Finance & Banking Civil Procedure

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Can an Unsigned Minute Entry Create a Judgment Lien?

It appears that 2014 was a banner year for Arizona law on judgment liens. Indeed, we recently posted about the Lewis v. DeBord decision, which invalidates judgment liens vis-à-vis third-party purchasers if the judgment...more

Supreme Court’s Trademark Tacking Decision: Possible Impact on Likelihood of Confusion?

The Supreme Court’s decision that juries should decide whether consumers would consider two marks to be the same for the purpose of trademark tacking may help resolve a split in the circuits as to whether the likelihood of...more

Supreme Court Revives LIBOR Antitrust Appeal in Gelboim et al. v. Bank of America Corp. et al.

On January 21, 2015, the Supreme Court of the United States issued a highly anticipated decision in a LIBOR-based antitrust class action suit allowing a plaintiff to immediately take a direct appeal from an order dismissing...more

Supreme Court Clarifies Timing of Appeals in MDL Cases

On January 21, 2015, the U.S. Supreme Court announced the definitive rule governing the timing of appeals from a multidistrict litigation proceeding (MDL). The Court held that plaintiffs in actions centralized in an MDL whose...more

Supreme Court Rules that Trademark “Tacking” Is a Question for the Jury

On January 21, 2015, the Supreme Court in Hana Financial, Inc. v. Hana Bank, No. 13-1211, unanimously held that whether different versions of a trademark may be “tacked” for purposes of determining priority is a jury...more

CanaSea Group: Full and Fair Disclosure Required in Ex Parte CCAA Applications

Applicants who seek ex parte relief under the Companies’ Creditors Arrangement Act (CCAA) have an obligation to make full and fair disclosure of all material facts to the court. ...more

Court Of Chancery Explains Borrowing Statute

There is perhaps no more confusing subject in Delaware non-corporate law than the application of the Delaware borrowing statute to statute of limitations issues. Under Supreme Court case law, the literal application of the...more

Post-Confirmation: Ignoring Court Orders Is Not A Good Idea

In re Castle Home Builders, Inc., 520 B.R. 98 (Bankr. N.D. Ill. 2014) – The debtors obtained confirmation of plans of reorganization that restructured prepetition mortgage loans.  When the servicer for some of the...more

Supreme Court Holds That Trademark Tacking is an Issue for the Jury

In trademark law, rights in a trademark are determined by the date of the mark’s first use in commerce, and the party who first uses the mark in commerce has priority over other users. Under the doctrine of "tacking," under...more

Supreme Court Starts 2015 Off with Focus on Facts Shaping Intellectual Property Disputes

The U.S. Supreme Court kicked 2015 off with an intellectual property bang, issuing two important rulings earlier this week. Both decisions focus on the facts underpinning intellectual property disputes—who decides them and...more

Who A-Tacks a Decision on Tacking? U.S. Supreme Court Rules That Tacking Trademarks to Gain Earlier First Use Is a Question Of...

It’s a historic week for trademarks!  On January 21, 2015, the U.S. Supreme Court issued a decision in the case of Hana Financial, Inc. v. Hana Bank, which marks the high court’s first substantive ruling on trademarks in more...more

In Teva Pharmaceuticals USA, Inc. And Hana Financial, Inc., The Supreme Court Issues Two IP Decisions – One Deferring To Trial...

This week, the Court rendered two IP opinions in Teva Pharmaceuticals USA, Inc. v. Sandoz, Inc., No. 13-854 (argued October 15, 2014) and Hana Financial, Inc. v. Hana Bank, No. 13-1211 (argued December 3, 2014) . Teva...more

Who Decides Whether New Claims Are Precluded By Old Arbitration? An Arbitrator, Says 2d Circuit

We all know that the doctrines of issue preclusion (collateral estoppel) and claim preclusion (res judicata) apply with equal force to both arbitration awards and court orders. But, if your adversary brings new claims that...more

Supreme Court Decides Gelboim v. Bank of America Corp.

On January 21, 2015, the Supreme Court of the United States decided Gelboim v. Bank of America Corp., No. 13-1174, holding that, because cases consolidated for multidistrict pretrial proceedings ordinarily retain their...more

“Appraisal Arbitrage” Receives Boost from Delaware Court of Chancery

An increasingly popular hedge fund strategy, commonly referred to as “appraisal arbitrage,” recently received a significant boost from the Delaware Court of Chancery. Appraisal arbitrage refers to the practice of buying...more

Indiana Department of Revenue Rules Forced Disposition is Nonbusiness Income

In Letter of Finding No. 02-20140306 (Dec. 31, 2014), the Indiana Department of Revenue (Department) determined that income from the sale of two operating divisions of a business pursuant to an order of the Federal Trade...more

Patent Infringement Lawsuit Reminds ERISA Fiduciaries to Monitor Service Providers

In August 2014, GRQ Investment Management, LLC (GRQ) sued Financial Engines, Inc. and Financial Engines Advisors, LLC (collectively, Financial Engines), alleging that Financial Engines’ sale of account management and advisory...more

Financial Services Weekly News Roundup - January 2015 #3

Editor’s Note - The Supreme Court Halts Challenge by Retailers to the Debit Card Interchange Fee Rules: On January 20, 2015, the Supreme Court denied certiorari to a challenge by retailers to debit card interchange fee...more

State AGs Take Sides as U.S. Supreme Court Hears Housing Discrimination Case

On January 21, 2015, the U.S. Supreme Court will hear argument in Texas Department of Housing and Community Affairs v. Inclusive Communities Project, on the question of whether disparate impact claims for discrimination are...more

Orrick's Financial Industry Week in Review

ESMA Publishes Final Technical advice on the MiFID II Directive and MiFIR - On December 19, 2014, the European Securities and Markets Authority (ESMA) published final technical advice (ESMA/2014/1569) to the European...more

A New Year and a New Arizona Anti-Deficiency Statute

In 2014, the Arizona Legislature enacted significant changes to the anti-deficiency statutes, which protect certain residential borrowers from a deficiency judgment following foreclosure. These statutory changes, which apply...more

The Seventh Circuit Interprets Wisconsin Exemption Law on College Savings Accounts and Retirement Annuities, but Did It Have...

As we explained in a post yesterday, the Seventh Circuit in In re Bronk (Cirilli v. Bronk), No. 13-1123 (7th Cir. Jan. 5, 2015), made some new law on Wisconsin’s college savings account (Edvest) and annuity exemptions for...more

Quirky Question #251, Naming Names in SEC Filings?

Question: Our publicly traded company must file a disclosure with the SEC, and we’re trying to determine what information to include regarding recent charges of discrimination that former employees have filed with the...more

Supreme Court Holds Dismissal of Individual Case in MDL Proceedings Is Immediately Appealable

The U.S. Supreme Court unanimously held yesterday in Gelboim v. Bank of America Corp., No. 13-1174, that an order disposing of an individual case previously consolidated with other cases for multidistrict litigation (MDL)...more

UK: Data Protection - Information Tribunal rule on FOIA exemptions concerning the Tate Gallery and BP

The First-tier Tribunal (Information Rights) has considered whether the Tate Gallery was exempt from disclosing information concerning sponsorship and meeting minutes to BP under sections 41(1) and 43(2) of the Freedom of...more

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