Business Torts Updates – May 23, 2012

by Reed Smith on 5/23/2012

In a recent unpublished decision, the Superior Court of Delaware, New Castle County, decided to allow a business entity’s former tax manager, joining with the attorney general for the state of Delaware, to proceed with a...more

by Orrick, Herrington & Sutcliffe LLP on 5/22/2012

On 16 May 2012 the FSA published a decision notice which it has issued to Anthony Verrier, a former senior executive at BGC Brokers LP. The FSA decided to prohibit Mr. Verrier from performing any function relating to any...more

by Orrick, Herrington & Sutcliffe LLP on 5/22/2012

On May 15, 2012, IKB Deutsche Industriebank AG and an IKB affiliate filed two lawsuits against Bank of America and related entities in the New York Supreme Court. The first, in which several Countrywide entities are also...more

by Cadwalader, Wickersham & Taft LLP on 5/22/2012

On April 25, 2012, the U.S. Court of Appeals for the Eleventh Circuit overturned a decision by the U.S. District Court for the Northern District of Georgia permitting noteholders to proceed with a fraudulent transfer suit...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 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

by Cadwalader, Wickersham & Taft LLP on 5/18/2012

On May 15, 2012, the Eleventh Circuit Court of Appeals upheld a ruling by the U.S. Bankruptcy Court for the Southern District of Florida, which required certain lenders to return $403 million in prepetition payments they had...more