Finance & Banking Updates – May 22, 2012

by Snell & Wilmer L.L.P. on 5/21/2012

Originally published in the Orange County Business Journal April 30 - May 6, 2012. A fundamental principle of commercial lending holds that debt should be repaid prior to any return on equity. If a borrower cannot...more

by Barger & Wolen on 5/21/2012

In Wood v. City of San Diego, Janet Wood brought suit under Title VII of the Civil Rights Act of 1964, alleging the surviving spouse benefit provided by the City of San Diego to retired employees discriminated on the basis of...more

by Katten Muchin Rosenman LLP on 5/21/2012

The Securities and Exchange Commission brought a complaint against the former Chief Financial Officer of a now defunct investment adviser seeking enforcement of the Investment Advisers Act of 1940 (IAA). The U.S. District...more

by Sheppard Mullin Richter & Hampton LLP on 5/21/2012

In Debrunner v. Deutsche Bank Nat. Trust Co. (Cal.App. 6 Dist., 2012) --- Cal.Rptr.3d ----, 2012 WL 883128, the California Court of Appeal affirmed the dismissal of a complaint for wrongful foreclosure with prejudice, holding...more

by Katten Muchin Rosenman LLP on 5/21/2012

Effective May 14, the Division of Corporation Finance of the Securities and Exchange Commission has implemented a secure e-mail system that allows it to receive confidential submissions from “emerging growth companies” (EGCs)...more

by Sanford Millar on 5/21/2012

For most U.S. taxpayers who have undeclared foreign financial accounts entering the Offshore Voluntary Disclosure Initiative of 2012 (OVDI) is appropriate. Many people have contacted me and have decided not to enter the OVDI...more

by Bryan Cave on 5/21/2012

The President today announced that the United States will ease its prohibitions on the export of financial services to and new investment in Burma. Secretary of State Hillary Clinton today separately announced that the United...more

by King & Spalding on 5/18/2012

On May 15, 2012, the United States Court of Appeals for the Eleventh Circuit issued an opinion in the TOUSA, Inc. (“TOUSA”) chapter 11 bankruptcy cases reinstating a $480 million fraudulent transfer judgment previously...more