Fairness & Solvency Opinions Shouldn't Be Overlooked Amid Restructuring Wave
Asset Protection 101: Are You and Your Family Protected from Litigation, Creditors, and Divorce?
Bill on Bankruptcy: Rakoff Reverses Himself in Madoff Case
On February 1, 2024, the U.S. Court of Appeals for the Sixth Circuit, in an unpublished opinion, held that a bank’s professional liability insurance includes coverage for a $32 million settlement payment the bank made to...more
In Tecnimont Arabia Limited v National Westminster Bank plc, the High Court considered the extent of a bank's liability to victims of fraud who were not direct customers. The High Court found that the bank had not been...more
According to the Bank Secrecy Act (BSA), the Financial Crimes Enforcement Network (FinCEN) states that the main focus for Financial Institution ought to be on the reporting of suspicious activities....more
When you read and learn about cryptocurrencies (e.g. Bitcoin, Ripple, Ethereum), there are some commentators, politicians and others who characterize cryptocurrencies as a “Ponzi” scheme....more
Real Property Update - Foreclosure/Standing/Lost Note: if plaintiff did not have right to enforce note when lost, plaintiff should present evidence of assignment from payee to plaintiff or affidavit of ownership - ...more
In an effort to combat an increasing number of fraudulent transfers carried out using its network, SWIFT, the international bank transfer network, announced this month that it is adding new tools and controls designed to...more
Banks beware: At the very least in Florida, you may be liable for negligence and “aiding and abetting fraud” to non-customers for trust funds deposited by a bank customer that were obtained by the customer through fraud,...more
With policyholders facing increased losses from hacking and business email compromise, insurers are fighting hard to escape their obligations under financial institution bonds, crime policies and cyber insurance policies. In...more
For most Americans, the term "money laundering" conjures an image of boxes of currency flown to the United States via seaplane—or former dictators paying cash for multimillion-dollar homes in swanky communities. Virtually no...more
For the second time this year, SWIFT is reporting another cyber-attack on a commercial bank. In a notice issued this morning, SWIFT said that attackers with a “deep and sophisticated knowledge of specific operational...more
The United States Court of Appeals for the Third Circuit reversed the denial of class certification in a case brought against a bank and its payment processors that allegedly engaged in a fraudulent scheme to cause...more