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|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...
|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...
|Debt Ceiling 2015: When Hitting the Limit Isn't Really the Limit|
McDonald Hopkins LLC;
April 15, 2015, previously published on March 20, 2015The seemingly never ending fight over raising the debt limit should be in full swing - the U.S. legally hit the amount it is able to borrow on Monday of this week. Thanks to a series of steps the Treasury Department can take, however, Congress has until October or November of this year to act to...
Rosali Pretorius; Dentons Canada LLP;
April 15, 2015, previously published on February 13, 2015Post-financial crisis, many small businesses, unable to get bank financing in the wake of the tightening of bank capital rules, turned to crowdfunding. At that time, crowdfunding was largely unregulated. In the last three years or so, several regulators implemented rules to regulate the rapidly...
|Without Authority, Mortgagor Cannot Oppose Foreclosure Sale|
Edward J. Levin; Gordon Feinblatt LLC;
April 15, 2015, previously published on January 2015In Tower Oaks Blvd., LLC v. Procida, 219 Md. App. 376, 100 A.3d 1255 (2014), the Court of Special Appeals affirmed an order of the Circuit Court for Montgomery County denying a stay of a foreclosure sale because the people with authority to take action on behalf of the mortgagor had not acted to...
|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...
That Pass in the Night? Will the FCA's Recent Guidance on Retail Investment
Advice Have Any Impact on Mis-Selling Litigation?|
Richard Caird, Alexandra Doucas, Felicity Ewing; Dentons Canada LLP;
April 15, 2015, previously published on February 26, 2015The FCA has recently published Finalised Guidance 15/1 (the Guidance), which promises to consolidate existing sources of guidance on retail investment advice, and to clarify what does and does not amount to advice or a personal recommendation in that context. The significance of that question is,...