George Kelakos In remembrance

Prediction markets may be novel. The legal risks are not. In this New York Law Journal article, Aaron Wiltse and I discuss why the CFTC appears poised to take a more active role in shaping the rules for event contracts and why fraud and insider-trading theories may not be far behind. For operators and traders alike, 2026 could be a defining year. https://lnkd.in/e6iFwDpf

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In this issue of Lowenstein Sandler LLP's Crypto Brief: Wyoming becomes the first U.S. state to launch a stablecoin; NY introduces a 0.2% crypto transaction tax to fund substance abuse programs; SEC Chair Paul Atkins signals crypto tokens alone “probably aren’t” securities; and more. Explore how these developments could reshape the crypto landscape. #CryptoRegulation #StablecoinNews #ProjectCrypto #CryptoPolicy #CryptoBrief

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Delighted to be part of the team led by Kfir Abutbul advising on this strategic acquisition! FastBridge Fiber and Guggenheim Investments have entered into a definitive agreement for Greenlight Networks to acquire FastBridge Fiber, a Pennsylvania-based fiber internet provider. The transaction, expected to close in mid-2026 pending regulatory approvals, marks a significant milestone in the continued expansion of high-speed fiber internet across the Northeastern United States. Guggenheim will take an ownership stake in Greenlight Networks alongside Oak Hill Capital, supporting the company’s next phase of growth and expansion, following the transaction. FastBridge Fiber’s network spans key regions in Pennsylvania and New York. “A&O Shearman is proud to support FastBridge Fiber and Guggenheim in this transformative transaction,” said M&A partner Kfir Abutbul. “This deal, along with other recent transactions for Guggenheim over the past year, highlights our continued partnership with Guggenheim and underscores the rapid evolution of the fiber internet sector.” The team was led by partner Kfir Abutbul and associates Brady Lambeth, Lucy Chen, Yuwei Liu, and Loni Cardoso. Learn more about this transaction here: https://lnkd.in/ebQz4bjT

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DLA Piper is sponsoring the upcoming Opal Group CLO Summit in Dana Point, CA, December 7-9. DLA Piper Partner Carlo Ingato and Special Counsel Steven Lozner will be panelists. Carlo will speak on the panel, “Launching a New CLO Platform,” where he will provide insights into building and scaling new CLO strategies. Steven will join the panel, “Navigating the RRRs: Refis, Resets & Repricings,” which will cover an overview of the 2025 composition and vintages of refis and resets. The discussion will explore how loan refunding needs correlate to CLO refinancing, examine the impact of refinancing on CLO performance, and address shifting tail risks in CLO portfolios. Learn more about the event: https://lnkd.in/eEaaSV9q

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Brian Shaw of Cozen O'Connor discusses recent Fifth and Ninth Circuit decisions, which underscore that bankruptcy courts’ post-confirmation jurisdiction – particularly “related to” jurisdiction – is limited and cannot be created by retention of jurisdiction language alone, in Law360.

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𝐀 𝐟𝐨𝐮𝐧𝐝𝐞𝐫 𝐜𝐚𝐦𝐞 𝐭𝐨 𝐮𝐬 72 𝐡𝐨𝐮𝐫𝐬 𝐛𝐞𝐟𝐨𝐫𝐞 𝐚 𝐭𝐞𝐫𝐦 𝐬𝐡𝐞𝐞𝐭 𝐰𝐚𝐬 𝐝𝐮𝐞 𝐭𝐨 𝐞𝐱𝐩𝐢𝐫𝐞. The investor had flagged three issues in due diligence. 1. No formal IP assignment from the technical co-founder (who had since left) 2. A shareholder loan from year one that hadn't been properly documented 3. Employment contracts that didn't include IP assignment clauses None of these were catastrophic. But to an institutional investor, messy documentation signals one thing: 𝐨𝐩𝐞𝐫𝐚𝐭𝐢𝐨𝐧𝐚𝐥 𝐢𝐦𝐦𝐚𝐭𝐮𝐫𝐢𝐭𝐲. We had 72 hours. Here's what we did: — Drafted and executed a retroactive IP deed of assignment — Structured and documented the shareholder loan properly — Issued updated employment agreements with the right clauses The round closed. The founder went on to a Series A 14 months later. The lesson isn't that you can always fix things last minute. You often can't. The lesson is that legal infrastructure isn't a "later" problem. It's a "now" problem disguised as an administrative chore. If you're raising in the next 6 months, get your house in order today. Drop in "DILIGENCE" below and I'll send you our 𝐄𝐬𝐬𝐞𝐧𝐭𝐢𝐚𝐥𝐬 𝐏𝐫𝐞-𝐑𝐚𝐢𝐬𝐞 𝐋𝐞𝐠𝐚𝐥 𝐂𝐡𝐞𝐜𝐤𝐥𝐢𝐬𝐭 at TFL. The Founders Lab 𝘣𝘺 𝘝𝘳𝘪𝘥𝘥𝘩𝘪 𝘝𝘦𝘯𝘵𝘶𝘳𝘦𝘴. #StartupUAE #DueDiligence #TheFoundersLab #SeriesA #LegalAdvisory #Fundraise

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A Latham team led by partners Greg Rodgers and Andrew Blumenthal advised on Halozyme Therapeutics’ convertible senior notes offerings totaling US$1.3 billion. https://lw.link/XdS6HF

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The below link is interesting. Takeaways: The middle market isn’t disappearing — but it is getting squeezed. Global M&A continues to be dominated by mega-deals, while middle-market transactions lose share amid tighter financing, increased complexity, and greater buyer selectivity. That makes preparation and positioning more important than ever. In today’s market, successful middle-market deals require: • a differentiated growth story • disciplined diligence readiness • creative structuring • and strategic execution At Sklar Kirsh, we continue to help founders, sponsors, and companies navigate this increasingly bifurcated M&A environment — where strong businesses still command strong outcomes. #MiddleMarket #MergersAndAcquisitions #PrivateEquity #DealMaking #SklarKirsh #MandA https://lnkd.in/gtCXHjra

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📢 ILPA Launches Continuation Fund Disclosure Template ILPA has released its new Continuation Fund Disclosure Template, aimed at increasing transparency and consistency in GP-led continuation fund transactions. As these transactions become more common, LPs are often asked to make roll/sell decisions under tight timelines and with varying levels of information. The template brings together key data points — including asset information, transaction structure, economics and terms — in a standardized format to facilitate more efficient and informed decision-making. While not a substitute for full transaction documentation, this is a meaningful step toward greater clarity and alignment in continuation fund processes. An important development for sponsors, LPs and advisers active in the secondary market. https://lnkd.in/dPrr3eFy #PrivateEquity #ContinuationFunds #ILPA #FundGovernance #Secondaries #Wigge #WiggeFundsTeam

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Chapter 15 of the U.S. Bankruptcy Code is evolving fast, and recent rulings are reshaping how courts approach COMI, third-party releases, and public policy exceptions. In our recent Red Zone blog post, we break down the doctrinal shifts and practical lessons from the past year, including: ⚖️ Why the Eleventh Circuit’s Zawawi decision challenges a decade of precedent 📌 How courts are scrutinizing COMI engineering with surgical precision 🔒 The growing acceptance of non-consensual third-party releases in foreign plans 🚨 What practitioners must do to secure provisional relief and avoid Section 1506 pitfalls 🔗 Read the full breakdown:

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DLA Piper is proud to have advised our clients, Concord and HarbourView Equity Partners, on two of Billboard’s “10 Biggest Music Business Deals of 2025.” Concord’s $1.765 billion asset-backed securitization ranked #1, and HarbourView Equity Partners’ $500 million asset-backed debt financing with KKR ranked #5. These landmark transactions highlight the market-leading achievements of our Music ABS team. Read more: https://lnkd.in/gF7FeeAV

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A cross-border team led by corporate partner Jeffrey Lawlis, counsel Giorgio Thomson Ignazzi, and associate Michele Vangelisti represented the issuer and the sponsor in the bond offerings and revolving credit facility upsize. https://lw.link/1amp8e

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As the cost of chapter 11 bankruptcies marches upward, secured lenders continue to consider their alternatives. This article explores the important role independent directors can play in restructurings.

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Greenberg Traurig is mentioned in a recent Law360 article covering iRocket’s $400 million SPAC merger. Corporate Senior Chair Alan Annex led the team advising on the transaction, which marks a significant development in the aerospace sector.

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Aquino (Re), 2026 ONCA 132 at paras. 29-47 contains a good analysis of the various issues at play on an application for a bankruptcy order. https://lnkd.in/e_rh2mfJ

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Nasdaq is proposing tougher initial and continued listing standards aimed at liquidity and market integrity (this includes $15M public float for certain new listings, accelerated delistings and a $25M minimum raise for China-based issuers). What this means for IPOs, de-SPACs, and uplists: https://lnkd.in/gRRzcAmM

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