Civil Remedies

Read Finance & Banking Law updates, alerts, news, and legal analysis from leading lawyers and law firms:

News & Analysis as of May 20, 2013

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

Fifth Circuit Rules that Inherited IRAs Are Exempt under Code

by Butler, Snow, O'Mara, Stevens and Cannada,... on 6/8/2012

Originally posted in the ABI Journal, Vol. XXXI, No. 5, June 2012. Editor’s Note: For additional perspective on inherited IRAs, read the May 2011 cover article and a letter to the editor published in the July/August 2011...more

Wealth Management Update - May 2012

by Proskauer Rose LLP on 5/3/2012

A monthly report for wealth management professionals. In This Issue: - May Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts...1 - Wandry v....more

High Net Worth Family Tax Report - April 2012, Vol. 7 No. 1

by Loeb & Loeb LLP on 4/25/2012

In This Issue: - $5,120,000 Lifetime Gift Tax Exemption Expiring Soon We recently circulated this article as a Special Client Alert. The resetting of the lifetime gift-tax exemption back to $1 million from...more

Los Angeles Targets Trustee to Clean-Up Housing Mess

by Reed Smith on 7/29/2011

The People of the State of California and The City of Los Angeles (collectively, the "Plaintiff") are seeking to hold Deutsche Bank National Trust Company and Deutsche Bank Trust Company Americas, as trustee under hundreds of...more

BofA Settlement Information

by Lowenstein Sandler LLP on 7/1/2011

As you likely are aware, this past Wednesday (June 29th) Bank of America (BofA) announced an agreement to resolve nearly all of its repurchase and servicing exposure for legacy Countrywide-issued first-lien residential...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

Wealth Management Update -- January 2012

by Proskauer Rose LLP on 1/15/2011

IN THIS ISSUE: - IRS issues Revenue Ruling 2011-28 - January Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts - IRS Issues Proposed...more

Creditors' Claims Against Deceased Debtors: A Brief NC Guide

by Poyner Spruill LLP on 7/13/2010

In most cases, the rights of creditors against debtors are enforced through traditional collection suits, foreclosures, or other like actions. However, when the debtor is deceased, the procedures for creditors hoping to...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