Buyback Programs

News & Analysis as of

Hushmail: Are Activist Hedge Funds Breaking Bad?

Increasingly, some activist hedge funds are looking to sell their stock positions back to target companies. How should the board respond to hushmail? The Rise and Fall of Greenmail - During the heyday of...more

Massachusetts Sues Fannie and Freddie for Blocking Home Buybacks

Earlier this month, Massachusetts Attorney General Martha Coakley initiated an action against Fannie Mae, Freddie Mac and the Federal Housing Finance Agency for allegedly illegally impeding non-profit foreclosure buyback...more

11th Circuit Affirms Disclaimer Under Pollution Buy-Back Endorsement

In its recent decision in Composite Structures, Inc. v. The Continental Ins. Co., 2014 U.S. App. LEXIS 5258 (11th Cir. Mar. 20, 2014), the United States Court of Appeals for the Eleventh Circuit, applying Florida law, had...more

Federal Court Follows Recent Statute of Limitations Decision for Mortgage Buyback Claims

We recently posted about a critical ruling out of New York’s intermediate state appellate court, the case of ACE Securities Corp. v. DB Structured Products, Inc., 977 N.Y.S.2d 229, 231 (N.Y.A.D. 1st Dept. Dec. 19, 2013). In...more

NY Appellate Court Reverses Decision on Statute of Limitations for Mortgage Buyback Claims

On December 19, 2013, correspondent lenders were the beneficiaries of a long-awaited common sense ruling on when the statute of limitations begins to run under New York law for purposes of a mortgage buyback claim. The...more

Oklahoma Court Enforces Terms of Pollution Buy-Back

In its recent decision in Star Ins. Co. v. Bear Prods., Inc., 2013 U.S. Dist. LEXIS 148559 (E.D. Okl. Oct. 16, 2013), the United States District Court for the Eastern District of Oklahoma had occasion to consider the...more

Wells Fargo Settles Mortgage Buyback Litigation with Freddie Mac for $869 Million

As of June 30 of this year, Wells Fargo & Co., this nation’s largest mortgage lender, had received demands to repurchase $1.4 Billion out of the $343 billion of residential-mortgage loans Wells Fargo sold to Freddie Mac and...more

Late notice by petroleum transporter results in insurance coverage denial

In the matter of Starr Indem. & Liab. Co. v. SGS Petroleum Serv. Corp., Case No. 12-20545 (5th Cir. June 18, 2013), the U.S. Court of Appeals for the Fifth Circuit recently upheld their prior decision in Matador Petroleum...more

Citigroup Resolves Mortgage Buyback Dispute with Fannie Mae

During the aftermath of the financial crisis, Fannie Mae and Freddie Mac have been aggressively demanding that Wall Street and big bank aggregators repurchase millions of defaulted and distressed loans for alleged breaches of...more

5th Circuit Holds Late Notice Bars Coverage Under Buy-Back Pollution Coverage

In its recent decision in Starr Indemnity & Liability Co. v. SGS Petroleum Service Corp., 2013 U.S. App. LEXIS 12425 (5th Cir. 2013), the United States Court of Appeals for the Fifth Circuit, applying Texas law, had occasion...more

Federal Judges Refuse to Permit “Shotgun” Style Mortgage-Buyback Lawsuits Filed by Lehman Brothers

Earlier this year, a United States District Court judge for the Southern District of Florida (Judge James Lawrence King) severed and dismissed 7 out of 8 mortgage repurchase claims filed by Lehman Brothers Holdings, Inc....more

Update: UK Government Publishes Changes to Law on Share Buy Backs

Changes aim to help companies make greater use of employee share schemes and equity arrangements. On 19 March, the revised draft of the UK Companies Act 2006 (Amendment of Part 18) Regulations 2013, including final...more

UK Government Publishes Proposals for Changes to Law on Share Buy Backs

Proposals aim to help companies make greater use of employee share schemes and equity arrangements. On 15 February, the UK Government published its response to its consultation on the share buy back recommendations made...more

UK Government Proposals to Change the Share Buyback Regime

On 15 February 2013, the government published a set of proposals relating to the implementation of the Nuttall Review’s recommendations on share buybacks. The changes are designed to reduce the barriers that disincentivise...more

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