• New York Law Journal

    Gas and Electric Power Lending, Swaps and Hedges: How To Handle the Force Majeure Fallout From the ERCOT Market Disaster

    April 2, 2021

    Every impacted market participant is examining its force majeure rights under a plethora of contractual arrangements to determine whether performance may be excused. Banks need to be ready to take advantage of or defend against the invocation of these provisions, depending on the circumstances.

  • National Law Journal | News

    'The Less We Write, the Better': Justices Signal Narrow Ruling on Goldman Sachs' Bid to Reverse Class Certification

    March 29, 2021

    The main debate Monday centered on what evidentiary weight those statements should have, with both sides trimming more sweeping declarations made earlier in the litigation.

  • New York Law Journal

    Should the United States Be the Global Financial Policeman? International Extradition of White-Collar Defendants

    March 26, 2021

    The United States needs to consider carefully whether its treaty advantages and broad jurisdictional statutes should be aggressively used to bring foreign defendants to the United States when the American interest is limited and when other countries may have a greater interest in applying their own statutes, and their own penalty structures.

  • New York Law Journal

    The CTA Paradigm Shift: Why Practitioners, Industry and Law Enforcement Should Care

    March 26, 2021

    The CTA constitutes the most significant change to the U.S. anti-money laundering regime since the USA PATRIOT Act of 2001, and legal practitioners, industry, and law enforcement should pay careful attention to its rollout, which will primarily be addressed in regulations to be promulgated by the U.S. Department of Treasury.

  • New York Law Journal

    Prosecutors' New Weapon in Cross-Border Investigations

    March 26, 2021

    The Anti-Money Laundering Act of 2020, which became law on Jan. 1, 2021, greatly expands the U.S. government's authority to subpoena records from foreign banks with no U.S. branches, and this expansion has the potential to dramatically impact future white-collar investigations. This article provides insight into how the recent legislation could affect cross-border, white-collar investigations, how foreign banks can (or should) respond if they receive these subpoenas, and what affirmative measures foreign banks can take to prevent coming under scrutiny themselves.

  • Pedersen v. MidFirst Bank

    Publication Date: 2021-03-26
    Practice Area: Banking and Finance Laws | White Collar Crime
    Industry: Financial Services and Banking
    Court: U.S. District Court for the Northern District of New York, U.S. - NDNY
    Judge: District Judge Gary Sharpe
    Attorneys: For plaintiff: For the Plaintiffs: Daniel R. LeCours, Esq., Elliot A. Hallak, Esq., of counsel, Harris, Beach Law Firm, Albany, NY.
    for defendant: For the Defendants: Kyle Medley, Esq., Michael A.S. Newman, Esq., of counsel, MidFirst Bank Hinshaw, Culbertson Law Firm, New York, NY. Marc W. Brown, Esq., of counsel, Property ID Title Company, Goldberg Segalla LLP, Buffalo, NY.

    Case Number: 3:20-CV-411

    Bank Receiving Transmitted Funds Lacked Duty to Reverse Payment Order, Freeze Account

  • Zachman v. Hudson Valley Fed. Credit Union

    Publication Date: 2021-03-26
    Practice Area: Dispute Resolution
    Industry: Financial Services and Banking
    Court: U.S. District Court for the Southern District of New York, U.S - SDNY
    Judge: District Judge Vincent Briccetti
    Attorneys: For plaintiff:
    for defendant:

    Case Number: 20 CV 1579

    Credit Union's Account Holder Not on Notice of Agreement's Arbitration, Waiver Clauses

  • New York Law Journal | News

    Goldman Takes Class Certification Argument to Supreme Court, in Closely Watched Securities Case

    March 25, 2021

    The high court is set to hear arguments March 29 in a securities class action appeal from Goldman Sachs that threatens to undo a key tool for plaintiffs in obtaining class certification.

  • Fund Liquidation Holdings LLC v. Bank of America Corp.

    Publication Date: 2021-03-25
    Practice Area: Civil Procedure | White Collar Crime
    Industry: Financial Services and Banking
    Court: U.S. Court of Appeals for the Second Circuit
    Judge: Circuit Judge Richard Sullivan
    Attorneys: For plaintiff: For Plaintiffs-Appellants Fund Liquidation Holdings LLC and Sonterra Capital Master Fund, Ltd.: Vincent Briganti, Margaret MacLean, Lowey Dannenberg, P.C., White Plains, NY, on the brief, Eric F. Citron, Goldstein & Russell, P.C., Bethesda, MD. For Defendants-Appellees Credit Suisse Group AG, Credit Suisse AG, and Credit Suisse International: Herbert S. Washer, Elai Katz, Jason M. Hall, Lauren Perlgut, Adam S. Mintz, on the brief, Joel Kurtzberg, Cahill Gordon & Reindel LLP, New York, NY. For Defendants-Appellees Bank of America Corporation and Bank of America, N.A.: Arthur J. Burke, Paul S. Mishkin, Adam G. Mehes, Davis Polk & Wardwell LLP, New York, NY. For Defendants-Appellees Australia and New Zealand Banking Group Limited and ANZ Securities, Inc.: Penny Shane, Corey Omer, Sullivan & Cromwell LLP, New York, NY. For Defendant-Appellee The Bank of Tokyo-Mitsubishi UFJ, Ltd., n/k/a MUFG Bank, Ltd.: Christopher M. Viapiano, Elizabeth A. Cassady, Sullivan & Cromwell LLP, Washington, DC. For Defendants-Appellees Barclays PLC, Barclays Bank PLC, and Barclays Capital Inc.: Jonathan D. Schiller, Christopher Emmanuel Duffy, Leigh M. Nathanson, Boies Schiller Flexner LLP, New York, NY.
    for defendant: For Defendants-Appellees BNP Paribas, S.A., BNP Paribas North America, Inc., BNP Paribas Securities Corp., and BNP Paribas Prime Brokerage, Inc.: Jayant W. Tambe, Stephen J. Obie, Kelly A. Carrero, Jones Day, New York, NY. For Defendant-Appellee Commerzbank AG: David R. Gelfand, Mark D. Villaverde, Milbank LLP, New York, NY. For Defendants-Appellees Crédit Agricole Corporate and Investment Bank and Crédit Agricole S.A.: Andrew Hammon, Kimberly Anne Havlin, White & Case LLP, New York, NY; Darryl S. Lew, White & Case LLP, Washington, DC. For Defendants-Appellees DBS Bank Ltd., DBS Group Holdings Ltd., and DBS Vickers Securities (USA) Inc.: Erica S. Weisgerber, Debevoise & Plimpton LLP, New York, NY. For Defendant-Appellee Deutsche Bank AG: Aidan Synnott, Hallie S. Goldblatt, Paul, Weiss, Rifkind, Wharton & Garrison LLP, New York, NY. For Defendants-Appellees Macquarie Bank Ltd. and Macquarie Group Ltd.: Christopher M. Paparella, Steptoe & Johnson LLP, New York, NY. For Defendant-Appellee Oversea-Chinese Banking Corporation Limited: C. Fairley Spillman, Pratik A. Shah, Akin Gump Strauss Hauer & Feld LLP, Washington, DC. For Defendants-Appellees The Royal Bank of Scotland plc, The Royal Bank of Scotland Group plc, and RBS Securities Japan Limited: David S. Lesser, Jamie S. Dycus, Wilmer Cutler Pickering Hale and Dorr LLP, New York, NY. For Defendants-Appellees Standard Chartered Bank and Standard Chartered plc: Marc J. Gottridge, Lisa J. Fried, Benjamin A. Fleming, Hogan Lovells US LLP, New York, NY. For Defendants-Appellees United Overseas Bank Limited and UOB Global Capital, LLC: Dale C. Christensen, Jr., Noah Czarny, Seward & Kissel LLP, New York, NY. For Defendants-Appellees The Hongkong and Shanghai Banking Corporation Limited, HSBC Bank USA, N.A., HSBC Holdings plc, HSBC North America Holdings Inc., and HSBC USA Inc.: Nowell D. Bamberger, Cleary Gottlieb Steen & Hamilton LLP, Washington, DC; Charity E. Lee, Cleary Gottlieb Steen & Hamilton LLP, New York, NY. For Defendants-Appellees UBS AG and UBS Securities Japan Co., Ltd.: Mark A. Kirsch, Eric J. Stock, Jefferson E. Bell, Gibson, Dunn & Crutcher LLP, New York, NY. For Defendants-Appellees ING Groep N.V., ING Bank N.V., and ING Capital Markets LLC.: Amanda F. Davidoff, Sullivan & Cromwell LLP, Washington, DC.

    Case Number: 19-2719-cv

    Real Party in Interest Had Article III Standing at All Times, Could Enter Entities' Shoes

  • Rajkumar v. FBCS Inc.

    Publication Date: 2021-03-24
    Practice Area: Creditors' and Debtors' Rights
    Industry: Financial Services and Banking
    Court: U.S. District Court for the Southern District of New York, U.S - SDNY
    Judge: District Judge Andrew Carter
    Attorneys: For plaintiff:
    for defendant:

    Case Number: 20-CV-00218

    Prior Ruling Leads to Finding Collection Letter Not Misleading, Does Not Violate FDCPA