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Taking a security interest in a closely held business

  • Sherman & Howard LLC
  • -
  • USA
  • -
  • November 1 2012

If a loan or extension of credit requires collateral, banks prefer collateral that is readily marketable rather than taking a security interest in a closely-held business

Shareholder derivative action against Wells Fargo’s directors survives motion to dismiss

  • Chadbourne & Parke LLP
  • -
  • USA
  • -
  • June 5 2012

The United States District Court for the Northern District of California recently denied the motion of Wells Fargo & Company (“Wells Fargo”) to dismiss claims that its directors and officers breached their fiduciary duties to shareholders during the mortgage crisis

Federal district court holds that FCRA statutory damage provision is unconstitutionally vague and violates due process

  • Locke Lord LLP
  • -
  • USA
  • -
  • July 29 2008

Willful violations of the Fair Credit Reporting Act (FCRA) can be punished with statutory damages of between $100 and $1,000, and potentially punitive damages, even where no actual damages are shown

Dead hand provisions: a lesson for lenders from the Delaware Chancery Court

  • Reed Smith LLP
  • -
  • USA
  • -
  • February 11 2015

In Pontiac General Employees Retirement System v. Ballantine, et al., the Delaware Chancery Court refused to dismiss a claim against a lender for

Eleventh Circuit interprets "bona fide error" defense to the FDCPA

  • Foley & Lardner LLP
  • -
  • USA
  • -
  • January 13 2011

In deciding a case of first impression for the Court, the Eleventh Circuit recently joined other circuits, including the Eighth and Ninth Circuits, in finding that determining if a debt collector can benefit from the "bona fide error" defense to the Fair Debt Collection Practices Act ("FDCPA") is a fact-intensive inquiry that requires a case-by-case analysis

Mortgage investor's alleged failure to be licensed could subject company to claims under debt collection statutes

  • Ballard Spahr LLP
  • -
  • USA
  • -
  • March 21 2013

A federal court in Maryland recently declined to dismiss a borrower's claims that the owner of a mortgage loan operated as a debt collection agency

The state of corporate governance for 2015

  • Sidley Austin LLP
  • -
  • USA
  • -
  • January 12 2015

The balance of power between shareholders and boards of directors is central to the U.S. public corporation's success as an engine of economic growth

Retailer fights back against $13.3 million in PCI data breach fines

  • Governo Law Firm LLC
  • -
  • USA
  • -
  • June 4 2013

A global retailer's recent lawsuit is the first to challenge fines assessed by credit card companies under the Payment Card Industry Data Security

Personal liability for corporate wrongdoing is expanded in Ohio

  • Frost Brown Todd LLC
  • -
  • USA
  • -
  • October 19 2010

In Flagstar Bank, FSB v. Adrian Sellers, 2010-Ohio-3951, 2010 WL 3294683 (Ohio App. 12 Dist. Aug. 23, 2010) (Powell, J.), the Twelfth District Court of Appeals upheld the Butler County Common Pleas trial court’s Order holding that the owner of the borrower-corporation became personally liable for the corporation’s debt when the corporation transferred its assets to another entity controlled by the owner without adequate consideration

A word of caution to co-guarantors: do not assume you will be reimbursed for partial payments of a common liability

  • Barnes & Thornburg LLP
  • -
  • USA
  • -
  • January 24 2011

Suppose you are one of multiple individual owners of a company, and you all agreed to guarantee the company's loan from a bank