• Focus Fin. Partners, LLC v. Holsopple

    Publication Date: 2020-11-18
    Practice Area: Business Torts
    Industry: Financial Services and Banking
    Court: Court of Chancery
    Judge: Vice Chancellor Laster
    Attorneys: For plaintiff: Travis S. Hunter, Dorronda R. Bordley, Richards, Layton & Finger, P.A., Wilmington, DE; Michael V. Rella, Murphy & McGonigle, New York, NY for plaintiff.
    for defendant: Daniel M. Silver, Travis J. Ferguson, Alexandra M. Joyce, McCarter & English, LLP, Wilmington, DE for defendants.

    Case Number: D69190

    Tortious interference and misappropriation case against competitor who employed former worker dismissed on forum non conveniens grounds where the parties were already engaged in litigation in California, whose law was more likely to govern the issues in the matter.

  • In re Lehman Bros. Holdings Inc.

    Publication Date: 2020-08-18
    Practice Area: Bankruptcy
    Industry: Financial Services and Banking
    Court: U.S. Court of Appeals for the Second Circuit
    Judge: Per Curiam
    Attorneys: For plaintiff: For Plaintiff-Appellant Lehman Brothers Special Financing, Inc.: William F. Dahill, on the brief, Paul R. Defilippo, Wollmuth Maher & Deutsch LLP, New York, NY
    for defendant: For Defendant-Appellee First Northern Bank and Trust Company: William A. Slaughter, Ballard Spahr LLP, Philadelphia, PA; Leslie C. Heilman, Ballard Spahr LLP, Wilmington, DE. For Defendants-Appellees Garadex Inc., Gatex Properties Inc., and Morgan Stanley & Co., Incorporated: John H. Thompson, McGuire Woods LLP, Washington, DC. For Defendants-Appellees General Security National Insurance and SCOR Reinsurance Company: Scott Walter Reynolds, Chaffetz Lindsey LLP, New York, NY; Nicole E. Schiavo, Peter A. Ivanick, Hogan Lovells US LLP, New York, NY. For Defendants-Appellees Genworth Life and Annuity Insurance Co., Magnetar Constellation Fund II Ltd Magnetar Constellation Master Fund III Ltd, Magnetar Constellation Master Fund Ltd., and UniCredit Bank AG, London Branch: Nicholas P. Crowell, Alex R. Rovira, Andrew P. Propps, Sidley Austin LLP, New York, NY. For Defendant-Appellee LGT Bank in Liechtenstein Ltd: Gregory F. Hauser, Wuersch & Gering LLP, New York, NY. For Defendant-Appellee The Liverpool Limited Partnership: Matthew J. Gold, Kleinberg, Kaplan, Wolff & Cohen, P.C., New York, NY. For Defendants-Appellees Mariner LDC, Structured Credit Opportunities Fund II, L.P., and Tricadia Credit Strategies Master Fund, Ltd., f/k/a Mariner-Tricadia Credit Strategies Master Fund, Ltd: Thomas J. Fleming, Olshan Frome Wolosky LLP, New York, NY. For Defendant-Appellee MBIA, Inc: Kevin J. Biron, Morgan, Lewis & Bockius LLP, New York, NY. For Defendant-Appellee MoneyGram Securities, LLC and its Successors in Interest: Brian Dillon, Gray, Plant, Mooty, Mooty, & Bennett, P.A., Minneapolis, MN. For Defendant-Appellee Morgans Financial Limited: Lewis J. Liman, Cleary Gottlieb Steen & Hamilton, New York, NY. For Defendant-Appellee Mulberry Street CDO, Ltd: Jack Yoskowitz, Seward & Kissel LLP, New York, NY. For Defendant-Appellee Natixis Financial Products LLC: Scott W. Reynolds, Chaffetz Lindsey LLP, New York, NY. For Defendant-Appellee PCA Life Assurance Co. Ltd: Nicholas P. Crowell, Jon W. Muenz, Andrew P. Propps, Sidley Austin LLP, New York, NY. For Defendant-Appellee RGA Reinsurance Co.: Emilio B. Nicolas, Jackson Walker LLP, Austin, TX. For Defendant-Appellee Security Benefit Life Insurance Co.: David Adler, McCarter & English, LLP, New York, NY. For Defendant-Appellee Shenandoah Life Insurance Company: Joseph J. Saltarelli, Hunton Andrews Kurth LLP. For Amicus Curiae Structured Finance Industry Group: Madlyn Gleich Primoff, Timothy P. Harkness, David Y. Livshiz, Henry V. Hutten, Jill K. Serpa, on the brief, Freshfields Bruckhaus & Deringer US LLP, New York, NY.

    Case Number: 18-1079

    Certain Priority Provisions Are Enforceable Under the Bankruptcy Code's Safe Harbor

  • New Jersey Law Journal | Analysis

    Government Bond Market Proves 'Robust' in First Half of 2020, But COVID-19 Fallout Looms

    August 10, 2020

    New Jersey's government bond market has been steady so far this year even with COVID-19 uncertainties.

  • Leo v. Nationstar Mortgage LLC of Delaware

    Publication Date: 2020-07-20
    Practice Area: Insurance Law
    Industry: Financial Services and Banking
    Court: U.S. Court of Appeals for the Third Circuit
    Judge: Justice Smith
    Attorneys: For plaintiff: Lawrence E. Bathgate, II and Kyle R. Tognan (Bathgate Wegener & Wolf); Howard M. Bushman, Joseph M. Kaye, Adam M. Moskowitz, and Adam A. Schwartzbaum (Moskowitz Law Firm)
    for defendant: Jan T. Chilton and Erik W. Kemp (Severson & Werson); Kevin M. Haas (Clyde & Co US); Alexander E. Potente (Clyde & Co US); Edward J. Fanning, Jr., Gregory J. Hindy, Robert A. Mintz, and Scott M. Weingart (McCarter & English)

    Case Number: 19-3111

    Filed-Rate Doctrine Precluded Challenge to Insurance Rate Allegedly Inflated to Include Kickbacks

  • New Jersey Law Journal | News

    Reverse-Mortgage Borrowers Foreclosed From Class Suit on Insurance Fees, Circuit Says

    July 1, 2020

    The ruling effectively shuts down present and future court challenges to insurance rates if they were filed with the appropriate regulatory agency.

  • Consumer Fin. Prot. Bureau v. The Nat'l Collegiate Master Student Trust

    Publication Date: 2020-06-17
    Practice Area: Creditors' and Debtors' Rights
    Industry: Financial Services and Banking | Education
    Court: U.S. District Court of Delaware
    Judge: District Judge Noreika
    Attorneys: For plaintiff: Colin T. Reardon, Gabriel S.H. Hopkins, Jane M.E. Peterson, Stephen C. Jacques, Consumer Financial Protection Bureau, Washington, DC for plaintiff.
    for defendant: Jamie L. Brown, Kurt M. Heyman, Melissa N. Donimirski, Heyman Enerio Gattuso & Hirzel LLP, Wilmington, DE; Devon Hercher, Erik W. Haas, George A. LoBiondo, Jared Buszin, Joshua Kipnees, Peter Shakro, Peter W. Tomlinson, Patterson Belknap Webb & Tyler, New York, NY for defendant Ambac Assurance Corp.Daniel A. O’Brien, Venable LLP, Wilmington, DE; Allyson B. Baker, Meredith L. Boylan, Sameer P. Sheikh, Katherine M. Wright, Tiffany C. Williams, Venable LLP, Washington, DC for defendant Transworld Systems, Inc.Catherine A. Gaul, Ashby & Geddes, PA, Wilmington, DE; Michael Hanin, Henry B. Brownstein, Uri Itkin, Kasowitz Benson Torres LLP, New York, NY for defendant Objecting Noteholders.Rebecca L. Butcher, Landis Rath & Cobb LLP, Wilmington, DE; John P. Doherty, William Hao, Alston & Bird LLP, New York, NY for defendant GSS Data Services.Stacey A. Scrivani, Stevens & Lee, P.C., Wilmington, DE; Nicholas H. Pennington, Stevens & Lee, P.C., King of Prussia, PA for defendant The Pennsylvania Higher Education Assistance Agency. Stephen B. Brauerman, Elizabeth A. Powers, Jayson C. Jowers, Bayard, P.A., Wilmington, DE for defendant Wilmington Trust Company.John W. Shaw, Jeffrey T. Castellano, David M. Fry, Shaw Keller LLP, Wilmington, DE; Stephen H. Meyer, Sullivan & Cromwell, LLP, Washington, DC; Matthew A. Martel, Joseph B. Sconyers, Keith M. Kollmeyer, Jones Day, Boston, MA for defendant U.S. Bank National Association.

    Case Number: D69015

    Counsel for trusts lacked authority to sign proposed consent judgment where trust agreements expressly authorized owner trustee as the sole entity to bind the trusts.

  • Delaware Business Court Insider

    Federal Court Rules Counsel Can't Authorize Student Loan Trust Settlement

    June 8, 2020

    Seven intervening parties opposed the proposed consent judgment, which would, if approved, have required the trusts to pay a minimum of $19.1 million in penalties and refunds.

  • New York Law Journal | Analysis

    Mid-Sized Businesses May Be Eligible To Participate in the Main Street New Loan Facility and the Main Street Expanded Loan Facility

    April 23, 2020

    The Treasury Department and Federal Reserve Board of Governors are leveraging the existing powers of the Federal Reserve under §13(3) of the Federal Reserve Act to provide credit to private enterprises under the "exigent" circumstances created by the COVID-19 pandemic.

  • New York Law Journal | Commentary

    New York DFS Implementing Governor Cuomo's 90-Day Mortgage Relief in Response to COVID-19 Concerns

    March 20, 2020

    The guidance, issued by the DFS Executive Deputy Superintendent Shirin Emami, urged—but did not mandate—that servicers help to "alleviate the adverse impact caused by COVID-19" on New York mortgage borrowers who "demonstrate they are not able to make timely payments."

  • New Jersey Law Journal | News

    Justices Call Consumer Contract Unenforceable, but Sidestep Challenge to 'Atalese'

    January 11, 2019

    The justices said the mandatory arbitration clause was confusing because of the way it used the terms arbitration and mediation interchangeably.