Trustees

New amendments keep BVI trusts at cutting edge

by Henry Mander | Harney Westwood & Riegels on 5/23/2013

The British Virgin Islands is a well respected and sophisticated jurisdiction for the establishment of trusts. The general principles of BVI trust law are derived from those of English law and they have been supplemented by...more

Trustee Empowered To Void Foreclosure Sale Where Error Discovered Before Delivery Of Trustee’s Deed

by Tara C. Narayanan | Miller Starr Regalia on 5/22/2013

California’s Supreme Court affirmed a trustee’s right to void a non-judicial foreclosure sale based on mistakes in the foreclosure process discovered before delivery of a trustee’s deed to the successful bidder. ...more

The Bankruptcy Trustee in Chapters 7 & 13

by Jeff Field | Jeff Field & Associates on 5/21/2013

Bankruptcy cases are administered by trustees appointed by the Office of the U.S. trustee, which is part of the U.S. Department of Justice (DOJ). Typically, the debtor never has to appear before a judge. So who is this...more

New York State Court Dismisses RMBS Putback Action Against Nomura As Time-Barred

by Orrick - Structured Finance Group on 5/20/2013

On May 10, Justice Sherwood of the Supreme Court of the State of New York dismissed on statute of limitations grounds an RMBS putback action brought against Nomura Credit & Capital, Inc. (Nomura)....more

New York State Court Allows Trustee Lawsuit Against DB Structured Products to Proceed

by Orrick - Structured Finance Group on 5/20/2013

On May 13, Justice Kornreich of the Supreme Court of the State of New York denied DB Structured Products, Inc.’s (DBSP) motion to dismiss an RMBS putback action brought against it by the trustee for the relevant RMBS trust. ...more

Changes to BVI Trust Legislation – Fine-tuning the Law to Promote Flexibility

by Margarita Hadjitofi, Henry Mander, Emily Yiolitis | Harney Westwood & Riegels on 5/20/2013

The British Virgin Islands is a well respected and sophisticated jurisdiction for the establishment of trusts. The general principles of BVI trust law are derived from those of English law and they have been supplemented by...more

If You Will®: Short Takes on Estates, Taxes and Trusts - May 2013

by Burns & Levinson LLP on 5/17/2013

"IF YOU WILL®: Short Takes on Estates, Taxes and Trusts” is a quarterly glance through an informal lens at selected news items, court decisions, legislative changes and/or important issues pertinent to estate planning. It is...more

Bill on Bankruptcy: Trustees Sleep Easy after High Court Ruling [Video]

by Bloomberg Law on 5/15/2013

May 15 (Bloomberg Law) -- Trustees of all types are sleeping easier, knowing that their liabilities for theft by a co-trustee is a debt that can be wiped out in bankruptcy as a result of a unanimous Supreme Court decision...more

Court Reverses The Appointment Of A Receiver Over Trust Property

by David Johnson | Winstead PC on 5/15/2013

Courts generally review receiverships very closely, and a party requesting one should follow all required procedures. In Elliott v. Weatherman, parents created an irrevocable living trust and designated their three adult...more

District Court Denies Banks’ Motions to Dismiss Litigation Concerning Role of MBS Trustees

by Orrick - Structured Finance Group on 5/14/2013

On May 6, Judge Katherine Forrest of the United States District Court for the Southern District of New York denied Bank of America and U.S. Bank’s motions to dismiss an action relating to their roles as trustees of Washington...more

Whose Standing Is It, Anyway?

by Andrea Smith | Carr, McClellan, Ingersoll, Thompson & Horn -... on 5/13/2013

Does the trustee of a revocable trust ever have a duty to account to the remainder beneficiaries of the trust? The Supreme Court of California says yes, but not until after the death of the settlor. In a recent decision, In...more

Not So Secret - When Under Seal Isn't Enough

by Shirley Dai, Sharon Levine, Michael Savetsky | Lowenstein Sandler LLP on 5/10/2013

In a recent decision, the United States Bankruptcy Court for the Southern District of New York found the standard for sealing under § 107 of the Bankruptcy Code was not met and declined to seal a settlement agreement, despite...more

Court Upholds Validity of ERISA Fiduciary Indemnification

by David Ackerman, John Kober | Morgan Lewis on 5/7/2013

Ruling rejects DOL challenge of an agreement by a 100% ESOP-owned company to advance defense costs and indemnify a trustee....more

SEC Settles with Service Providers and Trustees of two Mutual Fund Trusts for Inaccurate Disclosures Regarding Section 15(c)...

by Ropes & Gray LLP on 5/7/2013

On May 2, 2013, the SEC filed an order instituting settled administrative proceedings against the trustees (“Trustees”) and certain service providers of two “turnkey” open-end series investment companies, Northern Lights Fund...more

Rogers Towers: A Lesson from the Lumber Yard: Middle District of Florida Raises Particularity Requirement for Trustee Standing in...

by Scott St. Amand, J. Ellsworth Summers, Jr. | Rogers Towers on 5/7/2013

One of the primary roles of a Chapter 7 trustee is to ensure that the bankruptcy estate is preserved prior to liquidation. It is no wonder, then, that the Trustee’s avoidance powers are well defined by the Bankruptcy Code....more

District Court Clarifies Distinction Between Burdens of Proof on Stay Relief and Adequate Protection in American Airlines...

by Walter Greenhalgh | Duane Morris LLP on 5/3/2013

In AMR Corporation, et al., Debtors, Case No. 12-3967, 2013 WL 1339123 (S.D.N.Y. April 3, 2013), the United States District Court for the Southern District of New York acknowledged that to be granted relief from the automatic...more

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New amendments keep BVI trusts at cutting edge

Trustee Empowered To Void Foreclosure Sale Where Error Discovered Before Delivery Of Trustee’s Deed

The Bankruptcy Trustee in Chapters 7 & 13

New York State Court Dismisses RMBS Putback Action Against Nomura As Time-Barred

New York State Court Allows Trustee Lawsuit Against DB Structured Products to Proceed

Changes to BVI Trust Legislation – Fine-tuning the Law to Promote Flexibility

If You Will®: Short Takes on Estates, Taxes and Trusts - May 2013

Bill on Bankruptcy: Trustees Sleep Easy after High Court Ruling [Video]

Court Reverses The Appointment Of A Receiver Over Trust Property

District Court Denies Banks’ Motions to Dismiss Litigation Concerning Role of MBS Trustees

Whose Standing Is It, Anyway?

Not So Secret - When Under Seal Isn't Enough

Court Upholds Validity of ERISA Fiduciary Indemnification

SEC Settles with Service Providers and Trustees of two Mutual Fund Trusts for Inaccurate Disclosures Regarding Section 15(c)...

Rogers Towers: A Lesson from the Lumber Yard: Middle District of Florida Raises Particularity Requirement for Trustee Standing in...

District Court Clarifies Distinction Between Burdens of Proof on Stay Relief and Adequate Protection in American Airlines...

SEC Sanctions Fund Trustees for Inadequate Disclosures and Failure to Follow Compliance Policies

Wealth Management Update - May 2013

Credit Crunch Digest -- April 2013

The Trust Being a Multi-Party Relationship, Whom Legal Counsel Represents Can Get Complicated

Takeover Code Amendments Extend the Rights of Pension Scheme Trustees

Bad Planning In Foreign Asset Protection Trust Scenario

Superannuation Funds - Enhanced Investment Management Governance

The Estate Planner - May/June 2013

Managing Nonprofits in Troubled Times: New Tools in Trustees’ Toolbox

Bill on Bankruptcy: Trustees Sleep Easy after High Court Ruling [Video]

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