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|Even Under a Contractual Right to Indemnification, Fees Must be Reasonable|
Brett Kenworthy, Daanish Samadmoten; Aird & Berlis LLP;
April 22, 2015, previously published on March 26, 2015On June 6, 2014, Justice Brown of the Ontario Superior Court of Justice (Commercial List) released additional reasons1 to his decision in Romspen Investment Corp. v. 6711162 Canada Inc., 2014 ONSC 2781, centred on the cost submissions made by counsel to Romspen Investment Corp....
|Themes for the New Year - the FCA's December 2014 Enforcement Conference|
Alexandra Doucas, Felicity Ewing, Katharine Harle; Dentons Canada LLP;
April 22, 2015, previously published on February 2, 2015The coming year sees a number of regulatory changes on the horizon, from the implementation of the new Senior Managers Regime to the FCA's review of its policy on penalties. In order to understand what will change from a regulatory perspective, it is perhaps necessary to understand why. One of the...
|Supreme Court Provides TILA Home Loan Rescission Guidance|
R. Scott Adams; Spilman Thomas & Battle, PLLC;
April 21, 2015, previously published on March 13, 2015In a recent unanimous decision, the United States Supreme Court held that a borrower exercising her right to rescind a mortgage loan under the Truth in Lending Act (“TILA”) merely had to provide written notice of rescission within three years after the loan was originated. The Supreme...
|Better late than never: late service of notice of amount payable under section 6(d) of the ISDA Master Agreement|
Richard Caird, Sam Coulthard, Alexandra Doucas; Dentons Canada LLP;
April 21, 2015, previously published on January 6, 2015Goldman Sachs International (GSI) has recently succeeded on an application for summary judgment against Videocon Global Ltd (Videocon) on somewhat unusual facts. The short judgment of Mr Justice Teare (the Judge) reflects the continuing ability of the 1992 ISDA Master Agreement to generate...
|Facing Merger Challenges. In 5, 4, 3, 2, 1......|
Hugh B. Wellons; Spilman Thomas & Battle, PLLC;
April 21, 2015, previously published on April 8, 2015A few weeks ago, a writer for a banking magazine asked my top five challenges to a successful bank merger. That is a loaded question! The challenges to complete a merger agreement, the challenges to close the merger, and the challenges to make the merger a long-term success are all different. What...
|Defeating Another Challenge to the Mortgage Electronic Registration System|
Angela L. Beblo; Spilman Thomas & Battle, PLLC;
April 21, 2015, previously published on March 13, 2015Since the mortgage crisis began several years ago, the Mortgage Electronic Registration System (“MERS”) has faced numerous legal attacks relating to foreclosures, assignments and what interest MERS holds in a deed of trust or mortgage. Among these cases are claims brought by government...
|Indiana Repossession Triggers Acceleration Clause, Statute of Limitations|
Nicholas Rohner; Weltman, Weinberg & Reis Co., L.P.A.;
April 17, 2015, previously published on April 3, 2015In 2004, Robert Imbody (“Imbody”) financed the purchase of a truck through Fifth Third Bank (“Bank”). Imbody made all scheduled payments until March of 2006. On May 31, 2006, the Bank repossessed the truck. The Bank sold the truck at auction and a deficiency balance of more...
Demand on Personal Loans in Turkey
Safak Herdem; HERDEM Attorneys At Law;
April 16, 2015In recent years, Turkey has seen a boost in the use of loans both in individual and in corporate level. Apparently, Turkish households took out loans to afford their expenses like never before in the past couple of years. The rapid increase in loans is not the only problem. Apart from loans, there...
|Cuyahoga County's New Requirement Regarding Escrow Advances|
Larry R. Rothenberg; Weltman, Weinberg & Reis Co., L.P.A.;
April 15, 2015, previously published on April 15, 2015The Cuyahoga County, Ohio, Court of Common Pleas has announced a change in the court's foreclosure procedures pertaining to a mortgage holder's unreimbursed escrow advances.
|New Decision Relating to the Purchase of Goods|
Abdelrahman Elnafie; Dentons Canada LLP;
April 15, 2015, previously published on February 16, 2015A key remit of the Public Authority for Consumer Protection (PACP) is to protect consumers against unreasonable price fluctuation, improper goods and services, and to secure fair treatment and transparency for consumers in their dealings with suppliers and retailers. PACP monitors and inspects...