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Joint Venturer May Be Partner By Estoppel

Benjamin Disraeli is often credited with saying “With words we rule men”. I haven’t found a source for that particular quotation. Even if he never uttered or wrote those words, I like the quote and the idea that the former...more

Governor Yellen Addresses Bank Director Removal Over Foreclosure Practices; Lawmakers Press Regulators On Independent Foreclosure...

On November 18, Federal Reserve Chair nominee Janet Yellen responded to a recent inquiry by Senator Elizabeth Warren (D-MA) seeking more details about the Federal Reserve Board’s process for determining whether bank officers...more

Federal Court Allows FDIC D&O Suit Involving Business Judgment Rule To Proceed

On November 14, the U.S. District Court for the Southern District of West Virginia denied motions to dismiss filed by former officers and directors of a failed federal thrift who allegedly contributed to the bank’s collapse...more

Muddying the Waters on Policy Stacking Law: Perspectives on Insurance Recovery Newsletter – Summer 2013

In This Issue: - Federal Housing Finance Agency Proposes New Rules on Lender-Placed Insurance - J.P. Morgan Decision Curtails the Phantom “Restitution Defense” to D&O Coverage - Bad-Faith Claims...more

Condominium Liable For Failing To Provide A Parking Space To A Person With A Disability

We have previously written about the obligations the Ontario Human Rights Code places on condominium corporations....more

How Can Condo Directors Avoid Personal Liability?

We have, in the recent past, blogged about the Boily case. In this Ottawa case, a board of directors was found to be in contempt of court and was ordered to personally pay in excess of $96,000 in legal costs. ...more

Unsuccessful Lawsuit By Condo Owner - The Cost Implications

In a previous blog, we reported on a case, Harvey v. Elgin Condominium Corporation No. 3, where an unhappy unit owner sued the Corporation for various alleged infractions relating to the replacement of existing wooden decks,...more

Mississippi Court Holds D&O Policy Not Triggered By Real Estate Scheme

In its recent decision in State Farm Fire & Cas. Co. v. Anderson, 2013 U.S. Dist. LEXIS 57837 (S.D. Miss. Apr. 23, 2013), the United States District Court for the Southern District of Mississippi had occasion to consider...more

MARYLAND TITLE COMPANY CAN BE LIABLE IN NEGLIGENCE FOR TITLE SEARCH ERRORS

Does a title company owe a tort duty of care to its customer when conducting a title search? And, if such a duty exists and is breached, is a title insurance company vicariously liable for the title company’s negligent title...more

Federal Court Dismisses Fannie Mae Shareholders’ Subprime Suit Against Underwriters, Allows Claims to Proceed Against Fannie Mae,...

On August 30, the U.S. District Court for the Southern District of New York ruled on multiple motions to dismiss filed in four consolidated cases pending against Fannie Mae, certain former officers, and several banks, related...more

Condo Fraud Update

What happens after a condo corporation has been defrauded of millions of dollars? Raveena Aulakh of the Toronto Star recently provided an update on the plight of unit owners whose condo corporations were victims of a massive...more

Condo Directors Held Personally Liable for Legal Costs - A Follow-up

In response to our recent post on the case of Boily v. Carleton Condominium Corp. No. 145, where board directors were held by a court to be personally responsible for legal costs incurred by a group of owners, one of our...more

Condo Directors Held Personally Liable For Legal Costs

The Condominium Act (the “Act”) has several provisions (sections 85, 134(5) and 135(3) which place the financial burden of obtaining compliance orders on those responsible for the non-compliance, thus relieving innocent...more

Can formatting and font size in your contracts create liability? You bet.

Can formatting and font size in your contracts create liability? You bet. Believe it or not, the wrong font size and type style in a contract can get you into legal hot water. Here are a few examples from Texas law that...more

What Subscription Agreements Should Contain – Bruce E. Methven

The investor subscription agreement is the third major document used in private placement securities offerings, along with the investor questionnaire and the private placement memorandum or PPM. A number of provisions...more

Points to Consider for Your Private Placement Memorandum

A private placement memorandum or PPM is the main information document for potential investors. It’s like a business plan on steroids, adding required and recommended details and legal language for an offering. It goes by...more

Construction Oberview: Maryland Court of Appeals Rules that Consumer Protection Act Applies to Condominium Resale Disclosures

In a unanimous opinion filed on April 30, 2012, the Maryland Court of Appeals has established that provisions of the Maryland Consumer Protection Act apply to the information contained in a condominium resale certificate. The...more

Daily Report Article - "HOAs can decide rules enforcement"

Eleven-year-old case ends with Summary Judgment in favor of the association. Gwinnett County judge says homeowners associations may choose not to intervene in disputes over covenants....more

CFPB Issues S.A.F.E. Act Examination Procedures

On March 7, 2012, the Consumer Financial Protection Bureau (CFPB) issued guidance regarding examination procedures pertaining to compliance with the Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (SAFE Act or...more

Luxury Condos- No Amenities and a Lawsuit

You wouldn't expect that the purchase of a $1.4 million luxury condo unit would end up in court over whether the purchase included ownership in the amenities. But that is what happened when the condo owners of a high end...more

Should I Put My Primary Residence Into A Limited Liability Company?

Multiple member limited liability companies (“LLCs”) can be very useful tools for achieving asset protection . For this reason, individuals sometimes consider transferring their primary residence into an LLC. ...more

A Lesson For Board Members

A couple of months ago we reported that the Law Society of Upper Canada had refused to grant a licence to practice law to an applicant, after having determined that the applicant was not of good character. This determination...more

Small Business & Bankruptcy: Arizona Bankruptcy Attorney

Many dream of the day when they can start their own business. Unfortunately for some once the dream finally happens it ends all too soon. I am seeing many businesses that were quite successful for a number of years who have...more

Requisition to Remove Directors - Defamation

Owners who take part in signing a requisition to remove a director should be carefully reviewing what they sign or they may be finding themselves involved in a lawsuit where they could be held personally liable. This was...more

Condo Abuse of Power - Board of Directors

Unit owner disputes between owners or between owners and the board, can often lead to individuals taking inappropriate steps and sometimes carrying out illegal activities which they justify are "for the good of the community"...more

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