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Appeals Interest Rates Loans

Orrick, Herrington & Sutcliffe LLP

Texas Supreme Court answers Fifth Circuit’s question on loans in ruling

On May 23, the Supreme Court of Texas ruled that the maximum permissible interest on a loan must be calculated using the declining principal balance rather than the initial total principal amount. This decision was in...more

Ballard Spahr LLP

Colorado appeals to Tenth Circuit from Federal District Court order granting plaintiffs’ motion for a preliminary injunction in...

Ballard Spahr LLP on

On the very last day for filing an appeal, the Colorado Attorney General and UCCC Administrator filed a Notice of Appeal to the Tenth Circuit Court of Appeals of the Colorado federal district court’s order in favor of the...more

Proskauer Rose LLP

UK Tax Round Up - June 2024

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Welcome to the June edition of the UK Tax Round Up. This month features the latest Court of Appeal decision in a trilogy of recent cases regarding the loan relationship “unallowable purpose” test, an Upper Tribunal decision...more

Moore & Van Allen PLLC

Preemption Update and Future Implications: Congress Repeals The OCC’s True Lender Rule

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Congress has voted to overturn the Office of the Comptroller of the Currency’s (“OCC’s”) “true lender” rule under the Congressional Review Act (“CRA”), and the President has signed the resolution. Repeal of the “true lender”...more

McGlinchey Stafford

Another “unfathomable” decision: Colorado loans not valid when made

McGlinchey Stafford on

On June 9, 2020, the Colorado District Court issued an order stating that federal interest rate exportation authority under Section 27 of the Federal Depository Insurance Act does not extend to non-bank entities that purchase...more

White & Case LLP

Interest related to leveraged capital reduction or dividend distribution not always tax deductible, according to the Supreme Court

White & Case LLP on

The Supreme Court has ruled that interest on a loan contracted in order to carry out a capital reduction or a dividend distribution when the company lacks the liquidity to do so is not always deductible. It is crucial that...more

Robins Kaplan LLP

Financial Daily Dose 11.19.2019 | Top Story: T-Mobile Chief John Legere to Leave Company in April

Robins Kaplan LLP on

T-Mobile chief and fan-of-magenta John Legere has announced that he’ll be stepping down in April at the end of his current contract. Legere will be succeeded by Mike Sievert, the carrier’s current president and COO....more

Allen Matkins

California Supreme Court Empowers The DBO And The Courts To Regulate Interest Rates

Allen Matkins on

Section 22303 of the California Financial Code establishes the maximum interest rates applicable to loans less than $2,500. The preceding section incorporates by reference the general Civil Code provision about contract...more

Butler Snow LLP

Curing Default in Chapter 11 Bankruptcy May Require Debtors to Pay Default Interest to Secured Creditors.

Butler Snow LLP on

The Ninth Circuit Court of Appeals recently took up the issue of a Chapter 11 Debtor’s requirements to cure a loan default through its Chapter 11 plan. The result was a ruling that overturned previous law that entitled...more

Orrick, Herrington & Sutcliffe LLP

Case Update: Madden v. Midland Funding

Despite the strong petition and amici briefs, the Second Circuit denied the request to rehear the Madden v. Midland Funding case. With the denial of the petition on August 12 (order attached), it is now clear that Madden is...more

Orrick - Finance 20/20

Madden v. Midland Funding, LLC

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On May 22, the Second Circuit Court of Appeals ruled that when a nonbank entity purchases loans from a national bank, the interest rate the nonbank entity may charge is limited to the rate of interest of the state of...more

Cadwalader, Wickersham & Taft LLP

Second Circuit Holds Application of State Usury Laws to Third-Party Debt Purchasers Not Preempted by National Bank Act

On May 22, 2015, in Madden v. Midland Funding, LLC (“Madden”), the United States Court of Appeals for the Second Circuit held that the application of state usury laws to third-party assignees is not preempted by the National...more

Adler Pollock & Sheehan P.C.

Fast Five: Rhode Island Appellate Practice - March 2014: Lenders Beware! Usury Savings Clause Does Not Validate Usurious...

In a case of first impression that has important implications for lenders in Rhode Island, the Rhode Island Supreme Court held this term that a usury savings clause in a commercial loan document does not validate an otherwise...more

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