Latest news with #JoanneDeSimone
Bloomberg
03-07-2025
- Business
- Bloomberg
‘Big Beautiful Bill' Raises Threat of Default for Litigation Asset-Backed Securities
Legislation tucked inside President Donald Trump's landmark tax bill could make it difficult for asset-backed securities tied to litigation funding to make timely interest payments, according to a note by Kroll Bond Rating Agency. The Tackling Predatory Litigation Funding Act, which is part of the One Big Beautiful Bill Act currently in the Senate, would impose substantial new taxes on profits from third-party litigation funding, says the June 27 note by authors including Joanne DeSimone and Zara Shirazi.
Associated Press
03-07-2025
- Business
- Associated Press
KBRA Releases Update on Potential OBBBA Implications for Litigation Finance ABS
NEW YORK--(BUSINESS WIRE)--Jul 3, 2025-- The version of the One Big Beautiful Bill Act (OBBBA) that was passed by the U.S. Senate on July 1 did not include the taxation provisions on litigation finance originating from the Tackling Predatory Litigation Funding Act (TPLFA). As we indicated in our June 27 report, Potential OBBBA Implications for Litigation Finance ABS , if the TPLFA provisions had been passed in their proposed form, this could have had notable implications for litigation finance asset-backed securities (ABS). The provisions were removed from the Senate version of the OBBBA following a ruling by the Senate Parliamentarian indicating that they were not compliant with the Byrd Rule. For the TPLFA provisions to be included in any reconciliation package, they would need to secure a 60-vote threshold. About KBRA KBRA, one of the major credit rating agencies, is registered in the U.S., EU, and the UK. KBRA is recognized as a Qualified Rating Agency in Taiwan, and is also a Designated Rating Organization for structured finance ratings in Canada. As a full-service credit rating agency, investors can use KBRA ratings for regulatory capital purposes in multiple jurisdictions. Doc ID: 1010249 View source version on CONTACT: Joanne DeSimone, Managing Director, ABS Commercial +1 646-731-2306 [email protected] Shirazi, Managing Director +1 646-731-3326 [email protected] Development ContactArielle Smelkinson, Senior Director +1 646-731-2369 [email protected] KEYWORD: UNITED STATES NORTH AMERICA NEW YORK INDUSTRY KEYWORD: PUBLIC POLICY/GOVERNMENT WHITE HOUSE/FEDERAL GOVERNMENT PROFESSIONAL SERVICES FINANCE SOURCE: Kroll Bond Rating Agency, LLC Copyright Business Wire 2025. PUB: 07/03/2025 10:10 AM/DISC: 07/03/2025 10:10 AM
