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Crowdfunding and Mortgage Lending
Online real estate investing platforms (frequently called "crowdfunding" platforms) are becoming a common way for real estate operators and sponsors to raise equity capital for various types of real estate assets. This article discusses several topics that lenders should consider when making loans to borrowers that are indirectly funded using crowdfunded equity.
The general approach taken by these platforms is that "accredited investors" (pursuant to SEC regulations) become eligible to view investor presentations related to specific real estate investment opportunities (often related to a specific property), and thereafter these investors are afforded the opportunity to make equity investments (usually passive) of varying sizes. These investments are most often structured as acquisitions of limited liability company or other equity interests in an entity that will indirectly own the real estate asset.
The DOJ's Corporate Enforcement Policy: One Year Later
The DOJ's Criminal Division issued three declinations since the issuance of the revised CEP a year ago. Review of these cases gives insight into DOJ's implementation of the new policy in practice.
The DOJ's New Parameters for Evaluating Corporate Compliance Programs
The parameters set forth in the DOJ's memorandum have implications not only for the government's evaluation of compliance programs in the context of criminal charging decisions, but also for how defense counsel structure their conference-room advocacy seeking declinations or lesser sanctions in both criminal and civil investigations.
Use of Deferred Prosecution Agreements In White Collar Investigations
This article discusses the practical and policy reasons for the use of DPAs and NPAs in white-collar criminal investigations, and considers the NDAA's new reporting provision and its relationship with other efforts to enhance transparency in DOJ decision-making.
Bankruptcy Sales: Finding a Diamond In the Rough
There is no efficient market for the sale of bankruptcy assets. Inefficient markets yield a transactional drag, potentially dampening the ability of debtors and trustees to maximize value for creditors. This article identifies ways in which investors may more easily discover bankruptcy asset sales.
A Lawyer's System for Active Reading
Active reading comprises many daily tasks lawyers engage in, including highlighting, annotating, note taking, comparing and searching texts. It demands more than flipping or turning pages.