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A Newsletter Focused on Emerging Growth Companies and their Key Participants
MAY 2014

Venture Fundraising Soars in the First Quarter

Overall, U.S.-based venture firms raised about $9 billion in the first quarter of this year which was the highest quarterly tally in more than six years.

Read More....
Software Investments... A Huge Deal Right Now?
Based on data from Thomson Reuters for 2014's first quarter, VC's believe that software is a huge deal right now - also hot is biotechnology.  Read More... 
Dual Operating System to Accelerate Your Business

This article highlights steps intended to help top management tackle big opportunities which are taken from John Kotter's new book, Accelerate: Building Strategic Agility for a Faster-Moving World. Why we need two "operating systems."  Read More....  

 The Importance of Capital Structure 
A company's capital structure is arguably one of its most important choices. This article explains capital structure: what it is and why it matters.  Read More...
  Gearing Up In M&A 
According to The Deal Pipeline, there were 144 PE deals in the first quarter -- some 90 less than in the same period last year.  Private equity firms certainly have money to put to use. Read More...
PE Funds May Become More Accessible to Smaller Investors 
The plan, still in its preliminary stages, envisions a market where investors in private equity funds can sell their stakes to individuals whose net worth falls far below the usual threshold for such
 investments.  David M. Rubenstein, a co-founder and co-chief of the Carlyle Group gives his thoughts on wooing smaller investors. Read More...

Q1 at Martin LLP - 
The Results Are In!
15 Venture Financing Deals Closed for Investors and Companies, Aggregating Over $280M...
Bio Tech                   $110M
Medical Device           $75M
Specialty Pharma         $58M
IT                                 $34M
Consumer Products        $4M 
Healthcare Services       $1M

Lalemant Sells Shipbrokering Business to SSY


Martin LLP advised Lalemant (U.S.A.) Inc. in connection with the sale of its shipbrokering business and related assets to Simpson, Spence and Young, the world's largest independent shipbrokering group. The newly-formed division will operate under the name of SSY USA. Our  representation included corporate, employment and tax law aspects regarding the structuring of the transaction and the negotiation of the definitive sale agreements.  Our team was led by Andrew W. Nelson.  

Fannie and Freddie Escape Liability for Conn. Conveyance Tax
On April 22, 2014, the U.S. District of Connecticut dismissed a class action complaint filed by the City of Bridgeport on behalf of all Connecticut Cities and Towns against Fannie Mae and Freddie Mac to compel payment of real property transfer or conveyance taxes.


After the housing market collapse in 2008, Fannie and Freddie acquired title to and sold a large number of properties. In reliance on exemption statutes passed by Congress, Fannie Mae and Freddie Mac did not pay transfer conveyance taxes in connection with the sale of these properties. 


The City of Bridgeport claimed that the taxes were due on the grounds that the transfer or conveyance tax did not fit within the statutory exemptions or, alternatively, that the exemptions were unconstitutional.  The District Court, following the logic of other courts having already decided these issues, rejected all of the City of Bridgeport's arguments and dismissed the case with prejudice. 


Mark S. Gregory represented Fannie Mae and Freddie Mac as Connecticut Counsel in the class action.



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