Finance & Banking Law | JD Supra Legal News, Updates, Analysis, & Information

Liberalizations Decree: Main Relevant Changes and Powers of the Italian Competition Authority

by McDermott Will & Emery on 5/23/2012

The main developments in antitrust are: 1. Merger Control (Art. 5-bis); From 1 January 2013: The Italian merger control thresholds will be cumulative and no longer alternative (i.e. the combined...more

Supreme Court Addresses Circuit Split Over Cramdown Plans Precluding Credit Bidding

by Duane Morris LLP on 5/23/2012

In a docket crowded with blockbuster cases this term, the Supreme Court's decision concerning the circuit split over cramdown plans precluding credit bidding by secured lenders may not stoke as much passion or fury as the...more

M&A and Private Equity Update

by Akerman Senterfitt on 5/23/2012

This year’s edition reflects relative consistency of national trends with the prior year. While aggregate transaction activity nationally in 2011 was only marginally higher than in 2010, we are pleased that our clients...more

Court Issues $35M Award Against Plan Fiduciaries for Excessive Fees

by Reed Smith on 5/23/2012

A recent decision, Tussey v. ABB, Inc., 2012 WL 1113291 (W.D. Mo. 3/31/2012), has drawn much attention in the retirement plan community. In Tussey, a U.S. District Court found that ABB, Inc., along with several of the...more

Beware of Debtors Bearing Gifts: Eleventh Circuit Upholds TOUSA Bankruptcy Decision

by Miller Canfield on 5/23/2012

Sleep better at night knowing that the loan you made to your borrower is supported by collateral from the borrower’s subsidiaries? You may want to keep one eye open. On May 15, 2012, the U.S. Court of Appeals for the Eleventh...more

Assured Guaranty Sues GMAC Entities in Connection with RMBS Insurance

by Orrick, Herrington & Sutcliffe LLP on 5/22/2012

On May 11, 2012, Assured Guaranty filed suit in the United States District Court for the Southern District of New York against several GMAC entities alleging that the defendants induced Assured to issue financial guaranty...more

IKB Brings Two RMBS Lawsuits Against Bank of America and Related Entities

by Orrick, Herrington & Sutcliffe LLP on 5/22/2012

On May 15, 2012, IKB Deutsche Industriebank AG and an IKB affiliate filed two lawsuits against Bank of America and related entities in the New York Supreme Court. The first, in which several Countrywide entities are also...more

Akanthos: Eleventh Circuit Denies Noteholders’ Fraudulent Transfer Claims due to No-Action Clause in Indenture

by Cadwalader, Wickersham & Taft LLP on 5/22/2012

On April 25, 2012, the U.S. Court of Appeals for the Eleventh Circuit overturned a decision by the U.S. District Court for the Northern District of Georgia permitting noteholders to proceed with a fraudulent transfer suit...more

How to Stop Wage Garnishment

by Harold Shepley & Associates, LLC on 5/22/2012

Wage garnishment can be a very distressing event. Wage garnishment means that a creditor has gone to court and gotten a judgment against you, and you haven’t paid. The creditor can then go back to court and get an order of...more

Why Won’t Anyone Just Follow The Rules: Ninth Circuit Bankruptcy Appellate Panel overturns the absolute priority rule in...

by Snell & Wilmer L.L.P. on 5/21/2012

Originally published in the Orange County Business Journal April 30 - May 6, 2012. A fundamental principle of commercial lending holds that debt should be repaid prior to any return on equity. If a borrower cannot...more

Auto Finance May Be DOJ’s Next Focus in SCRA Enforcement

by Ballard Spahr LLP on 5/17/2012

The Department of Justice’s recent announcement that two towing companies have settled an action alleging violations of the Servicemembers Civil Relief Act (SCRA) may portend further SCRA enforcement actions by the DOJ in the...more

FTC Holder Rule opinion may guide CFPB

by Ballard Spahr LLP on 5/17/2012

On May 3, the Federal Trade Commission issued an advisory opinion interpretating its Holder Rule (officially titled the Trade Regulation Rule Concerning Preservation of Consumers’ Claims and Defenses). The Holder Rule...more

9th Circuit: Equitable Remedies Post-Amara — Mere Violations of Law Do Not Establish “Harm” Justifying Equitable Remedies

by Lane Powell PC - ERISA Law on 5/17/2012

What equitable remedies are available to plan participants? As you probably know, CIGNA v. Amara, 131 S.Ct. 1866, 1878-80 (2011) contains dicta that can be viewed as expanding the range of “equitable relief” available to...more

TOUSA Appeal: 11th Circuit Reinstates Bankruptcy Court’s Fraudulent Transfer Opinion as Against All Defendants

by Bracewell & Giuliani LLP on 5/16/2012

TOUSA involved one of the largest fraudulent transfer litigations in bankruptcy history. The Bankruptcy Court agreed with the Unsecured Creditors’ Committee that both the so-called “New Lenders” and the “Transeastern Lenders”...more

Bankruptcy Court in Illinois Holds that a Mortgage is Avoidable in Bankruptcy if the Mortgage as Recorded Does Not State the...

by Reed Smith on 5/16/2012

In a decision that potentially has serious implications for mortgage financing transactions in Illinois, the Bankruptcy Court for the Central District of Illinois recently held that a mortgage is avoidable in bankruptcy if it...more

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Finance & Banking – May 23, 2012

Narrowed by: Civil Remedies