Corporate Law News and Insights

On April 3, 2019, the Division of Corporation Finance of the Securities and Exchange Commission (“SEC” or the “Commission”), through its Strategic Hub for Innovation and Financial Technology (“FinHub”), issued a white paper titled “Framework for ‘Investment Contract’ Analysis of Digital Assets” (the “Framework”). On the same day, FinHub issued...

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After months of teasing, on April 3 staff of the Securities and Exchange Commission ("SEC") issued a long-awaited Framework for "Investment Contract" Analysis of Digital Assets. The Framework provides further guidance under the SEC's Howey test as to whether digital assets constitute securities under federal law. The Framework focuses in particular on whether...

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In a March 19, 2019 summary order, the U.S. Court of Appeals for the Second Circuit affirmed the district court's dismissal of a purported shareholder's appeal challenging the chapter 15 recognition of a Cayman Islands restructuring of an offshore drilling contractor. See In re Ocean Rig UDW Inc., No. 18-1374, 2019...

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