Civil Procedure Finance & Banking

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Court Affirms Order Requiring Partition of Property Where Fiduciary’s Homestead Argument Failed

In Byrom v. Penn, Byrom was appointed executor of his mother’s estate, and he was later removed as executor for breach of fiduciary duty by using estate funds to build a house for himself. No. 12-15-00033-CV, 2016 Tex. App....more

Ninth Circuit Holds Each Debt Collector Must Send a 1692g Validation Notice, Even If Previously Provided By Another Debt Collector...

In Hernandez v. Williams, Zinman & Parham PC, No. 14-15672, — F.3d –, 2016 WL 3913445 (9th Cir. July 20, 2016), the Ninth Circuit Court of Appeals held that each subsequent debt collector is required to send a § 1692g(a)...more

Court of Appeal decides that full losses flow from a second negligent valuation on a refinance regardless of whether the second...

In Tiuta International Limited (in Liquidation) v. De Villiers Surveyors Limited [2016] EWCA Civ 661, the Court of Appeal allowed an application to set aside summary judgment after considering the correct application of the...more

New out-of-court settlement in Belgium for bribery, fraud and money laundering offences

A new law has introduced an out-of-court criminal dispute resolution procedure which is available to, inter alia, a legal entity accused of bribery, fraud or money laundering. Provisions relating to another alternative to...more

Unauthorized Transfers of Receivership Property: Void, Voidable or Ok?

Question: Unauthorized Transfers of Receivership Property: Void, Voidable or Ok? Answer: In a recent unpublished bankruptcy appellate panel decision (In Re Domum Locis, LLC, 2015 WL 4697747 (9th Cir. BAP 2015)), the BAP...more

Network Rules Occupy Second Circuit, U.S. Supreme Court

Issues surrounding network rules made headlines recently, with the Second Circuit Court of Appeals rejecting a $7.25 billion deal between Visa and MasterCard and approximately 12 million merchants claiming the networks worked...more

Supreme Court Rules that Citizenship of a Real Estate Investment Entity is Based on Citizenship of its Members, Which Includes...

On March 7, 2016, the U.S. Supreme Court (the “Supreme Court”) ruled that the citizenship of a Real Estate Investment Entity (“REIT”), for purposes of federal diversity jurisdiction, is based on the citizenship of its...more

Nevada Supreme Court Accepts Certified Question in HOA Lien Litigation Case – Should the SFR Decision Apply Retroactively?

We previously reported on the Nevada Supreme Court’s decision in SFR Investments Pool 1, LLC. v. U.S. Bank, N.A., holding that a homeowners association (HOA) lien is a true super-priority lien that upon foreclosure...more

Second Circuit Holds Class Can Be Decertified After Jury Verdict

A class certification ruling is always subject to challenge if the class representative does not prove the necessary elements of class certification. On July 15, the U.S. Court of Appeals for the Second Circuit held...more

Prevailing in an Era of Regulatory Enforcement – Balancing Risk and Compliance [Expect Focus – Vol. II, July 2016]

IN THE SPOTLIGHT - - SEC Sanctions Unregistered EB-5 Investments Broker SECURITIES - - FINRA to Assess Member Firms’ Culture - SEC Seeks Fund Responses to Distribution-In-Guise Guidance...more

Ninth Circuit Case of First Impression Holds That FDCPA Notice Requirement Applies to Subsequent Collectors of Same Debt

Action Item: The Ninth Circuit reversed the Arizona District Court’s summary judgment in favor of a defendant debt collector in an action under the Fair Debt Collection Practices Act. In a case of first impression, the Ninth...more

Top 5 Things the Financial Industry Needs to do in Response to the CFPB’s Proposed Arbitration Rule

On May 5, 2016, the Consumer Financial Protection Bureau (CFPB) announced a long awaited and highly controversial proposed rule that, if adopted, would prohibit certain financial services companies from banning consumer class...more

Real Property & Title Insurance Update: Week Ending July 22, 2016

Lis Pendens: a party seeking to maintain a lis pendens must establish a “fair nexus” between the party’s claim and the subject property by making “a minimal showing that there is at least some basis for the underlying claim...more

CFPB Week in Review

The Consumer Financial Protection Bureau (CFPB) had another busy week. Here is an overview of what the CFPB was up to recently: Enforcement Actions and Litigation - Enforcement Action Against Santander Bank...more

CFPB’s Proposed Rule Banning Use of Pre-Dispute Arbitration Agreements to Block Consumer Class Actions Signals New Wave of Class...

On May 5, the Consumer Financial Protection Bureau (CFPB or Bureau) published a proposed rule which would prohibit application of pre-dispute arbitration agreements to class litigation involving a broad range of consumer...more

German Employee's Dismissal at U.S. Regulator's Behest Ruled Invalid

On July 13, 2016, the Frankfurt Higher Labor Court held the dismissal of an employee in response to demands by the New York State Department of Financial Services (NYDFS) was invalid. (Frankfurt Labor Court, 18 Sa 1498/15)....more

The Court of Appeal redefines the “but-for” causation test for negligence: Losses caused to a lender by a surveyor’s negligent...

In a landmark judgment with wide implications for the lending, refinancing and valuation industries, in Tiuta International Ltd (In liquidation) v De Villiers Surveyors Ltd [2016] EWCA Civ 661, the Court of Appeal, by a two...more

Are Those Taxes Owing On Your Late-Filed Tax Return Dischargeable? Maybe, But You Better Be In The Right Circuit

Individual debtors with old tax debts relating to late-filed tax returns may be surprised to find that those tax debts may not be dischargeable under section 523(a) of the Bankruptcy Code due to the lateness of the tax...more

Implications of Madden v. Midland Funding

In earlier client OnPoints, we have provided a comprehensive review of recent developments in the U.S. affecting the marketplace lending industry, including the potentially far-reaching Madden v. Midland Funding, LLC case...more

2nd Circuit Affirms Decertification of Class After Jury Verdict

Key Points - The U.S. Court of Appeals for the 2nd Circuit recently held that district courts have the power to decertify a class even after a jury verdict in favor of the class...more

Supreme Court’s Spokeo Decision Leaves Questions Unresolved

On May 16, the Supreme Court issued its Spokeo v. Robins decision. Spokeo was a closely-watched case, as it had the potential to substantially limit federal court jurisdiction in cases where plaintiffs sued for violations of...more

Midland Funding Continues to Flood Arizona Courts with Debt Collection Lawsuits

Midland Funding continues to flood Arizona courts with debt collection lawsuits filed against Arizona consumers. Last year I pulled the data in October 2015 as to the number of lawsuits filed by junk debt buyers like Midland...more

Enforcing Personal Guaranties

You might wonder whether lenders can enforce a guaranty of a loan from an individual or entity that has no formal connection with the borrower, i.e. someone who is not an owner or affiliated company. Generally, the answer is...more

Sixth Circuit Court of Appeals Accepts Materialization-of-Risk Standard for Loss Causation

On July 20, 2016, the U.S. Court of Appeals for the Sixth Circuit recognized the “materialization of the risk” standard as a means of proving loss causation in securities-fraud cases. The court’s decision in Ohio Public...more

Real Property & Title Insurance Update: Week Ending July 15, 2016

REAL PROPERTY UPDATE - Foreclosure/Unclean Hands: defense of unclean hands insufficient where borrower alleges bank’s loan officer inflated borrower’s income and assets to qualify for loan where borrower signed off on...more

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