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Breach of Contract › Trustees › Fiduciary Duty

Walkers

Jurisdiction Shall we make this exclusive?

Walkers on

Jurisdiction clauses in trust deeds are critical in determining the forum for resolving disputes. These clauses can be either exclusive, conferring jurisdiction to a specific court, or non-exclusive, allowing for flexibility...more

Faegre Drinker Biddle & Reath LLP

When Are Default-Rate Duties Triggered? The Tenth Circuit Provides Insight

Faegre Drinker Biddle & Reath LLP on

The concept of default-rate interest — interest that accrues on a debt at a higher-than-normal rate if the debtor defaults on terms of the underlying financial instrument — is well known. Default-rate duties, however, may be...more

Cadwalader, Wickersham & Taft LLP

2019 Year in Review: Securitization Litigation and Regulation

Cadwalader, Wickersham & Taft LLP on

There were significant developments in 2019 as courts continued to issue important decisions in this space and significant legislation impacting the residential mortgage-backed securities (“RMBS”) market came into effect.  A...more

Patterson Belknap Webb & Tyler LLP

Another Ruling on Public Auctions Versus Private Sales Under Section 363

Patterson Belknap Webb & Tyler LLP on

Two weeks ago, we discussed asset sales under Bankruptcy Code section 363. As that post noted, section 363 requires court approval for asset sales outside the ordinary course of business, with courts ensuring that sales...more

Bass, Berry & Sims PLC

Chris Lazarini Discusses Financial Institution’s Fiduciary Duty to Beneficiary

Bass, Berry & Sims PLC on

Bass, Berry & Sims attorney Chris Lazarini discussed a case centered around three IRA accounts and the duty that UBS had to the beneficiary following the death of the client/IRA account holder. Prior to the client’s death,...more

Orrick - Finance 20/20

Monoline Insurer Sues Trustee Over Settlement Figure in RMBS Repurchase Action

Orrick - Finance 20/20 on

On June 8, 2018, monoline insurer Ambac Assurance Corporation (“Ambac“) filed a complaint in the United States District Court for the Southern District of New York against U.S. Bank National Association (“U.S. Bank“), trustee...more

Orrick - Finance 20/20

SDNY Grants Trustees’ Motion to Dismiss Triaxx CDOs’ RMBS Claims with Prejudice

Orrick - Finance 20/20 on

On March 8, 2018, Judge Naomi Reice Buchwald of the United States District Court for the Southern District of New York issued a Memorandum and Order granting Defendants’ motion to dismiss Plaintiffs’ Third Amended Complaint...more

Carlton Fields

South Carolina Federal Court Grants In Part, Denies In Part, Trustee’s Motion To Dismiss Claims Brought By Fronting Insurer In...

Carlton Fields on

Plaintiff Companion Property and Casualty Insurance Company (“Companion”) brought suit against U.S. Bank National Association (“US Bank”) arising from its role as trustee under various reinsurance collateral trusts that...more

K&L Gates LLP

Ninth Circuit Opinion May Open Litigation Doors Most Thought Closed

K&L Gates LLP on

A recent Ninth Circuit Court of Appeals opinion charts potential new pathways for claims for damages resulting from portfolio losses by mutual fund shareholders against both a fund’s trustees and its investment adviser....more

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