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President Obama Signs Jobs Act

Landmark Legislation Changes the Landscape of Raising Capital
On April 5, 2012 President Obama signed the Jumpstart Our Business Startups Act (JOBS Act) into law. Passed by a 73-to-26 vote in the U.S. Senate and a 380-to-41 vote in the U.S. House of Representatives, the JOBS Act is a bipartisan col-lection of legislative measures that have been in-troduced over the past year and change dramati-cally the regulatory scheme for raising capital in the U.S.

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Regulation A: Old Reg, New Opportunity

For the last 30 years, Regulation D has dominated the exempt securities offerings landscape. This dominance was only enhanced with the passage of the National Securities Markets Improvement Act of 1996 (NSMIA) which exempted from state securities regulation (or “Blue Sky”) securities sold in offerings made pursuant to Rule 506 of Regula-tion D. In the aftermath of the recent economic and financial crisis two leading factors have emerged to hobble the usage of Rule 506 for most issuers in the raising of capital: (i) the lack of li-quidity of Rule 506 securities, and (ii) changes to the definition of “accredited investor” in the Dodd Frank Wall Street Reform and Consumer Protec-tion Act (“Dodd-Frank”) signed into law by President Obama in July 2010.

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The Perfect Storm: When Divorce, Bankruptcy and Real Estate Collide

Chris Hoctor and Troy Savenko of Gregory Kaplan, PLC were guest panelists/speakers at a CLE held by The Real Estate Section of The Bar Association of the City of Richmond entitled: “The Perfect Storm: When Divorce, Bankruptcy and Real Estate Collide.” Mr. Hoctor presented a discussion on the impact of section 365 of the Bankruptcy Code (Executory Contracts and Unexpired Leases) on commercial real estate. Mr. Savenko presented a discussion on single-asset real estate bankruptcies.

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Grady C. Frank, Jr. has joined the Richmond-based law firm as a Partner

Grady C. Frank, Jr. has joined the Richmond-based law firm, Gregory Kaplan, PLC, as a Partner of the firm. Grady has opened the firm’s new office in Alexandria, VA, replacing its Pennsylvania Avenue address in Washington, D.C. Grady’s practice focuses on matters concerning banking and mortgage lender liability claims, securities, insurance cover, casualty and insurance-related defense cases, partnership and intra-corporate disputes, and real property litigation.

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