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Documents on Litigation, Banking & Financial Services
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|Massachusetts Treasurer Demands National Mutual Fund Records in Multistate Unclaimed Property Audit|
Sutherland Asbill Brennan LLP;
October 14, 2014, previously published on October 8, 2014Late this summer, the Massachusetts Treasurer demanded mutual fund records on a nationwide basis as part of a multistate unclaimed property audit. Thirty-five (35) states are involved in the audit, but the Treasurer has sought records pertaining to all fifty (50) states.
|Yet Again, the Supreme Court Narrows Patent Eligibility, This Time Targeting Computer-Related Inventions|
Bruce D. Sunstein; Sunstein Kann Murphy & Timbers LLP;
October 10, 2014, previously published on July 1, 2014In the wake of its decisions denying eligibility for patent protection to diagnostic procedures (Mayo Collaborative Services v. Prometheus Laboratories, 2012), and isolated genomic DNA (Association for Molecular Pathology v. Myriad Genetics, 2013), the Supreme Court has denied patent eligibility to...
|Supreme Court of Canada Rules that Provincial Consumer Protection Laws Apply to Bank-Issued Credit Cards|
Suhuyini Abudulai; Cassels Brock & Blackwell LLP;
October 9, 2014, previously published on October 1, 2014On September 19, 2014, the Supreme Court of Canada (the “SCC”) released its long-awaited decision in Bank of Montreal v. Marcotte and two companion cases (Amex Bank of Canada v. Adams and Marcotte v. Fédération des caisses Desjardins du Québec). Significantly, the...
|Debt Collectors Beware: Venue Provision of FDCPA Reinterpreted|
Brian C. Langs, Joseph R. Marconi; Johnson & Bell, Ltd.;
October 8, 2014, previously published on September 2014In Suesz v. Med-1 Solutions, LLC, 2014 U.S. App. LEXIS 12562 (7th Cir. 2014), the Seventh Circuit recently reinterpreted the venue provision of the federal Fair Debt Collection Practices Act (“FDCPA”). The issue for the court was whether township small claims courts in Marion County,...
|Edgeworth: Commercial Reasonableness in Receivership Proceedings|
Seema Aggarwal, Jane Dietrich, Shayne Kukulowicz; Cassels Brock & Blackwell LLP;
September 24, 2014, previously published on September 17, 2014Recently, the Ontario Superior Court of Justice released a decision regarding amending a receivership order and re-allocating the proceeds of sale in a receivership proceeding (Romspen v Edgeworth, 2014 ONSC 4340). The effect of the decision is to confirm that, notwithstanding any final orders made...
|North Carolina Supreme Court Upholds Enforceability of Waiver of ECOA Claim|
Jessica K. Burr; Spilman Thomas Battle PLLC;
September 23, 2014, previously published on September 18, 2014Last month, the North Carolina Supreme Court issued an important opinion for lenders in this state. The opinion reversed the North Carolina Court of Appeals’ decision in RL REGI N.C., LLC v. Lighthouse Cove, LLC, which found that a waiver of claims contained in a forbearance agreement could...
|The Marcotte Decision: The Supreme Court of Canada Rules Against Banks in Provincial Consumer Protection Class Action|
David T. Neave, Rebecca R. von Rüti; Davis LLP;
September 23, 2014, previously published on September 22, 2014On September 19, 2014, the Supreme Court of Canada (the “Court”) ruled in Bank of Montreal v. Marcotte (“Marcotte”) that Quebec’s consumer protection legislation is applicable to federally regulated banks such that it provides the basis for consumer class actions in...
|Another Court Rules That Availability of Make-Whole Premiums in Bankruptcy Depends on Governing Documents|
Eric R. Blythe, Kevin J. Walsh; Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C.;
September 23, 2014, previously published on September 15, 2014In a recent bench decision in In re MPM Silicones, LLC et al., Case No. 14-22503-RDD (Bankr. S.D.N.Y. August 26, 2014), the Bankruptcy Court considered bondholders’ right to recover make-whole premiums (premiums paid for early repayment of debt) upon the payment of accelerated debt following...
|Missouri Supreme Court Clarifies When Deceptive Practices Occuring After the Sale May Still be Within Coverage of the Merchandising Practices Act|
Michael James Smith; Baker Sterchi Cowden & Rice, L.L.C.;
September 18, 2014, previously published on September 4, 2014The Missouri Merchandising Practices Act (MMPA), enacted in 1967, was meant to expand the common law definition of fraud to protect consumers from unfair or deceptive practices done “in connection with the sale or advertisement of any merchandise.” 407.020.1 RSMo 2013. Two new decisions...
|Update on Recent Summary Judgment for Barclays in Interest Rate Swap Litigation|
Richard Caird, Sam Coulthard, Alexandra Doucas; Dentons Canada LLP;
September 17, 2014, previously published on Septemeber 9, 2014In a recent hearing in the Cardiff Mercantile Court, His Honour Judge Keyser QC (the Judge) considered various arguments advanced in relation to an interest rate swap.