Articles that seemingly have nothing to do with asset protection might still provide valuable asset protection reminders. A recent article by Teresa Dixon Murray in the Cleveland Plain Dealer is a good example.
The recent decision of the federal Second Circuit Court of Appeals in U.S. v. Newman et al. (December 10, 2014) is noteworthy for a few reasons.
Municipal Bond Interest Paid by a Bond Insurer After an Issuer’s Bankruptcy Discharge Can Remain Tax-Exempt
In the aftermath of recent municipal bankruptcies in which issuers proposed and/or implemented bankruptcy plans involving partial discharges of the issuer’s payment obligation on insured bonds, there has been increased focus on whether municipal bond interest paid by a bond insurer after the bankruptcy plan’s effective date continues to be tax-exempt.
Professional Liability Insurers Must Pay $30 Million Settlement of Restitutionary Overdraft Fee Claims
On December 16, 2014, in an interesting ruling that undoubtedly will stir up a great deal of debate, District of Minnesota Judge Paul Magnuson, applying Delaware law, granted U.S. Bancorp’s motion for summary judgment, holding that the bank’s professional liability insurers must pay $30 million of the $55 million the bank agreed to pay in settlement of overdraft fee overcharge class action lawsuits, plus related defense fees.
Over the past several days there have been a number of items that will be of interest to readers of this blog, which I note briefly here.
The Department of Commerce’s Bureau of Economic Analysis (BEA) has reinstated the mandatory reporting requirements of the BE–13, Survey of New Foreign Direct Investment in the United States, which was discontinued in 2009 due to budget restrictions.
As we approach the end of a very active year in the emergence of virtual currency regulation, we developed a heat map of the regulatory climate faced by virtual currency wallet providers and exchanges – entities who maintain control over a consumer’s virtual currency assets as part of their services.
On December 18, 2014, the Federal Reserve Board issued an order allowing banking entities an additional year, from July 2015 to July 2016, to conform their relationships with certain covered funds and foreign funds subject to the Volcker Rule.
On December 17, the European Securities and Markets Authority (ESMA) published a report on high-frequency trading (HFT) in EU equity markets.