D.C. Circuit Rules Managers of Open-Market CLOs Are Not Required to Have “Skin in the Game”

Alternative Investment Practice partners Jay Grushkin, Catherine Leef Martin, and Sean M. Solis, along with special counsel Nicholas Robinson and associate Ashley Whang, recently co-authored an article in Pratt’s Journal of Bankruptcy Law titled “D.C. Circuit Rules Managers of Open-Market CLOs Are Not Required to Have ‘Skin in the Game.’” The article discusses the ruling by the U.S. Court of Appeals for the D.C. Circuit that Section 941 of the Dodd-Frank Wall Street Reform and Consumer Protection Act does not apply to “open-market CLO” managers.

Read the full article in Pratt’s Journal of Bankruptcy Law.