General Business Finance & Banking Civil Procedure

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Four Things Companies Should Know About the SEC’s 2015 Whistleblower Report

The SEC recently published data showing significant increases in tips received under its Dodd-Frank Whistleblower Program. Released on November 16, the 2015 annual report also provided important guidance to companies on the...more

Applying The "Common Legal Interest" Privilege In The Context Of A Financial Transaction

Sophisticated and complex commercial litigation and criminal investigations often involve many participants and their lawyers. In these cases, it is often beneficial for the lawyers to share confidential information pursuant...more

What's In A Name? The Case Of "On-Demand" Performance Bonds

A bank's attempt to characterise performance bonds as guarantees failed in a further example of the English Court's strict approach to construction of "on-demand" payment obligations. In a decision which provides some...more

Deputy Attorney General Yates Expands on DOJ’s White-Collar Prosecution Policy

On November 16, the DOJ’s Deputy AG Sally Yates delivered remarks at the American Bankers Association and American Bar Association Money Laundering Enforcement Conference. Yates focused her remarks on recent revisions –...more

Can A Receiver Be Appointed To Take Possession And Safeguard Transferred Property Pending Trial Of A Fraudulent Transfer Action?

QUESTION: I know receivers often bring actions to set aside fraudulent transfers and recover the property transferred, but can a receiver be appointed in a fraudulent transfer lawsuit to take possession of and safeguard...more

California Court of Appeal holds certain class action waivers may be unenforceable

Class action waivers have become common in consumer contracts, including sales agreements to purchase newly constructed residences and employment agreements, which may also contain arbitration clauses. After last year’s...more

OLG München entscheidet im Richtungsstreit über die Vertretung der InvKG: Die Gesellschaft wird durch ihre Organe gesetzlich...

Das Oberlandesgericht München hat in einem Urteil vom 1. Oktober 2015 (23 U 1570/15, das Urteil finden Sie unter diesem Link) entschieden, dass die extern verwaltete geschlossene Investment-Kommanditgesellschaft gesetzlich...more

Lincoln General Insurance Company Enters Liquidation in Pennsylvania

The Insurance Commissioner of Pennsylvania has placed Lincoln General Insurance Company into liquidation in Pennsylvania. As a result, the Insurance Commissioner as Liquidator takes over the property, business, and affairs of...more

Hague Convention on Choice of Court Agreements

On October 1, 2015, the Hague Convention on Choice of Court Agreements (the “Convention”) entered into force. The Convention binds Mexico and all members of the European Union, with the exception of Denmark. Even though...more

Establishing the Application of The Foreign Sovereign Immunities Act’s Arbitration Exception

On October 7, 2015, the United States Court of Appeals for the District of Columbia Circuit issued the mandate on its opinion affirming the judgment of the United States District Court for the District of Columbia confirming...more

U.S. Supreme Court Denies S&P Investors’ Petition for Certiorari

On November 2, 2015, the United States Supreme Court denied investors’ petition for review of a Second Circuit decision affirming the dismissal of their class action against Standard & Poor’s Rating Services’ parent,...more

Goldman Sachs Settles CDO Class Action

On November 3, 2015, Goldman Sachs Group Inc. agreed to settle a lawsuit brought by a class of investors over Goldman’s sale of two collateralized debt obligations. The settlement agreement comes on the heels of a September...more

First Guilty Verdict for Dodd-Frank “Spoofing” Violations

Coscia, the founder of Panther Energy, LLC, allegedly created two computer algorithms that posted orders to the Chicago Mercantile Exchange and ICE Futures Europe with the goal of canceling them before they could be executed....more

Orrick's Financial Industry Week in Review

Case Update: Madden v. Midland Funding - ?On May 22, 2015, the U.S. Court of Appeals for the Second Circuit held in Madden v. Midland Funding that the federal preemption provision of the National Bank Act, 12 U.S.C. §...more

U.S. Supreme Court hears oral argument in Article III standing case

Last week, the U.S. Supreme Court heard oral argument in Spokeo, Inc. v. Robins, an important case presenting the question of whether a plaintiff who cannot show any actual harm from a violation of the Fair Credit Reporting...more

Practical Considerations When Enforcing Judgments

This article addresses practical considerations involved in the enforcement of judgments and identifies common traps that could land lawyers and their clients in hot water. We begin with pre-suit considerations for evaluating...more

There Are Limits: Florida First District Court of Appeal Upholds Discovery Limitations

In CQB, 2010, LLC v. Bank of New York Mellon, the Florida First District Court of Appeal provides guidance on discovery limitations in foreclosure actions. In CQB, the petitioner, the defendant in a foreclosure proceeding,...more

New York Law Governed Bonds are Sufficient “Property” for U.S. Bankruptcy Court Jurisdiction

To qualify as a “debtor” under the U.S. Bankruptcy Code, an entity must reside, have a place of business or property in the U.S. It is common for non-U.S. entities that file for chapter 11 protection to rely on the “property”...more

Reach of Contractual Jury Trial Waivers Narrowed By Alabama Supreme Court

In Ex Parte Acosta, No. 1140200, — So. 3d —, No. 1140200, 2015 WL 3537476 (Ala. June 5, 2015), the Alabama Supreme Court refused to incorporate a jury trial waiver from a collateral loan document into a Promissory Note. ...more

Assignments Of PACA Claims: New Opportunities For Unpaid Produce Sellers, Credit Insurance Companies, Claims Purchasers & Others

The Perishable Agricultural Commodities Act (“PACA”) is an invaluable tool for produce sellers to ensure repayment for goods sold and delivered. Traditionally, it has been used by sellers of produce to recover against...more

U.S. Supreme Court Oral Argument in Spokeo, Inc. v. Robins

This morning the U.S. Supreme Court heard oral arguments in Spokeo, Inc. v. Robins, No. 13-1339. As our loyal blog readers know, this is a case that corporate counsel need to follow closely in light of the stakes for the...more

Barclays Bids to Halt High-Frequency Trading Class Action in Its Tracks

A high-profile class action against Barclays over so-called high-frequency trading is heading into a key phase this month, with the court set to decide plaintiffs’ motion for class certification—a pivotal moment in the case’s...more

CFPB Orders Auto Finance Company to Pay Over Three Million for Alleged Unfair Debt Collection Practices

On October 28, the CFPB filed an administrative order against an Ohio-based auto lender specializing in extending credit to servicemembers. The CFPB alleged that the company violated the CFPA by engaging in unfair, abusive,...more

Torts – Effect of Howell Decision on Purchased Medical Liens

Anna Uspenskaya v. Clare Meline - Court of Appeal, Third District (October 28, 2015) - Howell v. Hamilton Meats & Provisions, Inc. (2011) 52 Cal.4th 541 was a landmark case in which the California Supreme Court...more

Update on arbitration SBREFA panel

The CFPB has now taken two more significant steps towards issuing a proposed arbitration rule. On October 20, 2015, the CFPB convened its Small Business Regulatory Enforcement Fairness Act (SBREFA) panel to review the...more

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