Wells Fargo, Receivership

Ex Parte Appointment of a Receiver Confirmed

Cadwalader, Wickersham & Taft LLP on 4/3/2024

The New York County Supreme Court recently held that in the event of foreclosure, a receiver can be appointed, regardless of necessity, when the parties have contracted for such appointment. 24 West 57 APF LLC (“Defendant”)...more

Update: Judge Allows Most of Receiver’s Claims Against Wells Fargo for Involvement with Negative Option Marketers to Proceed

Venable LLP on 4/14/2022

A few weeks ago, we wrote an article discussing two enforcement actions by the Federal Trade Commission in the Central and Southern Districts of California that highlighted the risks to payment processors and financial...more

What Happens When a Secured Creditor Files a Late Claim in an Equity Receivership?

Snell & Wilmer on 9/25/2017

Pitting a receivership court’s inherent equitable powers against pre-existing property rights can lead to some pretty interesting questions. In SEC v. Wells Fargo Bank, N.A., 848 F.3d 1339, 1343-44 (11th Cir. 2017), the...more

What Happens to a Creditor’s Claim If It Received Notice and Fails to File by the Claim’s Bar Date?

Ervin Cohen & Jessup LLP on 8/9/2017

Question: I am a receiver in a fraud case where there are a lot of investors, trade creditors and secured creditors. Pursuant to my request, the court established a claims procedure and set a deadline for all creditors to...more

Recent Case Offers Insight Into the Protection of Security Interests

Bennett Jones LLP on 9/16/2015

The failure to perfect a security interest could result in losing property rights altogether despite being the unqualified owner of the property. A very recent example of this is the case of Wells Fargo Foothill Canada ULC v...more

Avoiding the Fire Sale: Protecting Your Security Interest Against Multiple Creditor Claims