Good Faith

News & Analysis as of

Blog: The House Always Wins: Seventh Circuit Broadly Applies “Good Faith” Defense Under Section 550(b)(1) to Fraudulent Transfer...

The Court of Appeals for the Seventh Circuit recently issued a decision which may give a trump card to fraudulent transfer defendants seeking to use the “good faith” defense under the Bankruptcy Code’s recovery provision....more

Kansas: Safe harbor for insurer faced with settlement demand to only one insured

What should an insurance company do when liability of the insured is clear, the damages clearly exceed the limits, and the claimant sends a settlement demand that would exhaust policy limits while releasing only one out of...more

Superior Court Upholds Duty To Negotiate

This interesting decision upholds a claim based on the alleged duty to negotiate a contract in good faith. This confirms the need to be careful in wording letters of intent or you may be obligated for more than you were...more

GoDaddy victorious in dispute over OSCARS and ACADEMY AWARDS marks | World Trademark Review

In Academy of Motion Picture Arts and Sciences v, the US District Court for the Central District of California has entered judgment in defendant GoDaddy’s favour, holding that plaintiff Academy of Motion Picture...more

New whistleblower Legislation Now in Effect in Yukon

The Act protects whistleblowers from reprisal and establishes a system to deal with allegations of reprisal by the employer. Any employee who has been the subject of reprisal can report the matter to the Public Interest...more

TRID's Closing Disclosure

On October 3, 2015, the new TILA-RESPA Integrated Disclosures Rule (TRID) went into effect. The rule sought to streamline and clarify some of the overlapping and confusing language on the two different disclosure forms...more

Securities Class Action Defense Counsel Selection: An Interview Process is Essential

When a public company purchases a significant good or service, it typically seeks competitive proposals. From coffee machines to architects, companies invite multiple vendors to bid, evaluate their proposals, and choose one...more

Transitional period and initial supervisory practice over TRID

The CFPB sent industry trade groups a letter on October 1, 2015 to address the approach of the Federal Financial Institutions Examination Council (FFIEC) member agencies during the initial months following the implementation...more

Entertainment and Media Litigation Update - October 2015

The "Dancing Baby" Case—Ninth Circuit Rules That "Fair Use" Must First Be Considered Before Sending Takedown Notices Under the DMCA - Why it matters: On September 14, 2015, the Ninth Circuit ruled in Lenz v. Universal...more

Ninth Circuit Holds Fair Use Must Be Considered Prior to Issuing Takedown

In the so-called “dancing baby” case, the Ninth Circuit ruled recently that copyright owners must consider the fair use doctrine before sending Digital Millennium Copyright Act (“DMCA”) takedown notifications to online...more

Bhasin Anniversary: You Gotta Have Faith?

It has been almost a year since the Supreme Court of Canada’s unanimous decision in Bhasin v. Hrynew, which was the subject of great attention and some alarm when released. What did it mean to have “good faith as an...more

What's Market? Update: Litigation

In In re Appraisal of, Inc., C.A. No. 8173-VCG (Del. Ch. 2015), the Delaware Court of Chancery held in connection with an appraisal proceeding brought by a dissenting shareholder that the best indication of the...more

Regulators Demand “Good Faith Efforts” for TRID Implementation

Why it matters - Federal regulators said they don’t expect perfection from banks trying to comply with the new mortgage disclosure requirements but will not turn a blind eye with regard to enforcement. In letters to...more

NLRB Regional Director Finds that Employer Failed to Substantially Comply with New Requirement to Provide “Available” Personal...

After the NLRB’s expedited election rules went into effect last April, the extent to which an employer faced with a union representation petition must search for and provide voters’ personal email addresses and cell phone...more

FINRA Releases Revised 4210 Margin Rule Proposal

The reproposed amendments to Rule 4210 attempt to address commenters’ concerns that the original proposed rule would impact business activity in the TBA market....more

California Enacts CalECPA, Requiring a Search Warrant to Obtain or Access Users’ Electronic Information

On Thursday, October 8, 2015, California Governor Jerry Brown signed into law the Electronic Communications Privacy Act (the “California ECPA”). This legislation, which takes effect on January 1, 2015, has been heralded by...more

U.S. House of Representatives Passes Several Financial Regulatory Relief Bills, Including TRID Safe Harbor

On October 7, the U.S. House of Representatives (U.S. House) passed several pieces of bipartisan legislation aimed at providing regulatory relief to lenders and strengthening consumer protection. This legislation included...more

First Round of ATR Cases Goes to Banks

The CFPB’s ability-to-repay (ATR) rule became effective in January 2014. It requires mortgage lenders to determine during underwriting that a borrower has a reasonable ability to repay a loan according to its terms. ...more

GSEs Provide Guidance Regarding TRID Compliance

On October 6, Fannie Mae and Freddie Mac issued guidance stating that both GSEs, under the direction of the FHFA, “will not conduct routine post-purchase loan file reviews for technical compliance with the TRID Rule,”...more

DMCA Take-Down Notice: Best Practices

Since 1998, when the Digital Millennium Copyright Act (the “DMCA”) was enacted, the DMCA take-down notice has achieved the status of a trusted weapon aimed by copyright owners directly at the unauthorized transmission of...more

House Passes Bill to Delay TRID

On October 7, 2015, the U.S. House of Representatives passed a bill that would provide a safe harbor from the new TILA/RESPA Integrated Disclosure (TRID) rule for a period of five months. By a vote of 303 to 121 the House...more

A WARNing to Directors and Officers — Failure to give proper WARN Act notice may breach your fiduciary duty

At first glance, Stanziale v. MILK072011, looks like someone suing over a bad expiration date and conjures up images of Ron Burgundy proclaiming “milk was a bad choice.” But in actuality Stanziale is much more interesting: it...more

District Court Dismisses TCPA Claims Based on Good Faith Defense

The U.S. District Court for the Eastern District of North Carolina recently adopted a magistrate judge’s recommendation that summary judgment be entered in favor of a defendant because it had a good faith belief that it had...more

Cordray Submits Letter to Trade Associations Regarding TRID Compliance

On October 1, CFPB Director Richard Cordray, on behalf of the FFIEC, responded to correspondence from the American Bankers Association and other trade associations seeking guidance as to their compliance with the Bureau’s...more

CFPB Sends Industry Letter on TRID

On October 1, regulators including the CFPB sent a letter to mortgage industry trade groups regarding TRID. The letter states that...more

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