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The Supreme Court Continues Stability In The Secondary Mortgage Market

On Monday, the Supreme Court reaffirmed the principle that junior “underwater” residential mortgage liens can “pass through” a bankruptcy case unaffected. In Bank of America, N.A. v. Caulkett, the Supreme Court held that the…more

South Carolina Legislative Update

The South Carolina General Assembly will wrap-up session this Thursday, but will return the week of June 16th for the limited purpose of deliberating gubernatorial vetoes, appointments, local legislation, conference committee reports…more

[Video]FCPA Compliance and Ethics Report-Episode 165-BHP FCPA Enforcement and Lessons Learned for the Compliance Practitioner

In this episode I review the BHP Billiton FCPA enforcement action brought by the Securities and Exchange Commission. I review the underlying facts and provide some lessons learned for the compliance practitioner. The key lesson-you…more

Georgia Passes New Social P3 Legislation

Georgia Governor Nathan Deal signed into law new public-private partnership (P3) legislation, the Partnership for Public Facilities and Infrastructure Act (SB 59) (the Act) on May 5, 2015. The Act allows state and local government…more

Rating Agency Developments

On May 29, DBRS released its updated methodology for rating U.S. asset-backed commercial paper. On May 29, Fitch republished its criteria for rating supranationals. On May 28, Fitch released its updated criteria for rating new-issue…more

An attempt at Harmonization: Export Documentation Changes

The Bureau of Industry and Security (BIS) is currently accepting comments on methods of improving the Export Administration Regulations (EAR) as well as harmonizing these regulations with the clearance requirements under the…more

Supreme Court Clarifies Burden of Proof for Religious Accommodation and Disparate-Treatment Claims

The U.S. Supreme Court sided with the EEOC today and clarified the standard for religious accommodation and disparate-treatment claims under Title VII. The Court ruled that an applicant can advance a disparate-treatment claim by…more

Court Denies Motion for Partial Summary Judgment in RMBS Repurchase Litigation

On May 22, 2015, Judge Denise Cote of the United States District Court for the Southern District of New York denied defendants WMC Mortgage, LLC and GE Mortgage Holding, L.L.C.’s motion for partial summary judgment to dismiss certain…more

New Rule Clarifies Federal Government Authority to Regulate Certain Bodies of Water

The final Waters of the United States rule, jointly proposed by the U.S. Environmental Protection Agency and the U.S. Army Corps of Engineers last spring, was signed on May 26, 2015, and aims to clarify the federal government’s…more

European Commission Requests 11 Member States to Implement Bank Recovery and Resolution Directive (BRRD)

On May 28, 2015, the European Commission published a press release announcing that it has requested 11 member states (Bulgaria, the Czech Republic, France, Italy, Lithuania, Luxembourg, the Netherlands, Malta, Poland, Romania, and…more

Wholly Underwater Junior Liens May Not Be Stripped Off in Chapter 7 Bankruptcy Proceedings

The U.S. Supreme Court has held that a debtor in a Chapter 7 bankruptcy proceeding may not void a junior mortgage lien when the debt owed on a senior mortgage lien exceeds the current value of the collateral, provided that the junior…more

CEQA Categorical Exemption Case Opinion Ordered Slightly Modified By Supreme Court; Berkeley Hillside Preservation Judgment Is Unaffected

On May 27, 2015, the California Supreme Court filed a 4-page order modifying portions of the majority and concurring opinions previously filed March 2, 2015, in Berkeley Hillside Preservation v. City of Berkeley (2015) 60 Cal.4th 1086…more

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The Fenwick & West Life Sciences Group is a multi-disciplinary legal team comprised of more than 60 attorneys, agents and scientists who advise many of the West Coast’s leading private and public life…

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