Assignments

An assignment is the transfer of a right or benefit from one party to another party. Assignments can occur in contract or real estate contexts.  A contract assignment refers to a situation where one party to... more +
An assignment is the transfer of a right or benefit from one party to another party. Assignments can occur in contract or real estate contexts.  A contract assignment refers to a situation where one party to a contract transfers his/her rights or benefits under the contract to a third party. In a real estate assignment, an interest holder transfers his/her interest in a particular parcel to another party. less -
News & Analysis as of

Res Cogitans - A Class of Its Own

Bunker Supply Contracts, Retention of Title Clauses, The Sale Of Goods Act 1979 and One Highly Publicised Insolvency Combine to Give Vessel Owners a Global Headache - The Supreme Court’s ruling in this already...more

Real News - Spring 2016

Earlier this year, David Cameron fired the starting gun on whether Britain should continue its membership of the EU. As we all know, the potential effect of a Brexit is a topic which has divided the opinions not only of our...more

Florida Regulators Approve Policy Language Aimed at Limiting “Assignments of Benefits” Claim Practice

Insurance companies that write property risks in Florida are getting in line to request approval from the Office of Insurance Regulation (OIR) for two key policy revisions intended to control losses from a water damage...more

The flight of the operators: Resignation provisions under joint operating agreements

“The Devil is in the details, but so is salvation” - So said Admiral Hyman G Rickover, regarded as the father of the United States’ nuclear powered navy. It is with similar sentiments that both operators and non-operators in...more

Court of Appeal Rules on “Standing to Challenge Foreclosure” Issues Left Unaddressed by Yvanova

A recent post, California Supreme Court: Borrowers Have Standing to Allege Wrongful Foreclosure Based on Void Assignment of Note, summarized the February 2016 opinion in Yvanova v. New Century Mortgage Corporation. In...more

Sub-Participation Agreement: Recharacterisation Risk Before Spanish Court

Financial players in the distressed market in Spain are commonly using the LMA sub-participation agreement. However, “sub-participation” is not a concept that has been traditionally recognised under Spanish law. This has...more

Contract Assignment in M&A Transactions

Given the pace of M&A transactions and the abundance of issues to be negotiated, there is a danger that transferability of third-party contracts (i.e., the need for consent and obtaining the same) can be lost in the shuffle....more

Lease Assignments to Guarantors No Longer Valid

It is now clear that leases cannot be assigned to the tenant’s guarantor but serious issues arise out of the recent High Court case of EMI Group Limited v O&H Q1 Limited which specified that any lease assignment by a tenant...more

Eleventh Circuit Holds That TILA Does Not Create Claim Against an Assignee for Failure to Timely Provide Payoff Balance to...

The Eleventh Circuit recently reduced mortgage assignees’ potential exposure to liability for a servicer’s alleged violation of the Truth in Lending Act (“TILA”). ...more

What You Need to Know About Mergers and Acquisitions Involving Government Contractors and Their Suppliers

Volume 3—What Happens to Pending Proposals? Thus far in this ten-part series, we have discussed whether and how existing contracts with the Government can be transferred to the buyer or surviving entity when an...more

Doing Business with the Canadian Public Sector

Canada’s public sector entities include federal, provincial, municipal and territorial governments, Crown corporations, government agencies, boards and commissions, public utilities, and a wide variety of public institutions,...more

Insurance Insight - Broad duty to defend applied despite late notice

Even when an insurer receives very belated notice of a suit against its insured, it can face harsh consequences if it does not take action to provide a defense. ...more

California Supreme Court Opens Door For Wrongful Foreclosure Lawsuits and Challenges to Transfers of Mortgages: Practical...

In Yvanova v. New Century Mortgage Corporation et al, the Supreme Court of California reversed the Court of Appeal’s ruling, and held that a borrower plaintiff who has been subject to a nonjudicial foreclosure has standing to...more

West Coast Real Estate Update: March 2016 #1

Supreme Court of California Makes Mortgage Due Diligence More Difficult - The Supreme Court of California ruled that borrowers have standing to challenge a foreclosure on the grounds that an assignment of the mortgage...more

California Supreme Court Weighs in on Standing

The California Supreme Court recently held that borrowers may have standing to challenge an assignment of a deed of trust in a wrongful foreclosure action where they assert that the assignment is void. The decision likely...more

California Supreme Court: Borrowers Have Standing to Allege Wrongful Foreclosure Based on Void Assignment of Note

For the past few years, California appellate courts have been split on the question of whether a borrower has standing to challenge a foreclosure based on allegations that a purported assignment of the note and deed of trust...more

Borrower Has Standing To Challenge Foreclosure Sale Based on Late Assignment of Deed of Trust, Calif. Supreme Court Rules; Many...

The California Supreme Court has unanimously ruled in Yvanova v. New Century Mortgage Corp. that a homeowner has standing to bring a wrongful foreclosure action after a completed nonjudicial foreclosure sale on the grounds...more

Spotlight Article: California Supreme Court Holds that Borrowers Have Standing to Challenge an Allegedly Void Assignment of the...

Last week, the California Supreme Court held in Yvanova v. New Century Mortgage Corp, Case No. S218973 (Cal. Sup. Ct. February 18, 2016) that borrowers have standing to challenge an allegedly void assignment of a note and...more

California Supreme Court Rules in Yvanova That Borrowers May Have Standing To Allege Certain Defects In Assignments

Do borrowers have standing to challenge a non-judicial foreclosure on the ground of alleged defects in an assignment from the original lender to a successor? This is a question that has divided courts, both in California and...more

CA Supreme Court Unanimously Holds that a Mortgage Loan Borrower Has Standing to Sue for Wrongful Foreclosure due to Allegedly...

Action Item: In a ruling last week, the California Supreme Court supported Glaski and issued a narrow holding that, post-foreclosure, borrowers have standing to assert wrongful foreclosure based on allegations that an...more

California Supreme Court Finds Borrowers Have Standing To Challenge “Void” Assignment Of Loan After Foreclosure Sale

On February 18, 2016, the California Supreme Court issued its eagerly anticipated decision inYvanova v. New Century Mortgage Corporation, et al., Case No. S218973, finding that a borrower has standing to state a claim for...more

California Supreme Courts Holds that Borrowers Can State a Claim for Wrongful Foreclosure Based on a Void Assignment of the Loan;...

In recent years, the plaintiffs' bar for borrowers resisting foreclosures has pushed the theory that a claim can be stated for wrongful foreclosure where a loan was transferred into a securitized trust after the closing date...more

Yvanova v. New Century Mortgage Corp.: Perceived Victories And Defeats On All Sides

In the area of consumer lending litigation, plaintiffs’ and defense attorneys alike have waited with bated breath for the California Supreme Court to issue its decision in Yvanova v. New Century Mortgage Corp. The decision...more

Contractual Assignees Are Not Subject To Equitable Subrogation Rule Of Superior Equities

In AMCO Ins. Co. v. All Solutions Ins. Agency (No. F070038, filed 2/8/16), a California Court of Appeal held that claims against an insurance broker for failure to procure requested coverage are assignable, and that express...more

Court in BP Oil Spill Litigation Denies Standing for Special Purpose Entities Created Solely for Litigation

A January 4, 2016 opinion in the Southern District of Texas by Judge Keith Ellison (“Op.”) in the In re: BP p.l.c. Securities Litigation, MDL No. 4:10-md-2185, has taken up the issue of whether plaintiffs can properly assign...more

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