Finance & Banking, Wills, Trusts, & Estate Planning, Civil Procedure

New York State Court Allows Trustee Lawsuit Against DB Structured Products to Proceed

by Orrick - Structured Finance Group on 5/20/2013

On May 13, Justice Kornreich of the Supreme Court of the State of New York denied DB Structured Products, Inc.’s (DBSP) motion to dismiss an RMBS putback action brought against it by the trustee for the relevant RMBS trust. ...more

Carrigan Case: Supreme Court of Canada Dismisses Leave to Appeal

by Douglas Rienzo | Osler, Hoskin & Harcourt LLP on 3/29/2013

This morning, the Supreme Court of Canada dismissed the application for leave to appeal in Carrigan v. Carrigan Estate. As a result, the Ontario Court of Appeal’s new interpretation of the priority scheme for the payment of...more

New Concerns for Bondholders, Lenders and Other Creditors Following SCC’s Indalex Decision

by Richard Orzy, Raj Sahni, Kevin Zych | Bennett Jones LLP on 2/13/2013

On February 1, 2013, the Supreme Court of Canada (SCC) released its much-awaited decision in the Indalex case. While the central issue in Indalex was the priority of wind-up deficiencies in defined benefit pension plans...more

Supreme Court of Canada Affirms Federal Paramountcy in Insolvency but Leaves Uncertainty for the Credit Community Regarding...

by Anthony Devir, Edward Sellers | Osler, Hoskin & Harcourt LLP on 2/1/2013

The Supreme Court of Canada released its highly anticipated decision in Indalex Limited (Re) this morning. The ruling stemmed from an appeal of an Ontario Court of Appeal decision that had created commercial uncertainty...more

Municipal Pensions II: Do Survivors' Pensions Increase Whenever the Salary For the Position Does?

by Kirk Jenkins | Sedgwick LLP on 12/15/2012

Our previews of the new civil cases granted review at the end of the Illinois Supreme Court’s November term continue with Hooker v. Retirement Fund of the Firemen's Annuity and Benefit Fund of Chicago,. Hooker poses the...more

Rogers Towers: Using Contempt Power to Force Repatriation of Offshore Trust Assets

by Jacob J. Payne | Rogers Towers on 12/13/2012

Offshore asset protection trusts (OAPT) typically have the following characteristics: (1) the trust is governed by the laws of a foreign jurisdiction that does not recognize the judgments or orders of courts of the United...more

Delaware Federal Court Issues Important Post-Price Dawe Opinion

by Orrick, Herrington & Sutcliffe LLP on 7/18/2012

In a memorandum opinion issued in Principal Life Insurance Company v. Lawrence Rucker 2007 Insurance Trust on June 26, 2012, a federal district court applied the Delaware Supreme Court’s holding in PHL Variable Life Insurance...more

Supreme Court Finds No Extended Limitations Period for Basis Overstatement

by Cole Schotz on 5/1/2012

The U.S. Supreme Court recently held that an overstatement of basis did not trigger the extended six-year statute of limitations assessment period under Internal Revenue Code Section 6501(e)(1)(A) (United States v. Home...more

GAAR Did Not Apply In Respect of Capital Gains Allocated to Minor Beneficiaries of a Family Trust

by Dentons on 3/30/2012

On March 21, 2012 the Tax Court of Canada issued judgment in the decision of McClarty Family Trust et al v. The Queen. The Minister of National Revenue (the “Minister”) had applied the general anti-avoidance rule (the “GAAR”)...more

Wealth Management Update -- February 2012

by Proskauer Rose LLP on 2/28/2012

In This Issue: - February Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts - IRS Issues Notice 2011-101 - IRS Issues Final Form 8938 -...more

Supreme Court Of Canada To Hear Indalex Appeal

by Osler, Hoskin & Harcourt LLP on 12/2/2011

The Supreme Court of Canada has granted leave to appeal the decision of the Ontario Court of Appeal in Re Indalex. In its April 2011 ruling, the Court of Appeal held that the entire amount an employer is required to...more

Wealth Management Update -- November 2011

by Proskauer Rose LLP on 11/25/2011

IN THIS ISSUE: - November Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts - Estate of Turner v. Comm'r, T.C. Memo 2011-209 (Aug. 30, 2011) ...more

Corporate and Financial Weekly Digest - October 21, 2011

by Katten Muchin Rosenman LLP on 11/22/2011

In this issue; - ISS Publishes Proposed Changes to Proxy Voting Policies - SEC’s Division of Corporation Finance Issues Bulletin Regarding Legal and Tax Opinions - Derivatives Clearing Organization General...more

Recent Trust Law Decisions in the Court of Appeal

by Dechert LLP on 8/3/2011

A recent Court of Appeal ruling could mean higher legal costs for trustees and expose investment managers or advisers with trustees among their clients to increased liability. Thousands of UK trustees, including those...more

UCC Case Law Update

by Jackson Walker on 2/11/2011

We have recently seen some potentially significant Uniform Commercial Code (UCC) decisions in Texas in the last few months which may be of interest to our financial institution clients. We have given a brief synopsis of these...more

Trustee's Establishment of Litigation Reserve Deemed Reasonable Under The "Prudent Man" Standard

by Sheppard Mullin Richter & Hampton LLP on 6/25/2010

In Bluebird Partners, L.P. v. Bank of New York, Index No. 1996-601016, 2010 NY Slip Op 31407(U) (Sup Ct, NY County, June 7, 2010), Justice Eileen Bransten of the New York Commercial Division, granted a summary judgment motion...more

Can We Sue for Attorney's Fees . . . .

by Michael Burger on 12/12/2006

The law surrounding recovery of legal expenses incurred during litigation in New York State courts....more

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Finance & Banking › Wills, Trusts, & Estate Planning › Civil Procedure