General Business Civil Procedure Conflict of Laws

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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

Will Madden v Midland Disrupt Loan Sales and Platform Lending?

Where do marketplace lenders and secondary loan market participants find themselves on the issue of preemption of state usury laws after the June 27 denial of the petition for a writ of certiorari in Madden v. Midland by the...more

Madden Uncertainty Remains for Secondary Loan Market

The US Supreme Court last week delivered another blow to the unsteady secondary loan market industry by denying a request for certiorari in an important case for banks and buyers and sellers of loans and other debt...more

Banks and Marketplace Lenders Absorb a Blow

In a blow to banks and the marketplace lending industry, on June 27, 2016, the U.S. Supreme Court denied the petition by Midland Funding to hear the case Midland Funding, LLC v. Madden (No. 15-610). That case involves a...more

The federal-state energy regulatory divide: The new order after Learjet, EPSA and Hughes

In three recent decisions (the Three Decisions), the US Supreme Court (the Court) drew a sharp dividing line between the authority of the Federal Energy Regulatory Commission (FERC or Commission) and that of the states to...more

Does “Valid When Made” Apply To Evidences Of Indebtedness Qualified Under The CSL?

Many have expressed disappointment that the U.S. Supreme Court denied certiorari in Midland Funding, LLC v. Madden. The question presented by the petitioners in the case was as follows...more

SCOTUS Declines Hearing Madden: Are Industry Repercussions Limited?

In a disappointing move, the Supreme Court today denied the petition by Midland Funding to hear the case Madden v. Midland Funding. But could the inaction by the Supreme Court be much ado about nothing?...more

Score One for the NLRB: Seventh Circuit Becomes First Federal Appeals Court to Hold that Class/Collective Action Waivers in...

The Seventh Circuit recently became the first federal appellate court to say that employers can’t prevent class/collective actions through waivers in mandatory arbitration agreements, holding that such waivers interfere with...more

Update: Midland Funding v. Madden

In an amicus curiae brief, the US Solicitor General recommends that the petition for certiorari in Madden be denied, but agrees that the Second Circuit’s decision is incorrect and emphasizes the importance of banks being able...more

Justice Department Sides With Financial Industry on Madden Case

Marketplace loan investors may want to "gather ye discounted Madden loans while ye may," as the Robert Herrick poem reads (taking some fintech license, of course). In the strongest rebuke yet of the U.S. Court of Appeals...more

ERISA: Reviewing What Needs to Be Proved to Establish the Suicide Exclusion

For many reasons, some of the toughest cases to litigate involve the application of the suicide exclusion. There is a growing body of evidence challenging suicide exclusion determinations....more

The ERISA Litigation Newsletter - April 2016

Editor's Overview - This month we feature three key developments. First, we review the U.S. Supreme Court's decision in Gobeille v. Liberty Mut. Ins. Co., 136 S. Ct. 936, 947 (2016) wherein the Supreme Court held that a...more

New York’s Highest Court Enforces Arbitration Provision in California Workers’ Compensation Insurance Agreement, Rejecting...

A recent ruling by the New York State Court of Appeals underscores the Federal Arbitration Act’s(“FAA”) strong policy favoring enforcement of arbitration agreements—even in the insurance industry and despite federal policy...more

Sign O’ The Times: SCOTUS Denies Cert In Franchise Arbitration Dispute

On Monday of this week, after stringing the parties along for five months, SCOTUS denied cert in a case involving the intersection between arbitration and franchise regulation. The petition was filed in November of 2015,...more

Ever-Expanding Safe Harbor Leaves Creditors’ Claims Stranded at Sea

Second Circuit holds that Bankruptcy Code preempts creditors’ state law constructive fraud claims. On March 29, 2016, the Second Circuit issued its opinion in In re Tribune Company Fraudulent Conveyance Litig.,...more

Madden Update – Petition Request Bodes Well for High Court Review but Raises New Questions

The US Supreme Court’s recent request for an opinion from the US Solicitor General to help inform the Court’s decision on whether to review the Second Circuit’s decision in Madden v. Midland Funding, LLC indicates that the...more

Southern District of New York Weighs In on Preemption Under the Dodd-Frank Act

In Edwards v. Macy’s, Inc., — F. Supp. 3d —, 2016 WL 922221 (S.D.N.Y. Mar. 9, 2016), the U.S. District Court for the Southern District of New York recently held that state law claims arising from plaintiff’s enrollment in a...more

U.S. Supreme Court Ruling Upholds Arbitration Over Class Action Litigation

SUPREME COURT UPHOLDS CLASS ARBITRATION WAIVERS - With its ruling on December 14, 2015, the Supreme Court continues to protect arbitration as a means of dispute resolution by cracking down on attempts to circumvent the...more

Think Mink, part 2: Florida Federal Court Slams Door on Parallel Claims

Last November we blogged about "specialized" preemption issues in several cases, including Mink v. Smith & Nephew, Inc., 2015 WL 7356285 (S.D. Fla. Nov. 19, 1015). The plaintiff in Mink claimed physical injuries from a...more

New York Court Of Appeals Finds Mccarran Ferguson Act Does Not Reverse Preempt The FAA With Respect To California Insurance Code §...

In an action to compel arbitration under payment agreements entered into between National Union and its insured, the New York Court of Appeals held the determination of arbitrability was not barred by the McCarran Ferguson...more

English High Court Rejects Challenge to Arbitral Award on Basis of Apparent Bias

A recent case raised an interesting issue regarding the relationship between English law, which suggested there was no apparent bias, and the International Bar Association Guidelines on Conflicts of Interest in International...more

Have Your Cake and Eat It, Too? Handbook Contract Disclaimers & Mandatory Arbitration Policies

A New Jersey court recently used the so-called contract “disclaimer” language in an employer’s handbook to preclude the employer from enforcing a mandatory arbitration program contained in that same handbook. The court’s...more

Madden Tells SCOTUS That Marketplace Lenders Should Not Worry About Madden

As the Marketplace Lending (MPL) industry gears up for the upcoming conference trifecta – ABS Vegas, AltFi Europe and LendIt USA 2016, the effect of the Midland Funding, LLC et al. v. Saliha Madden case and its pending appeal...more

Article: February 2016: Class Action Litigation Update: Supreme Court Upholds Arbitration Agreement in DIRECTV Case.

The Supreme Court recently added another decision to a growing body of law reversing state courts for refusing to enforce arbitration agreements. The decision, DIRECTV v. Imburgia, 135 S. Ct. 1547 (2015), concerned the...more

The InterConnect Flash! No. 53 - February 2016

2 Steps Back — First Circuit Could Have Done More for the Independent Contractor Business Model - Approximately one year ago in FLASH No. 46, we wrote about Massachusetts District Court Judge Robert G. Stearns’ industry...more

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