe, in connection with its $2.94 billion in acquisition financing to Yamal ...
Heitman Purchases Pacific Commons Shopping Center in Bay Area's Largest Retail Property Sale of 2013
| December.11.2013
Orrick has advised Chicago-based real estate firm Heitman Real Estate Securities in its purchase of the Pacific Commons Shopping Center to Catellus ...
Orrick Advises Iowa Fertilizer Company on $1.8 Billion Financing
| May.15.2013
Orrick has advised Iowa Fertilizer Company LLC, a subsidiary of OCI N.V., in the $1.8 billion financing of a new nitrogen fertilizer production plant ...
Orrick Advises Euro Disney Supervisory Board on €1.33 Billion Debt Refinancing
| October.17.2012
Orrick recently advised Euro Disney's supervisory board on the refinancing of €1.33 billion of debt. Euro Disney operates Disneyland Paris, Europe's ...
U.S. District Court Approves W. R. Grace Bankruptcy Plan of Reorganization and the Creation of a $3 Billion Trust
| February.05.2012
Washington, D.C. - Orrick’s restructuring team advised on the development of W.R. Grace’s reorganization plan, which was approved by the U.S. ...
Orrick Assists in Financing the Redevelopment of the World Trade Center
| November.17.2011
New York - A decade after the WTC tragedy, the construction of One WTC has become a symbol of the renewal of downtown Manhattan. Orrick's Public ...
Insights
BHS: A CVA Unwound
by Scott Morrison and Stephen Phillips | June.06.2018
The financial distress in the UK high street has brought with it a resurgence of the use of company voluntary arrangements (“CVAs”).
The International Comparative Legal Guide to: Securitisation 2018
by Hervé Touraine and Olivier Bernard | June.01.2018
Hervé Touraine and Olivier Bernard of Orrick's Paris team authored an overview of certain legal aspects of securitization in France in The ...
Minibond Private Placement – The Relevant Tax Regime Commented By The Italian Tax Authority
by Alessandro Mainardi, Giovanni Leoni and Camillo Melotti Caccia | May.31.2018
A legal & tax analysis authored by Alessandro Mainardi Giovanni Leoni and Camillo Melotti Caccia
Proposed California November 2018 Ballot Initiatives Would Require Supermajority Votes for Most Tax Increases
by Justin Cooper and Michael D. Arena | May.24.2018
In December 2017, two proposed state constitutional initiatives were submitted to the California Attorney General concerning the scope and approval ...
L'Agenzia delle Entrate commenta il regime fiscale del private placement di MiniBond non quotati
by Alessandro Mainardi, Giovanni Leoni and Camillo Melotti Caccia | May.16.2018
This alert, available in Italian, discusses the Revenue Agency's response to a request concerning the tax regime applicable to certain bond loans.
Orrick Paris Team Provides Overview of Trends in Restructuring & Insolvency
by Saam Golshani, Alexis Hojabr and Soleine Gautier | April.25.2018
Saam Golshani, Alexis Hojabr, Soleine Gautier and Léa Gredigui of Orrick’s Paris team analyzed the trends in restructuring and insolvency filings for ...
Jacqui Hatfield Authors Article on Fintech Action Plan for the EU
by Jacqui Hatfield | April.05.2018
Orrick’s Jacqui Hatfield has authored an article in Payments & FinTech Lawyer on the European Commission’s draft Fintech Action Plan for the EU.
Ransomware Attacks for Local Governments and Public Agencies: A Primer
by Marcus Deitz, Aravind Swaminathan and Amanda Stephens | April.03.2018
The recent ransomware attack on the City of Atlanta highlights the fact that the threat of ransomware affects all organizations, regardless of the ...
The Supreme Court Limits the Reach of Criminal Obstruction Charges under the Tax Law
by Amy Walsh, Peter Connors, Ben Aiken and Ashok Ayyar | March.30.2018
Last week, the Supreme Court in Marinello v. United States significantly limited the government's ability to prosecute taxpayers for allegedly ...
GAO Report Finds Regulators Could Take Further Steps to Better Protect Fintech Consumers
by Howard S. Altarescu | March.27.2018
In a report released March 22, 2018, the U.S. Government Accountability Office ("GAO") explained that existing laws and regulations may not be ...
Federal Court Sends Colorado's Case Against Online Lending Platform Back to State Court
by Robert Loeb, Howard S. Altarescu, Christopher J. Cariello and Ned Hirschfeld | March.13.2018
Colorado's ongoing challenge to the bank partnership model of online lending will next play out, at least in part, in state court.
SEC Statement on Potentially Unlawful Online Platforms for Trading Digital Assets
by Edward Eisert | March.13.2018
On March 7, 2018, the Divisions of Enforcement and Trading and Markets of the Securities and Exchange Commission released a "Statement on ...
U.S. Tax Reform Has a Profound Impact on Inbound Investment
| March.09.2018
The current focus of the international tax community is on the United States, and for good reason.
Jacqui Hatfield Explains What U.S. Regulators Could Learn from the UK on Fintech Innovation
by Jacqui Hatfield | March.09.2018
Jacqui Hatfield authored an opinion piece explaining what U.S. regulators could learn from the UK on innovation, especially in regards to fintech.
Bill Introduced to Create New U.S. Development Finance Agency
| March.06.2018
On February 28, 2018, a bipartisan bill was introduced in the U.S. Congress that would create a new, expanded U.S. development finance agency. The ...
Stephen Phillips Weighs in on How Brexit Could Change UK Insolvency Law
| February.21.2018
Stephen Phillips recently spoke with IFLR regarding the effect that Brexit could have on a century-old insolvency rule in the UK.
Debtwire European Distressed Debt Market Outlook 2018
| February.15.2018
The 2018 Debtwire European Distressed Debt Outlook report surveyed 100 distressed investors and 30 private equity funds to establish the outlook for ...
Jacqui Hatfield Discusses FCA Attitude Towards Robo-Advice
| February.07.2018
Orrick partner Jacqui Hatfield recently spoke with Payments & FinTech Lawyer on the Financial Conduct Authority and an automated online service.
Private Equity Fund Taxation Post-Tax Reform: What Really Changed?
by Barbara de Marigny, Peter Connors and John Narducci | January.31.2018
We discuss the most important provisions of the Tax Cuts and Jobs Act affecting private equity funds, their investors and their managers.
Tax Issues When Fixing Rate and Fee Adjusters in Tax-Exempt Loans
by Charles C. Cardall, Mayling Leong, Jenna Magan, Scott Schickli and Bryan Victor | January.25.2018
The recently enacted reduction of the maximum federal corporate tax rate may trigger contractual provisions that provide for a significant increase ...
More of an SRO - FINRA Unveils Its Priorities for 2018
by Daniel Nathan and Betsy (Colleen) Popken | January.11.2018
On January 8 FINRA published its Annual Regulatory and Examination Priorities Letter, which highlights key areas of focus for the coming year.
Recent Tax Legislation May Boost Impact Finance
by Howard S. Altarescu | January.09.2018
The U.S. Tax Cuts and Jobs Act (the "Act"), signed into law on December 22, 2017, creates a process to designate certain low-income community census ...
Orrick Partner Discusses Real Estate Trends to Watch in 2018
| January.01.2018
Orrick’s Michael Haworth recently spoke with Law360 about real estate trends to watch in 2018.
Tax Cuts and Jobs Act – Impact on Financing Transactions
| December.27.2017
The Tax Cuts and Jobs Act (the "Tax Act") was signed into law by President Trump on December 22, 2017.
International Provisions in U.S. Tax Reform - A Closer Look
by Peter Connors, John Narducci, Stephen Jackson, Barbara de Marigny and Michael Rodgers | December.22.2017
Tax Reform has been approved by Congress and was signed into law by President Trump.
Jacqui Hatfield Discusses Bitcoin Futures Trading With BBC World
| December.19.2017
Jacqui Hatfield spoke with BBC World’s Aaron Heslehurst about the regulatory and financial issues posed by Bitcoin futures trading.
Oregon Client Alert: Urgent – Action Needed to Preserve Private Activity Bonds
| December.05.2017
Maintaining the existing authority under the Code for private activity bonds (PABs) is vital to continuing public and private investments.
Autumn 2017: Budget period drama or zombie apocalypse?
| November.24.2017
Partner Ed Denny is quoted as a leading tax practitioner regarding his views on the Autumn 2017 Budget.
California Affordable Housing Authority Bill Signed Into Law
by Justin Cooper and Parsa Ansari | November.21.2017
AB 1598 authorizes cities and counties to create new affordable housing authorities for the purpose of financing low- and moderate-income housing.
Restructuring and Insolvency in the UK Retail Sector
by Stephen Phillips and Scott Morrison | November.15.2017
The political and economic landscape in the UK has changed drastically over the past 18 months. Political uncertainty over Brexit, rising inflation ...
The International Tax Impact of the 2017 Tax Cuts and Jobs Act
by Peter Connors, John Narducci, Stephen Jackson and Michael Rodgers | November.13.2017
The “Tax Cuts and Jobs Act of 2017”, if passed, would arguably represent the biggest change to the tax landscape in three decades.
The Impact on U.S. Corporations if the House’s “Tax Cuts and Jobs Act” Passes
by Grady Bolding, Peter Connors, James Larkin, Stephen Lessard, Steven Malvey, John Narducci and Eric Wall | November.13.2017
The Tax Cuts and Jobs Act, if passed, would make fundamental changes in the taxation of U.S. corporations.
The Impact on Financing Transactions if the House’s “Tax Cuts and Jobs Act” Passes
by Stephen Jackson, John Narducci and James Larkin | November.09.2017
The Tax Cuts and Jobs Act, if passed, would make certain fundamental changes to the taxation of financing transactions.
Summary of State and Local Government Bond Provisions in the Tax Cuts and Jobs Act
by John Stanley, Richard Chirls, Charles C. Cardall and Larry Sobel | November.03.2017
On November 2, 2017, the Republican leadership of the United States House of Representatives introduced the Tax Cuts and Jobs Act.
California Storm Water Bill Signed Into Law
by Justin Cooper and Brandon Dias | October.25.2017
SB 231 aims to give local governments with more flexibility for fees and charges for collection, treatment and disposal of surface or storm waters.
Second Circuit Overturns Ruling on Cram-Down Interest Rates in Momentive
| October.24.2017
Adopts Sixth Circuit Test for Selecting Interest Rate Affirms District and Bankruptcy Court Determinations Regarding Senior Debt Status and ...
SEC No-Action Letter Regarding Investments in Credit Risk Transfer Securities
by Howard S. Altarescu and Elizabeth J. Elias | October.20.2017
On October 16, the SEC Division of Investment Management granted no-action relief in response to a request by Orrick on behalf of Redwood Trust.
New California Law Imposes Additional Disclosure Requirements for Local Government Bonds
by Donald Field and Jenna Magan | October.11.2017
Local government issuers of bonds and any conduit borrowers of the proceeds of such bonds need to be aware of California Senate Bill 450 (Hertzberg).
France Welcomes Foreign and Alternative Capital Providers with Latest Reform of Finance Sector
by Hervé Touraine and Olivier Bernard | October.09.2017
Long a cornerstone of the French banking system, the "French banking monopoly" largely prevents non-bank entities from lending money to French ...
The Online Lending Policy Summit Recap
by Robert Loeb and Howard S. Altarescu | September.27.2017
Highlights from the second annual Online Lending Policy Institute (OLPI) Online Lending Policy Summit held September 25 in Washington, D.C.
SEC Continues Public Finance Enforcement Agenda – Two Recent Cases Filed
by Robert Feyer, Roger Davis and Alison Radecki | September.26.2017
Just in the last weeks of August, the Public Finance Abuse Unit of the SEC announced settlements of securities fraud actions in two cases.
Conduit Financing With Tax-Exempt Bonds
by Justin Cooper | September.01.2017
The purpose of this pamphlet is to assist conduit issuers in identifying issues and setting up policies and procedures related to their tax-exempt ...
IRS Focuses on Tax-Exempt Financings Involving Developers
by Larry Sobel, Charles C. Cardall, Marcus Deitz, Richard Chirls, Kathryn V. Garner, Edwin Oswald, Todd Brewer, Roger Davis and Justin Cooper | August.23.2017
For a number of years, the IRS Office of Tax-Exempt Bonds ("TEB") has expressed concerns about potential tax abuses that may exist in what it has ...
Webinar: Recent Developments in Pension Obligation Bonds
by Jenna Magan, Roger Davis and Patricia L. Eichar | August.16.2017
This webinar from Orrick and The Bond Buyer looks at increases in unfunded pension liabilities, a widespread problem affecting many public entities.
EBA Publishes Discussion Paper on Approach to Fintech
| August.08.2017
On August 4, 2017, the European Banking Authority ("EBA") published its discussion paper (EBA/DP/2017/02) on its approach to fintech. During the ...
European NPLs Market
by Patrizio Messina, Gianrico Giannesi, Annalisa Dentoni-Litta and Madeleine Horrocks | August.04.2017
This booklet provides an updated framework of the European NPLs market, with the last provisions, related papers and observations of our lawyers.
CFPB Issues Final Arbitration Rule – Who Is Covered and How Does It Affect Your Business?
by Barrie VanBrackle and Howard S. Altarescu | July.24.2017
The CFPB, after entertaining numerous comments, issued its final arbitration rule on Monday, July 10. Orrick partners offer key takeaways of the rule.
European Union (Withdrawal) Bill Received First Reading in Parliament
by Max Iles | July.17.2017
The European Union (Withdrawal) Bill (the "Repeal Bill"), which will end the supremacy of EU law in the UK by repealing the European Communities ...
Recast EU Insolvency Regulation Comes Into Force
by Stephen Phillips, Scott Morrison and Siobhan Sheridan | June.27.2017
On 26 June 2017 the Recast EU Insolvency Regulation (Council Regulation (EC) No. 2015/848) came into force.
The Breakdown of a Real Estate Joint Venture: Negotiating Divorce During Courtship
by Marshall Brozost | June.26.2017
Negotiations concerning the collapse of real estate joint ventures are among the most vexing, contentious and emotional.
Successful Investing in Charter Schools Part III - Market Advancements
by Todd Brewer and Eugene Clark-Herrera | June.07.2017
This webinar, from Orrick and The Bond Buyer, examines the expanding array of financial tools used by charter schools to address facilities needs.
Rising to the Challenge of Growth Capital Equity Investment in the World’s Poorest Countries – A New Model
by Peter O'Driscoll | May.30.2017
Peter O'Driscoll examines the challenges of aggregation and deployment of growth capital equity in the world’s poorest countries.
Outline for Discussion of New Issue Price Rules
| May.24.2017
New tax rules relating to establishing the issue price of publicly offered tax-exempt bonds become effective soon.
South Africa’s Junk Status Downgrade - The Impact
by Rajen Ranchhoojee | May.12.2017
On 3 April, 2017, S&P Global led the way in downgrading South Africa’s Sovereign Credit Rating to non-investment-grade ‘Junk’ status.
OCC to Move Forward with Considering Fintech Charter Applications
by Howard S. Altarescu, Jeremy Kudon, Robert Loeb and Christopher J. Cariello | May.11.2017
The OCC announcement to move forward considering fintech charter applications has potentially significant industry, policy & practical implications.
Association of State Regulators Sues to Enjoin OCC's Fintech Special-Purpose National Bank Charters
by Robert Loeb, Howard S. Altarescu, Christopher J. Cariello and Ned Hirschfeld | May.03.2017
A group of state regulators, the Conference of State Bank Supervisors ("CSBS"), filed suit in the U.S. District Court for the District of Columbia.
SEC Brings Post-MCDC Enforcement Actions Against Underwriter and Officials
by Robert Feyer and George Greer | April.24.2017
Two recent SEC orders are the first post-MCDC cases finding violations based on official statements regarding compliance with previous CDUs.
Banks Seek Judgment That Loans Facilitated By Online Platforms Are Exempt From Colorado's Lending Laws
by Robert Loeb, Howard S. Altarescu, Christopher J. Cariello and Ned Hirschfeld | April.07.2017
WebBank and Cross River Bank have filed separate federal court actions against the Administrator of Colorado's Uniform Consumer Credit Code.
Comptroller of the Currency Tom Curry Discusses Fintech Charters
by Howard S. Altarescu and Robert Loeb | March.07.2017
At the LendIt Conference in New York, Comptroller of the Currency Tom Curry discussed special purpose national bank charters for fintech companies.
CFTC Indicates Willingness to Help Incubate Fintech
by Nikiforos Mathews | February.22.2017
J. Christopher Giancarlo, the acting chairman of the CFTC, has diverged from other U.S. federal regulators, signaling he favors “regulatory ...
Regulation D Battlefield Heating Up as Acting Chairman Piwowar Suggests Doing Away with Concept of Accredited Investors
by Christopher Austin and Robert Stern | March.03.2017
On the same day that President Trump signed an Executive Order instructing federal agencies to create task forces designed to identify regulations ...
Debtwire European Distressed Debt Market Outlook 2017
| February.02.2017
The 2017 Debtwire European Distressed Debt Outlook report surveyed 100 distressed investors and 30 private equity funds to establish the outlook for ...
IRS Releases New Regulations Regarding Dividend Equivalents
by Peter Connors, Stephen Lessard and Michael Rodgers | February.01.2017
The IRS has issued final, temporary, and proposed regulations under section 871(m) of the Internal Revenue Code of 1986, as amended.
Class Action Against Lending Club and WebBank Headed to Defeat
by Robert Loeb, Christopher J. Cariello and Ned Hirschfeld | January.31.2017
A federal district court in New York granted a motion to compel arbitration in a class action raising important issues for the fintech industry.
Out-Of-Court Restructuring After Marblegate
by Evan C. Hollander and Monica Perrigino | January.26.2017
Evan Hollander and Monica Perrigino of Orrick’s Restructuring team co-authored an article for Law360 that examines the implications of the Second ...
Student Housing: Comparing Options for Tax Exempt Financing
by Charles C. Cardall, John Wang and Roger Davis | January.09.2017
Designed for use by colleges & universities, developers, underwriters, direct purchase lenders and others involved in financing student housing.
Orrick’s Marc Levinson Compares Chapter 9 to Chapter 11 for the Federal Judicial Center Website
| January.06.2017
Orrick Restructuring Senior Counsel Marc Levinson is one of the chapter 9 experts assisting in the preparation of a chapter 9 manual for bankruptcy ...
Amendments to California PACE Financing Statutes Become Effective January, 1 2017
by Brandon Dias | December.19.2016
Certain amendments to California's statutory schemes for authorizing Property Assessed Clean Energy (PACE) financing programs will become effective.
IRS Releases Transition Guidance for the Dividend Equivalent Rules
by Peter Connors, Stephen Lessard and Michael Rodgers | December.12.2016
IRS Notice 2016-76 provides highly anticipated guidance regarding “dividend equivalent” payments under section 871(m) of the Internal Revenue Code.
National Bank Charters for Fintech Companies
| December.09.2016
"Technology-based products and services are the future of banking and the economy," said Comptroller of the Currency Thomas J. Curry on December 2.
Orrick’s Marc Levinson Publishes Chapter 11 v. Chapter 9 Checklist in Practical Law
by Marc Levinson | November.29.2016
The Chart examines, among other crucial issues, commencement of the case, eligibility requirements, case administration, preference actions and plans.
Jeffrey Sun Discusses China's Increased Scrutiny of Outbound Investment
| November.29.2016
Jie Jeffrey Sun, a corporate partner in Orrick’s Shanghai and Beijing offices, recently spoke with the South China Morning Post and The New York ...
Jonathan Lopez Discusses the Future of Financial Crime Enforcement Under Trump
| November.16.2016
Jonathan Lopez, a litigation partner in Orrick’s Washington, D.C. office who previously served as an inaugural Deputy Chief of the Department of ...
Orrick Partner Authors Article on CFPB's Final Rule
by Barrie VanBrackle | November.15.2016
Barrie VanBrackle authored an article discussing key aspects of the U.S. Consumer Financial Protection Bureau's (CFPB) final rule on prepaid cards.
The Final §385 Regulations (Part I) - Classifying Interests in a Corporation
by Peter Connors, Barbara de Marigny and Michael Rodgers | November.10.2016
On October 13, 2016, the IRS and Treasury Department issued much anticipated regulations (the “Final” or “Temporary” Regulations) under Internal ...
California Debt Limit Allocation Committee Releases Proposed Regulations
by Paul A. Toland and Justin Cooper | October.19.2016
About some of the more significant changes that could affect issuers and borrowers in connection with awards of volume cap under proposed regulations.
Orrick Lawyers Author Article on Chapter 9 Filings
by John Knox and Marc Levinson | October.19.2016
Orrick's John Knox and Marc Levinson authored an article for Thomson Reuters' Practical Law on how to avoid a Chapter 9 filing.
U.S. Sixth Circuit Holds that Customary Language in Amendment and Restatement Agreements May Extinguish Existing Security Interests via Novation
by B. J. Rosen and David Y. Lin | October.14.2016
On August 23, 2016, the U.S. Court of Appeals for the Sixth Circuit held in the Chapter 7 bankruptcy case In re Fair Finance Company that an ...
D.C. Circuit Strikes Down CFPB Leadership Structure
by Kelsi Corkran, Robert Loeb, Robert Stern and Howard S. Altarescu | October.12.2016
The D.C. Circuit in PHH Corporation v. CFPB No. 15-1177 ruled the Consumer Financial Protection Bureau's (CFPB) leadership structure unconstitutional.
Tax Benefit from Leveraged Partnerships Shut Down By New IRS Regulations
by Peter Connors and Barbara de Marigny | October.10.2016
On October 5, 2016, the IRS and Treasury released a package of new regulations under Code sections 707 and 752 designed to curtail the use of debt to ...
CFTC Seeks Public Comment on Proposed Whistleblower Rule Amendments
by Elizabeth J. Elias | September.13.2016
On September 1, 2016, the U.S. Commodity Futures Trading Commission (“CFTC”) announced that it is “requesting public comment on proposed amendments ...
Arguing that CashCall was the "True Lender", CFPB Successfully Challenges High Interest Loan Program
by Howard S. Altarescu, Robert Loeb and Christopher J. Cariello | September.08.2016
On August 31, a federal district court in California ruled in favor of the U.S. Consumer Financial Protection Bureau (CFPB) on the application of ...
Italian State Guarantee for NPL Securitisations: Implementing Decree is Approved
| August.31.2016
In this Alert we describe the main provisions contained in the new Implementing Decree of the Ministry of Economy and Finance for State guarantees ...
English Law Schemes of Arrangement: Class Composition
by Stephen Phillips and Scott Morrison | August.24.2016
Having received the sanction of antitrust regulators in Europe, the U.S., China and South Africa, the planned merger of brewing giants AB InBev and ...
Congress Introduces Bill to Make “Valid When Made” the Law of the Land
by Howard S. Altarescu, Robert Loeb and Christopher J. Cariello | August.20.2016
Chief Deputy Whip Patrick McHenry (R, NC-10), the Vice Chairman of the House Financial Services Committee, introduced H.R. 5724, the Protecting ...
Selected Risk Retention Questions and Answers for CMBS Securitizations
| August.16.2016
INTRODUCTION
On October 22, 2014, the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Federal ...
ALJs are A-OK: D.C. Circuit Upholds Constitutionality of SEC In-House Courts
by Paul F. Rugani | August.12.2016
In several recent decisions we have covered (here and here), Federal Circuit Courts have unanimously ruled that respondents in an SEC enforcement ...
The Impact of PROMESA on Creditors
by Lorraine McGowen | August.10.2016
On June 30, 2016, the United States Senate passed the “Puerto Rico Oversight, Management and Economic Stability Act” (“PROMESA”) and it was quickly ...
California Health Care District Financing Techniques
by Jenna Magan and Donald Field | July.27.2016
Across the nation, the delivery of health care services is undergoing a period of transformation. Much of this change is being driven by The ...
Supreme Court to Resolve Circuit Split Over Structured Dismissals
by Douglas S. Mintz, Robert Loeb and Monica Perrigino | July.26.2016
The Supreme Court again will be addressing the powers of bankruptcy courts. At the end of the term, the Court granted certiorari in Czyzewski v. ...
Proposed Regulations Under §385 Classifying Interests in a Corporation
by Peter Connors, Barbara de Marigny and Michael Rodgers | July.13.2016
On April 4, 2016, the Internal Revenue Service and U.S. Treasury Department issued proposed regulations designed to curb the ability of large ...
Not So Fast Supreme Court Holds Prepetition Fraudulent Transfer Precludes PostPetition Discharge in
by Raniero D'Aversa, Douglas S. Mintz, Robert Loeb, Kelsi Corkran, Amy Pasacreta and Monica Perrigino | May.25.2016
One of the goals of the Bankruptcy Code is to provide a debtor with a fresh start. The discharge of prepetition debts at the conclusion of a ...
Orrick Partners Publish Opinion Piece on Oil Industry's Debt Issues
by Stephen Phillips and Raniero D'Aversa | May.16.2016
Orrick partners Stephen Phillips and Ron D'Aversa published an opinion piece, "Lower For Longer", regarding oil industry debt issues.
Tax Law Update - IRS Issues Proposed Regulations That Would Recast Certain Debt Instruments as Equity
by Peter Connors | April.28.2016
On April 4, 2016, the IRS and U.S. Treasury Department issued proposed regulations which are designed to attack corporate "earnings stripping" ...
Sales Tax Revenue Bonds Provide Critically Needed Transportation Funding Source
by Jenna Magan and Devin Brennan | April.26.2016
Funding transportation infrastructure in California is becoming increasingly difficult, as diminished gasoline taxes and other state and federal ...
Novo Banco and CDS A PostMortem
by Nikiforos Mathews and Jonas Robison | April.22.2016
In 2014, the International Swaps and Derivatives Association, Inc. (“ISDA”), published the 2014 ISDA Credit Derivatives Definitions (the ...
The Federal Housing Finance Agency Releases Final Rule on Federal Home Loan Bank Membership
by Howard S. Altarescu, Robert Loeb and SueAnn Yue | January.20.2016
On January 12, 2016, the Federal Housing Finance Agency (“FHFA”) issued a final rule establishing new requirements for membership in the Federal Home ...
News
Ocwen Named ACC Value Champion for Innovative Collaboration with Orrick and Others
| May.31.2018
Congratulations to Ocwen Financial Corporation on being honored for innovation by the Association of Corporate Counsel.
M&A Advisor Recognizes Orrick with Two Awards for Ocean Rig Restructuring
| May.16.2018
M&A Advisor commended Orrick in its 2018 International M&A Award series, recognizing its work on the restructuring of offshore drilling contractor ...
Orrick Welcomes Project Finance Lawyer Yacouba Coulibaly in Abidjan
| April.30.2018
Orrick announced today that Yacouba Coulibaly has joined Orrick-RCI, our Ivory Coast affiliate, as a partner.
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