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Mike Rave was quoted in an analysis article, "Reg Rollbacks Seen As Bit Player In $28B BB&T-SunTrust Deal," published by Law360. Despite criticism from Democratic lawmakers, who view the $28 billion merger between SunTrust and BB&T as a potentially dangerous byproduct of recent efforts to loosen post-crisis regulations on big banks, the article reports that financial services attorneys indicate that this deregulation is only a minor player in this latest banking industry consolidation.
As noted in the article, the Fed has called for relaxing certain capital requirements and other prudential standards for banks with between $250 billion and $700 billion in assets as part of its package of "tailoring" proposals unveiled last fall, but there, too, the biggest regulatory rollbacks are aimed at banks a step smaller than the proposed BB&T-SunTrust combination.
Rave told Law360 he is not sold on the idea that this particular merger is the result of these deregulatory efforts. To the extent rule rollbacks do spur transactions, it's going to be on the smaller end of the regional bank spectrum, where tie-ups can be expected to land below the new systemically important threshold, he commented. "You're going to see a lot more deals not necessarily above the $250 billion level, but between the $50 billion and $250 billion levels," Rave said.
On July 7, Michael Kaufman will participate as faculty on Strafford's 90-minute Q&A style webinar, "Contribution Agreements: Joint Liability and Rights of Contribution Under Loan Guaranties."
On February 20, Michael Rave and Michael Dunne spoke at FinXTech R.O.D.E., a conference presented by Autobooks, Bank Director and Microsoft and held at the Advanced Technology Development Center in Atlanta, GA.
On January 15, Brian Fischer spoke at "When Good Deals Go Bad – Pitfalls to Avoid During the Sale Process," an Exit Planning Exchange (XPX) program held at The Hartford Club in Hartford, CT.
October 24, 2019
Partners Edward Krzanowski, Tiana Gianopulos and Daniel Gottfried spoke at the 2019 Federal Tax Institute of New England, a CLE program presented by the Estates and Probate Section and the Tax Section of the Connecticut Bar Association and held in Portland, CT.
On January 27, Michael Rave will be speaking on "Public & Private Capital Raising: How To Fund Your Bank for Growth and/or Change" at Bank Director's annual conference, Acquire or Be Acquired, in Phoenix, AZ.
Patricia "Paty" Jimenez has been elected President of the Connecticut Hispanic Bar Association (CHBA).
Lane Watson was featured in the Connecticut Law Tribune article "Goodbye Law Firm Retreats: New Executive Order Allows For Remote Annual Meetings During COVID-19 Crisis."
Hedge Fund Law Report covered Erik Bergman's move to Day Pitney's Stamford office in an article posted March 12.
Day Pitney LLP represented Pula Capital Management LP (Pula), a newly formed investment manager based in Virginia, in connection with (i) the acquisition of a minority ownership interest in Pula by Felton Group, LLC (Felton Group), and (ii) an investment by Felton Group in Pula Capital Fund, LP, a newly formed fund managed by Pula that intends to employ novel mathematical techniques and a proprietary, systematic predictive model to trade a diversified long-short portfolio of liquid U.S. equities.
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