By Charles Toutant | June 23, 2021
"Banks such as defendant Citibank are required by federal law and applicable regulations to know their customers and understand their banking activities and conduct. Such duties are heightened as to customers that are deemed higher-risk, including customers like defendant Access Bank, that are located overseas," the suit claims.
By Charles Toutant | June 22, 2021
The statute's focus on the banking industry is constitutional, and "no smoking gun is needed" to show the danger of corruption, U.S. District Judge Brian Martinotti found.
By Charles Toutant | June 21, 2021
"Our rule strikes the balance that was needed between those who were concerned that it would open up the floodgates of disclosure, and those who felt we needed to provide certain basic information," said Steven Richman, who helped formulate the new rule.
By Charles Toutant | June 16, 2021
"They're not at the top of the chain of alleged bad guys. They should have something to trade in exchange for leniency," Nicholas Duston, an attorney who represents clients in securities investigations, said of the three defendants.
By Charles Toutant | April 23, 2021
"The proposed rule is an overbroad answer to a problem that simply doesn't exist," said a trade association for legal funders.
New Jersey Law Journal | Analysis
By Brian P. McCann and Kristen E. Marinaccio | March 18, 2021
Parties and practitioners alike should be mindful that a parent's or former spouse's financial relationship to their children and former spouse can continue past death and should adequately plan for this continuing relationship.
By Charles Toutant | March 16, 2021
The Equal Credit Opportunity Act afforded no protection to the plaintiff because it does not apply to a medical bill, the appeals court ruled.
New Jersey Law Journal | Analysis
By New Jersey Law Journal | February 1, 2021
PPP Loan Liability and Bankruptcy -- Defending Lawsuits to Recover Preferential Transfers -- Foreign Investors: Understanding the Chapter 11 Sale Process -- Thanks to 3d Cir, Creditors May Have Clearer Path to Pursue Plunderers of Bankrupt Company -- Considerations That Loom Large Over the Small Business Debtor
New Jersey Law Journal | Analysis
By Eric H. Horn and Heike M. Vogel | January 28, 2021
A look at the Chapter 11, section 363 sale process, and the less common plan process. Plus, certain US regulations may be applicable in Chapter 11 when assets are sold to foreign investors. These US regulations are also addressed in this article.
New Jersey Law Journal | Analysis
By John M. August | January 28, 2021
The Bankruptcy Code and state insolvency laws contain several defenses to the recovery of preferential transfers which often reduce or eliminate the preference exposure in many, if not most, cases. This article provides an overview of the defenses and suggestions to obtain the best settlement possible.
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