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|The Consumer Financial Protection Bureau's cases against Sprint and Verizon for Mobile Cramming|
Brooks F. Bossong; Nexsen Pruet, LLC;
July 3, 2015, previously published on June 23, 2015Today we’re taking a look at the Consumer Financial Protection Bureau’s cases against Sprint Corporation (“Sprint”) and Cellco Partnership d/b/a Verizon Wireless (“Verizon”) for mobile cramming. For starters, what does “cramming” mean in the context...
|New Jersey Bankruptcy Court Issues Ruling Regarding Condominium Association Liens in Chapter 13 Proceedings|
Robert J. Flanagan; Greenbaum, Rowe, Smith & Davis LLP;
June 23, 2015, previously published on June 2015On June 11, 2015, the United States Bankruptcy Court for the District of New Jersey recognized that a condominium association’s lien is entitled to a limited six-month priority over a first mortgage.
|Recent LMA LIBOR Related Changes - Their Possible Impact on Islamic Finance Documents|
Richard de Belder, Adam Pierce; Dentons Canada LLP;
May 19, 2015, previously published on March 31, 2015At the end of last year, the Loan Market Association (LMA) updated its facility agreements, including changes to the interest rate definitions and mechanics. Many Islamic finance transactions use a conventional interest rate benchmark, such as LIBOR, to calculate the profit or variable rental....
|Financing of North Sea oil and gas - a restructuring and insolvency perspective|
Humphrey Douglas, Byron Nurse; Dentons Canada LLP;
April 15, 2015, previously published on March 31, 2015Until recently, there was little call for restructuring and turnaround specialists in the UK to focus on the oil and gas industry. That has now undoubtedly changed. In the second half of 2014, Brent crude prices fell from over US$100 a barrel to around US$50, and although prices have since...
|Receivables Finance - Overriding Blocks to Assignment|
James Harvey, Alexander Hewitt; Dentons Canada LLP;
April 14, 2015, previously published on March 31, 2015The Small Business Enterprise and Employment Act received Royal Assent on 26 March and, when implemented, is expected to produce a huge boost in SME receivables finance.
|Bankruptcy Sales: The Stalking Horse|
Brad B. Erens; Jones Day;
March 30, 2015, previously published on March 2015Sales of assets pursuant to Section 363 of the Bankruptcy Code or pursuant to a plan of reorganization provide a number of benefits to a purchaser, but they also present a number of potential impediments, particularly to purchasers who are not familiar with the bankruptcy sale process. The benefits...
|As GM Attempts to Hide Behind Bankruptcy Shield, Bellwether Trials are Set for January 2016|
Jodi Westbrook Flowers; Motley Rice;
March 19, 2015, previously published on March 10, 2015Despite GM’s initial claim that only 13 deaths were related to its defective ignition switch, the company’s Ignition Switch Compensation Fund has now approved settlements for 64 deaths and 108 serious injury claims. For more than a decade, the automaker knew that this ignition switch...
|Second Circuit Denies Petition for En Banc Review of Fairfield Decision|
Ingrid Bagby, Daniel Gwen, David E. Kronenberg; Cadwalader, Wickersham & Taft LLP;
March 12, 2015, previously published on January 16, 2015On January 13, 2015, the U.S. Court of Appeals for the Second Circuit denied a petition for en banc review of the Second Circuit’s September 2014 panel decision holding that bankruptcy courts are required to review the propriety of a Chapter 15 debtor’s transfers of property interests...
|Loan Prepayment Penalties|
Robinson Brog Leinwand Greene Genovese Gluck P.C.;
March 5, 2015It is generally accepted practice for commercial lenders to incorporate prepayment premiums or penalties into loan documents in order to counter act any potential lost interest or other costs resulting from the early payoff of a loan. These prepayment premiums may also be referred to as "make...
|The Final Word on Mwangi—the Ninth Circuit Holds Debtor Cannot Recover Alleged Damages for a Stay Violation Arising From an Administrative Freeze on the Debtor’s Bank Account|
Mona Lyman Burton, Kirk Cheney, Clarissa M. Collier; Holland & Hart LLP;
February 27, 2015, previously published on December 22, 2014The Ninth Circuit Court of Appeals recently rendered its decision in the Mwangi case, dealing whether a debtor can assert a claim against his bank for placing an administrative freeze on his bank account pending a determination of the debtor’s exemption claim as to the funds in the account.