In January, the Supreme Court of California affirmed the Court of Appeal’s application of Code of Civil Procedure section 580b and held that the statute’s antideficiency protection applies to short sales just as it does to foreclosure sales.
For months, I have been telling people that while we all love paying less at the pump for our gasoline, lower oil prices will have significant consequences in the broader economy.
2016 will mark the eighth anniversary of the collapse of Lehman Brothers and the raft of regulatory reforms introduced in the aftermath of that event and the wider financial crisis will continue to be implemented during the year and in the coming years.
In remarks delivered yesterday at a field hearing in Louisville, Kentucky, Consumer Financial Protection Bureau (CFPB) Director Richard Cordray announced three actions the CFPB is taking to encourage financial institutions to expand access to checking accounts to the 10 million households it claims lack access to basic checking or savings accounts.
Court in BP Oil Spill Litigation Denies Standing for Special Purpose Entities Created Solely for Litigation
A January 4, 2016 opinion in the Southern District of Texas by Judge Keith Ellison (“Op.”) in the In re: BP p.l.c. Securities Litigation, has taken up the issue of whether plaintiffs can properly assign their claims to entities created solely for the purpose of litigating those claims.
The Upper Tribunal determined that Mr Ashton, the former Global head of G10 Voice Spot FX at Barclays, was not identified in two Decision Notices issued to his employer Bank (Barclays) and another Bank (UBS) and therefore that the third party rights provisions in s393 FSMA 2000 did not apply to him.
The ebb and flow of shareholder activism and defensive measures will persist in 2016. Companies will continue to struggle with market uncertainty and activists will continue to take advantage of depressed stock prices and other opportunities to gain support for their agendas.
Last October, the Consumer Financial Protection Bureau’s (CFPB) new integrated mortgage disclosure rule under the Truth in Lending Act and the Real Estate Settlement Procedures Act (commonly known as the TILA-RESPA Integrated Disclosure rule or TRID) went into effect.
The law obliges medical schemes to pay the costs of treating prescribed minimum benefit conditions in full. The Supreme Court of Appeal in The Council for Medical Schemes v Genesis Medical Scheme provides a useful reminder of when a party may waive rights conferred by law for their benefit.