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HOA Lien Extinguishes First Deed of Trust in Foreclosure, Nevada Supreme Court Holds

On the heels of a recent D.C. Court of Appeals ruling, the Nevada Supreme Court issued an opinion yesterday holding that a homeowners association (HOA) lien is a true super-priority lien that, if foreclosed upon, extinguishes...more

What Does “Sprawling Litigation” Look Like?

It looks like what you’d expect: a bunch of litigants spending lots of time at a courthouse in Goliad, Texas, with no end in sight. After much ”sprawl” in Harkins v. Northshore Energy it came down to the meaning of this...more

Texas Supreme Court Argument Preview (9/14)

13-0080, RSUI Indemnity Co. v. The Lynd Co. - The primary issue in this insurance coverage case is how the policy limits of an excess property insurance policy should be calculated. The policy at issue covers multiple...more

Pennsylvania Court Addresses What Is a Coverage Dispute for Appraisal Purposes

Last month, a Pennsylvania federal court rejected the notion that a dispute over whether an admittedly covered occurrence necessitated repair of certain discrete portions of the damaged structure was a coverage dispute,...more

Drilling at depth – proposed changes to subterranean rights

The government’s consultation on underground drilling access for the extraction of gas, oil and geothermal energy came to an end on 15 August 2014. The consultation sought views on the government’s proposal to introduce new...more

Florida’s Fifth District Court of Appeal Holds “Wrongful Conduct” on Behalf of Insurer is Necessary Prerequisite to an Insured’s...

In Omega Insurance Co. v. Kathy Johnson, 2014 Fla. App. Lexis 13737 (Fla. Dist. Ct. App. 5th Dist. Sept. 5, 2014), the Fifth District reversed a Marion County trial court’s grant of attorneys’ fees based upon Omega’s...more

FinCrimes Update - August 2014 Summary, Volume 1, Issue 6

In This Issue: - BSA/AML & OFAC - Virtual Currency & Payment Systems - FCPA & Anti-Corruption - Criminal Enforcement - Excerpt from BSA/AML & OFAC: FINCEN PUBLISHES LONG-AWAITED...more

Orrick's Financial Industry Week in Review

ESMA Publishes Guidelines on the EU Implementation of CPSS-IOSCO Principles - On September 4, ESMA published the translation of guidelines and recommendations on implementing the principles for financial market...more

Florida Appellate Court: “Coverage Liability” Can Be Basis for Bad Faith in Suit Involving First Party Appraisal

On Wednesday, Florida’s Fourth District Court of Appeal issued an opinion concerning the prerequisites for bringing bad faith claims in Florida. In an en banc ruling, the Court held in Cammarata v. State Farm Florida Ins....more

Florida Fourth District Court of Appeal Affirms Summary Judgment for Insurer Based upon Insured’s Failure to Submit a Timely Proof...

In Lloyd Oliver Hunt & Deborah Hunt v. State Farm Florida Ins. Co., 39 Fla. L. Weekly D1762b, (Fla. 4th DCA 2014), the Fourth District affirmed a Broward County trial court’s grant of summary judgment based upon the insureds’...more

Southeast State & Local Tax: Important Developments - August 2014

The Williams Mullen Southeast State and Local Tax (SESALT) team is pleased to provide you with a comprehensive recap of important tax developments around the Southeast....more

If Rainwater Lands Where it Doesn’t Belong, It’s Still “Surface Water” in the Eleventh Circuit

The Eleventh Circuit recently affirmed a decision of the Southern District of Georgia, finding an insured’s claim for water damage fell within an exclusion for loss or damage caused by “surface water.” In Williams v. State...more

Mortgage Loans: Deutsche Bank v. Quicken Loans

We previously posted about ACE Securities Corp. v. DB Structured Products, Inc., 977 N.Y.S.2d 229, 231 (N.Y.A.D. 1st Dept. Dec. 19, 2013), which is a critical ruling out of New York’s intermediate state appellate court. In...more

The Brave New World of Consumer Compliance

Compliance has changed from a checklist-based, technical science to a principles-based, qualitative art. Gone are the days when an institution that is compliant with all substantive consumer protection laws can breathe easy;...more

Orrick's Financial Industry Week in Review

No Intervention for Class of Homeowners in Suit Against HSBC - On August 25, 2014, Judge Denise Cote of the U.S. District Court for the Southern District of New York denied a motion brought by a class of putative...more

Texas Limits Scope of Anti-Technicality Statute and Material Breach Doctrine in Vacancy Clause Case

Last week, the Texas Supreme Court handed down an opinion that involved two unique (and somewhat troublesome) creatures of state law – the so-called “anti-technicality” statute and the material breach doctrine – and in Greene...more

NY Joins Texas In The Broad Use Of Appraisal

Virtually all property insurance policies include an appraisal provision to resolve disputes over the “amount of loss” for a covered claim. Historically, the phrase “amount of loss” was interpreted to limit appraisal to those...more

Breach of Contract Claims against J.P. Morgan and EMC Dismissed as Time-Barred

On August 19, in an oral ruling from the bench, Vice Chancellor J. Travis Laster of the Delaware Chancery Court dismissed as time-barred loan repurchase claims brought by U.S. Bank as trustee of an RMBS trust against JPMorgan...more

Pennsylvania Supreme Court Rules Only Original Purchasers May Recover Damages for Breach of the Builder’s Implied Warranty of...

The Pennsylvania Supreme Court ruled that a builder’s implied warranty of habitability extends only to the initial buyer of a home, and not to subsequent purchasers. In Conway v. The Cutler Group, Inc., the Court reversed an...more

Current Florida Sinkhole Statute Held to Apply Even Though Policy Used Prior Statute’s Formulation

Florida adopted a stringent, five-part definition of what constitutes a covered sinkhole loss in 2011, but many policies continue to employ the 2005 statutory formulation which merely defined “sinkhole loss” as “structural...more

Should You Pay for Something You’re Not Getting? The Pennsylvania Supreme Court Will Take Up Shedden v. Anadarko E&P Company, L.P.

The Pennsylvania Supreme Court will consider whether an oil and gas lessee’s refusal to pay a “bonus” on acreage that the lease supposedly conveyed to it, but that the lessor did not own at the time of leasing and had not...more

NAIC Report – 2014 Summer National Meeting

The National Association of Insurance Commissioners (NAIC) met for its Summer National Meeting in Louisville, Kentucky, August 14-19. International regulatory standards were a prime focus of the meeting, as the International...more

The Napa Earthquake: Now Is The Time To Think About Insurance Coverage

In the aftermath of this weekend’s earthquake, we at Farella Braun + Martel would like to offer our insights. If you have a business that was affected by the earthquake, now is the time to look at your insurance policies,...more

Who Will Think of the Tenants: Split in Authority Regarding the Interplay Between Bankruptcy Code Sections 363(f) and 365(h)(1)(A)

A useful tool granted to trustees (and debtors-in-possession) in bankruptcy is the ability to assume or reject leases.1 The trustee can exploit this power to the estate's economic advantage, either assuming or rejecting the...more

Pennsylvania Supreme Court Holds Contractor May Recover in Quantum Meruit Where Home Improvement Contract Does Not Satisfy...

Homeowners Raymond and Donna Mantia contracted Shafer Electric & Construction (“Shafer”) to build a two-car garage addition onto their house. Shafer’s proposal was extremely detailed as to the work to be completed. Despite...more

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