Posts tagged Financial Services
Cannabis Federal Legislative Update

The friction inherent in the divide between state and federal treatment of cannabis has been a major impediment to the growth and evolutionary development of the industry on a national integrated scale. Access to banking and financial markets, in particular, has been an issue for many businesses in the cannabis industry, as a result of the reluctance of many institutions in the banking sector to provide banking services to cannabis-related businesses and service providers. This is understandable, given the regulatory and compliance burdens (and uncertainty with regard to criminal liability) under the Bank Secrecy Act and relevant federal anti-money laundering laws and regulations, as well as other federal criminal statutes. Recent developments in Congress, however, suggest that there is bipartisan support among federal lawmakers to provide a way forward. Two pending bills-the Secure and Fair Enforcement Banking Act of 2019, H.R. 1595 (the "SAFE Banking Act") and the Strengthening the Tenth Amendment Through Entrusting States Act (the "STATES Act")-take slightly differing approaches, but the end result of both, if enacted, would be significant, and sweeping, cannabis reform at the federal level.

Read More
Sadis & Goldberg LLP Represented a U.S. Subsidiary of Menē, Inc. ("Menē") in Connection with a Recently Closed Secured Loan

Toronto-based Menē crafts pure 24 karat gold and platinum jewelry that is sold by gram weight.  Through its website, mene.com, customers may buy jewelry, monitor the value of their collection over time, and sell or exchange their pieces by gram weight at prevailing market prices.

Read More
Sadis & Goldberg LLP Represented Bitfarms Ltd. in a $20M Loan Financing Deal with Dominion Capital

A team of Sadis attorneys led by Partner Paul J. Marino represented Bitfarms Ltd. ("Bitfarms") in a $20,000,000 strategic debt financing (the "Loan Financing") which was provided by New York-based Dominion Capital LLC ("Dominion") and will be made available in four $5,000,000 tranches tied to the ongoing satisfaction of customary covenants and various milestones, including Bitfarms' infrastructure build-out and associated mining hardware purchases.

Read More
Sadis & Goldberg LLP Is Pleased To Announce Its Representation of Apex Fund Services in the Purchase of Atlantic Fund Services

A team of Sadis attorneys led by Partner Paul J. Marino represented Apex Group Ltd. ("Apex") in the acquisition of Atlantic Fund Services ("Atlantic"), a U.S.-based fund administrator serving the traditional and alternative mutual fund market. Apex is a portfolio company of Genstar Capital.

Read More
Sadis & Goldberg Named Best Global Law Firm at Hedgeweek Global Awards 2019

Hedgeweek recently announced that Sadis & Goldberg LLP was named the best Global Law Firm at the 2019 Hedgeweek Awards. The annual Hedgeweek Global Awards recognize excellence among hedge fund managers and service providers celebrate the achievements of firms that contributed to another significant year for the sector. The awards were decided by a poll of Hedgeweek readers, who include both investors and managers as well as other industry professionals at firms including fund administrators, custodians, accountants and auditors, law firms, consultants and fund distributors.

Read More
Sadis & Goldberg LLP named the Best Law Firm at the Alt Credit Intelligence US Service Awards

HFM announced on February 12, 2019 that Sadis & Goldberg LLP was named the Best Law Firm at the Alt Credit Intelligence US Services Awards. The Alt Credit Intelligence Service Awards highlight the best in class for services to alternative credit fund managers. Service providers are recognized for their excellence in customer service, technological innovation and overall service.

Read More
Sadis Opportunity Zone Practice Group Submits a Comment Letter to the Department of Treasury and IRS Regarding Proposed Regulations

The Sadis Opportunity Zone Practice Group recently submitted a comment letter on to the Department of Treasury and the Internal Revenue Service (IRS), commenting on issues raised by the Department of Treasury’s proposed regulations for Opportunity Zones.

Read More