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Read Civil Remedies updates, alerts, news, and legal analysis from leading lawyers and law firms:

CFPB Settlements: It’s Not Over Until It’s Over

by Foley & Lardner LLP on

On April 26, 2017, the Consumer Financial Protection Bureau (“CFPB”) broke new ground by imposing a fine – in excess of a million dollars – against a consumer financial services company for allegedly violating the terms of...more

Investment Funds Updatea: Europe: Legal and regulatory updates for the funds industry from the key asset management centres and...

by Dechert LLP on

HM Treasury Finalises Private Fund Changes to Limited Partnerships Act 1907 - As previously reported, HM Treasury published on 16 January 2017, a draft Legislative Reform (Private Fund Limited Partnerships) Order 2016...more

If At First You Don’t Succeed - Georgia Supreme Court Upholds Waiver of Confirmation After Prior Confirmation Action Denied

On April 17, 2017, the Supreme Court of Georgia found that defendant guarantors had waived the statutory protections under the Georgia foreclosure confirmation statute, and the lender could pursue a deficiency judgment...more

Conflicts of Laws, Deficiency Actions, and Statutes of Limitations – Oh My!

by Snell & Wilmer on

What law governs a deficiency action if the choice-of-law provisions in the note and deed of trust conflict? The Arizona Court of Appeals answered that very question in ZB, N.A. v. Hoeller, No. 1 CA-CV 16-0071 (Ct. App. April...more

Fraud-Free Sunsets: How Financial Professionals Can Deter Financial Elder Abuse in Florida and Reduce Their Own Liability Exposure

by Carlton Fields on

Investment advisers, securities brokers, and other financial professionals who work directly with clients who are age 60 and older have two reasons to learn more about Florida’s financial elder abuse laws....more

Landlords Beware: Subordination Agreements

by Snell & Wilmer on

In the recent Arizona Court of Appeals case Earle Investments, LLC v. Southern Desert Medical Center Partners, 762 Ariz. Adv. Rep. 12 (2017), the Court of Appeals addressed the question of the scope of a subordination...more

Right to Seek Injunctive Relief Cannot be Waived by Arbitration Provision - Arbitration Agreement does not Provide Shield from...

by Best Best & Krieger LLP on

An arbitration agreement preventing individuals from seeking injunctive relief was void as contrary to California public policy and could not be enforced under California law, the California Supreme Court recently determined...more

Changing the Game, Again: Supreme Court Could Limit SEC’s Authority to Seek Disgorgement

This week, the Supreme Court heard argument regarding whether the SEC’s actions to disgorge ill-gotten gains are subject to a five-year statute of limitations for “any civil fine, penalty, or forfeiture.”...more

California Supreme Court Finds Waiver Of Statutory Remedy In Arbitration Agreement Contrary To Public Policy

by Carlton Fields on

“Agreements to arbitrate claims for public injunctive relief under [California’s Consumers Legal Remedy Act or Unfair Competition Law], or the false advertising law are not enforceable in California.” The California Supreme...more

Maintaining confidentiality in fund documents: a realistic expectation?

by Dechert LLP on

In this context, the English High Court recently granted an interim injunction preventing the disclosure and publication by Reuters of information from confidential documents relating to a fund manager, Brevan Howard Asset...more

Private Arbitration Agreements which Prohibit Public Injunctive Relief Violate Public Policy and are Unenforceable Under...

by Foley & Lardner LLP on

In an April 5, 2017 unanimous opinion, the California Supreme Court (the “Court”) held that private arbitration agreements which prohibit public injunctive relief in any forum are contrary to California public policy and...more

What is the Effect of an Untimely Challenge to the Timeliness of a Trustee’s Sale?

by Snell & Wilmer on

Ever wonder what happens if a person challenges the timeliness of a trustee’s sale after the sale already occurred? Waiver of the argument of course! And, in the case of Wells Fargo Bank, N.A. v. Waltner, the affirmance of...more

McGill v. Citibank and Arbitration Agreements

On Thursday, April 7, 2017, in McGill v. Citibank, the California Supreme Court held that a pre-dispute arbitration agreement that waives the right to seek public injunctive relief is contrary to public policy and thus...more

Delaware Bankruptcy Court Issues Important Guidelines Concerning Payment of Indenture Trustee's Professional Fees

In Nortel Networks, Inc., Case No. 09-0138(KG), Doc. No. 18001 (March 8, 2017), the Delaware Bankruptcy Court ruled on the objections of two noteholders who asked the Court to disallow more than $4.4 million of the $8.1...more

Does “Act” Mean Also a Failure to Act?

by Dechert LLP on

No, says the U.S. Court of Appeals for the Tenth Circuit in In re Cowen, adopting the minority rule and parting ways with four other Courts of Appeals. The automatic stay provision of the Bankruptcy Code addressed in Cowen...more

Texas Bankers and Nebraska Retailer Fight Back Against “Troll-Like” ADA Title III Website Accessibility Litigation

by Seyfarth Shaw LLP on

Seyfarth Synopsis: Retailer and Texas bankers go on the offense in response to ADA Title III lawsuits and demand letters. Hundreds, possibly thousands, of banks, retailers, and other businesses have received demand...more

CFPB/NY AG lawsuit against RD Legal Funding may signal greater scrutiny of non-loan financial products such as merchant cash...

by Ballard Spahr LLP on

The CFPB and the New York Attorney General this week filed an action against RD Legal Funding, LLC, two of its affiliates, and their principal (collectively, “RD”), alleging that a litigation settlement advance product...more

First Department Confirms Hedge Funds Did Not Act in Bad Faith and Affirms Multi-Million Dollar Judgment Against CDS Counterpart

In Good Hill Master Fund L.P. v. Deutsche Bank AG, No. 600858/10-2188B, 2017 BL 19363 (App. Div. 1st Dep’t Jan. 24, 2017), the First Department unanimously affirmed a judgment entered in the Commercial Division of over $90...more

Real Property & Title Insurance Update: Week Ending January 20, 2017

by Carlton Fields on

REAL PROPERTY UPDATE - Foreclosure/Vacating Judgment: estate failed to either allege or prove any basis under Rule 1.540 to vacate final judgment of foreclosure to which it had consented – The Bank of N.Y. Mellon v....more

The Redemption 'Make Whole' Remedy Controversy – An Easy Fix

The new year has brought an unexpected controversy in an otherwise very issuer-friendly high yield bond market, one involving limiting the available remedies following default that were expanded in last year’s decision by the...more

Recent Cases Restrict Issuers' Ability to Avoid Paying Premiums

by White & Case LLP on

Indentures governing high yield and investment grade notes typically provide for a make-whole or other premium to be paid if the issuer redeems the underlying notes prior to maturity. The premiums are intended to compensate...more

Court Refuses To Enforce Arbitration Clause Due To Lack Of Mental Capacity

by Winstead PC on

In Oak Crest Manor Nursing Home, LLC v. Barba, a plaintiff sued a nursing home for negligently allowing a patient with mental disorders to leave the facility and jump from a bridge in an attempt to commit suicide. No....more

Complex Investment Product Training Materials Under Fire

by Carlton Fields on

In September 2016, the SEC imposed an approximately $15 million penalty and disgorgement (in total) against UBS Financial Services Inc. (UBS) as part of a settled action alleging that UBS failed to adequately train its...more

Brazil’s top court strikes down validity of arbitration clause in franchise agreement

by DLA Piper on

In a recent and potentially far-reaching decision, the Superior Tribunal of Justice – the highest court of Brazil for non-constitutional matters with responsibility for harmonizing interpretation of federal laws by the state...more

Real Property & Title Insurance Update: Weeks Ending November 18 & 25, 2016

by Carlton Fields on

REAL PROPERTY UPDATE - Settlement/Waiver: borrowers permitted to raise affirmative defenses and counterclaims against lender where subject Loan Modification Agreement failed to include waiver of claims, affirmative...more

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