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January 2013
As published by American Bankers Association Trust Letter in January 2013.
Settlement of collection disputes over amounts and payment terms for bond-related claims, including in bankruptcy cases, involves issues of binding minority bondholders and releasing the indenture trustee, as well as straightforward determinations of collectability economics.
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October 4, 2012
Settlement of collection disputes over amounts and payment terms for bond-related claims, including in bankruptcy cases, involves issues of binding minority bondholders and releasing the indenture trustee, as well as straightforward determinations of collectability economics. Bondholders unhappy with a proposed settlement can be bound nevertheless when the deal is incorporated into a bankruptcy plan of reorganization and majority bondholders out-vote them, but only if certain requirements are met.
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September 10, 2012
On August 29, 2012, the Securities and Exchange Commission (“SEC”) released proposed rules for eliminating the prohibition against general solicitation and general advertising in offerings of securities under Rule 506. Congress previously required the SEC to issue these proposed rules as part of the Jumpstart Our Business Startups Act (the “JOBS Act”), which was signed into law on April 5, 2012.
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April 6, 2012
President Obama recently signed the Jumpstart Our Business Startups Act (the “JOBS Act” or the “Act”). The signed Act is largely unchanged from its original House version, which passed overwhelmingly through the House by a massive 390-23 margin, and similarly passed through the Senate by a 73-26 margin with only one amendment.
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December 2009
Most Americans have either purchased or received a gift card or certificate. Business owners who issue, sell or redeem such cards should prepare to comply with the new federal law and, when they become available, the final regulations which will dictate disclosures, restrict fees which may be charged in connection with such products and programs and determine the scope of the cards and programs subject to such regulations.
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