Partner Gillian Emmett Moldowan (New York-Compensation, Governance & ERISA) co-authored an article titled “The Shifting Winds of Clawbacks” in Workspan Magazine.

Partner Antonia Stolper (New York- Capital Markets) was quoted in a Latin Lawyer article called “Latin Lawyer capital markets league table 2018.”

The Internal Revenue Service (“IRS”) issued Revenue Procedure 2019-18 that provides a safe harbor provision for professional sports teams that allows a team to treat the value of a traded player, draft pick, or staff members, such as coaches and managers, as zero effective for personnel trades after April 10, 2019. According to the IRS, the rules avoid “highly subjective, complex, lengthy, and expensive disputes between professional sports teams and the IRS.”

On March 6, 2019, the International Swaps and Derivatives Association (ISDA) published proposed amendments to the 2014 ISDA Credit Derivatives Definitions relating to so-called narrowly tailored credit events (NTCEs). ISDA describes an NTCE as an arrangement with a corporation which causes a credit event that results in settlement of CDS contracts while having minimal impact on the corporation, although its proposed amendments relate only to “Failure To Pay” credit events. The amendments would, if adopted and when applicable to relevant credit derivatives transactions, require a subjective determination that a failure to pay credit event resulted from or resulted in a deterioration in the creditworthiness or financial condition of the reference entity. This requirement would mark a significant departure from current practice. If adopted, it is expected that market participants will use the amended definition for new CDS contracts and that, in due course, a market protocol will provide market participants the opportunity to apply the amended definition to existing credit derivative transactions.

On February 25, 2019, the United States Court of Appeals for the Second Circuit issued a decision holding that a trustee is not barred by either the presumption against extraterritoriality or by international comity principles from recovering property from a foreign subsequent transferee that received the property from a foreign initial transferee.

Partner Kris Ferranti (New York- Real Estate) was interviewed on AM 880’s Fried on Business show, where he discussed how blockchain and the tokenization of real estate assets can add value and efficiency to real estate transactions.

The EU proposals to amend technical aspects of the European Market Infrastructure Regulation (EMIR), known colloquially as 'EMIR 2.1' or 'EMIR Refit' have been politically agreed. The final text is likely to be published in the Official Journal of the European Union in April or May this year. Subject to a few exceptions, the changes will apply directly in all EU member states 20 days from that publication date.

Partner Alexandro Padrés (New York-Project Development & Finance) was quoted in an Inframation article titled “Energy Outlook: Mexico’s AMLO Makes an Abrupt Invitation.” Mexico’s new administration has announced it intends to review and renegotiate existing pipeline concessions, prohibit the future tender of energy and power transmission assets as public-private partnerships and has canceled the country’s fourth renewable capacity tender. In this article, Alexandro offers his thoughts on the potential ramifications of these announcements.

Partner Ben Gris and associate Mark G. Weiss (both Washington, D.C. – Antitrust) authored an article in The M&A Lawyer titled “The FTC’s Consent Decree in the Staples/Essendant Deal Sets the Playing Field for the New Commission’s Split on Antitrust Enforcement.” The article notes that the length and depth of the review shows that the FTC is quite active and thorough, even when investigating vertical deals.

Global Managing Partner Adam Hakki was quoted in Law360’s article on his insights around the year-old Cyan ruling affirming state courts have jurisdiction over certain securities class actions.