News & Analysis as of

Damages Loans

A&O Shearman

Cryptocurrency, Specific Performance and Damages: Ether you get it or you don’t

A&O Shearman on

The High Court has upheld a decision to refuse to grant specific performance in respect of a non-payment default under an oral cryptocurrency loan agreement, but questioned whether damages should be calculated from the date...more

ArentFox Schiff

Avoiding Collateral Damage: Taking the (Re)Pledge [Part III]

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This constitutes the third in a four-part series that discusses the practice of repledging (sometimes referred to as “rehypothecation”), how standard agreements allow for repledging, the treatment of repledging under current...more

Jones Day

Getting Compensation After a Bank Bailout: Lessons From a Decade of SNS Litigation

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In Short: The Situation: After the nationalization of the Dutch SNS banking and insurance group, the Dutch Minister of Finance offered zero compensation to expropriated bondholders....more

Dechert LLP

Damage in economic loss claims: The English Court provides welcome clarification on accepting jurisdiction

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The English High Court has decided that, in determining whether it has jurisdiction to hear claims about economic loss, the focus must be on where the loss manifested itself (i.e. its crystallisation) rather than on the...more

McGlinchey Stafford

The Bullet Point: An Ohio Commercial Law Bulletin: Do I Have An Enforceable Contract?

McGlinchey Stafford on

Contract Interpretation McCruter v. Travelers Home & Marine Ins. Co., 11th Dist. Lake No. 2019-L-167, 2021-Ohio-472- In this appeal, the Eleventh Appellate District affirmed in part and reversed in part the lower court’s...more

BakerHostetler

Important Lessons from the DOJ's First Civil Action for CARES Act Loan Fraud

BakerHostetler on

On January 12, 2021, the Department of Justice (the “DOJ”) settled its first civil action for alleged fraud against the Paycheck Protection Program (the “PPP”) – the primary lending program under the Coronavirus Aid, Relief,...more

McDermott Will & Emery

Litigating Lending Agreements During and in the Aftermath of a Pandemic

As Coronavirus (COVID-19) continues to ravage the nation’s health and economy, in-progress deals are being reassessed by buyers, sellers and lenders. We review a number of issues that parties to financed transactions should...more

Carlton Fields

Real Property, Financial Services, & Title Insurance Update: Week Ending February 7, 2020

Carlton Fields on

Real Property Update - Fraudulent Transfer: Real property that was worth less than mortgage encumbering it was not an asset per the plain language of section 726.102(2) and, therefore, could not support fraudulent transfer...more

Orrick - Finance 20/20

S.D.N.Y. Denies Motion for Sampling in Trustee Action

Orrick - Finance 20/20 on

On May 17, 2018, Judge Jesse M. Furman of the United States District Court for the Southern District of New York denied the BlackRock Plaintiffs’ request to use sampling to prove their case against an RMBS trustee in...more

Snell & Wilmer

What Types of “Damages Claims” Survive a Trustee’s Sale?

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Arizona’s trustee’s sale statutory scheme provides for the waiver of all defenses and objections to a trustee’s sale that: (i) are not raised prior to the sale, and (ii) do not result in an injunction against the sale going...more

Pullman & Comley, LLC

Appellate Court Notes

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Appellate Court Advance Release Opinions - AC36506 - Sidorova v. East Lyme Board of Education - Due to budget cuts, the Board of Education laid off the plaintiff who was a tenured French teacher. She sued for...more

Dickinson Wright

Rules Against Title Insurer on Date of Loss Issue

Dickinson Wright on

In the recent decision in First American Title Insurance Co. v. Johnson Bank, 1 CA-CV 14-0190, 2015 WL 3965740 filed June 30, 2015, the Arizona Court of Appeals held that the date for calculating a loss under a lender’s title...more

Bilzin Sumberg

Judge Limits Damages Recoverable On Repurchase Claims

Bilzin Sumberg on

In an opinion refusing to dismiss a lawsuit by several RMBS mortgage trusts in connection with $1.6 billion of mortgage loans, Judge Harold Baer, Jr. of the U.S. District Court for the Southern District of New York, held that...more

Dechert LLP

U.S. Consumer Financial Protection Bureau Issues Rules on Qualified Mortgages and Ability to Repay

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Congress in the Dodd-Frank Act responded to concerns about the quality of mortgage loans by establishing incentives for lenders to seek to ensure that borrowers had the ability to repay mortgage loans made to them. In...more

Snell & Wilmer

The Consumer Financial Protection Bureau Finalizes the Ability-To-Repay and Qualified Mortgage Rule

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The Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank) amended the Truth in Lending Act (TILA) to provide for an expanded ability-to-repay requirement for the mortgage lending industry. The Consumer...more

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