May 17, 2018

Michael Emanuel featured in “Former Investment Management GC and CCO Joins Stroock As Partner in New York”

The Hedge Fund Law Report | Michael Emanuel, a partner in Stroock’s Private Funds Group, was featured in a Hedge Fund Law Report article that discusses Mr. Emanuel joining the firm. (subscription required)


Join us on PLI's webcast "CFIUS in a Time of Change: How Investors and Counsel Must Adapt to a Changing Environment for Foreign Investment Reviews"

On this one-hour briefing, special counsels Christopher Brewster and Anne Salladin will review pending legislation that would greatly expand CFIUS’s authority, extending review to lease transactions and certain technology transfers, impose filing fees for the first time, and promote the sharing of information with foreign review panels. They will also discuss common pitfalls that can frustrate CFIUS reviews and offer formulas for success.

This webcast is ideal for in-house counsel, outside attorneys, board members, corporate officers, and other allied professionals involved in M&A transactions and have basic understanding of the CFIUS process.

  • June 14, 2018 - PLI's CFIUS in a Time of Change: How Investors and Counsel Must Adapt to a Changing Environment for Foreign Investment Reviews
    Read More
  • June 25-26, 2018 - PLI's 23rd Annual Consumer Financial Services Institute
    Read More
  • December 17, 2018 - PLI's Nuts and Bolts of Corporate Bankruptcy 2018
    Read More

    “Rethinking BDC Leverage Post-Rating Agency Guidance”

    On March 23, 2018, President Trump signed the Consolidated Appropriations Act of 2018, which included the Small Business Credit Availability Act (the “SBCAA”). The SBCAA was, at the time, a material “win” for BDCs.

    Pursuant to the SBCAA, business development companies or “BDCs” have the ability to elect for more lenient asset coverage requirements, thereby increasing their ability to take on more leverage for purposes of making investments.

    While it seems that many BDCs have quickly sought (or are seeking) approval of the reduced asset coverage requirement, there are some BDCs that are rethinking their original position given the viewpoint shared by the ratings agencies.

    This Stroock Special Bulletin examines the impact of the SBCAA and the new asset coverage requirements on BDCs and the market.

  • May 2018 | FOR THE DEFENSE

    “Where They've Been and Where They're Going: Secondary Payer Lawsuits Involving Medicare Advantage Organizations”

    Now that approximately 19 million Medicare beneficiaries (or 33 percent) are using Medicare Advantage Plans (MA Plans) to deliver their Medicare benefits, the certainty that tort liability settlements generally brought liability insurers in decades past has waned. The Medicare Secondary Payer Act (the MSP Act), codified in 42 U.S.C. §1395y(b), is the reason for this change.

    The MSP Act prohibits Medicare from paying medical expenses when another payer is responsible for the payment. Based on recent developments in the law, courts have authorized Medicare Advantage organizations (MAOs)—private sector managed care organizations that contract with the U.S.

    government to provide MA Plans to Medicare beneficiaries—to transform these once-settled tort liability claims into new actions that seek not just reimbursement for paid-out medical expenses, but also an award of double damages.

    A liability insurer that settled and paid a claim once now is potentially liable for paying the same claim again—two more times, years later.


    Mayor de Blasio Signs “Stop Sexual Harassment in NYC Act”

    On May 9, 2018, Mayor Bill de Blasio signed the Stop Sexual Harassment in NYC Act—11 bills that address sexual harassment in the workplace. The Act expands sexual harassment protections under the New York City Human Rights Law, including requiring annual anti-sexual harassment training and distributing information about sexual harassment to employees.

    This Stroock Special Bulletin examines provisions that will impact all private employers throughout New York City.