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Fraud and Fraudulent Conveyance Claims for $686 Million Allowed To Proceed Against Hedge Fund in Long-Running Dispute over Failed Securitization
  • Patterson Belknap Webb & Tyler LLP
  • USA
  • April 7 2017

On March 13, 2017, Justice Marcy Friedman of the New York Commercial Division denied a motion for summary judgment seeking to dismiss claims of fraud


First Department Confirms Hedge Funds Did Not Act in Bad Faith and Affirms Multi-Million Dollar Judgment Against CDS Counterpart
  • Patterson Belknap Webb & Tyler LLP
  • USA
  • January 27 2017

In Good Hill Master Fund L.P. V. Deutsche Bank AG, No. 60085810-2188B, 2017 BL 19363 (App. Div. 1st Dep’t Jan. 24, 2017), the First Department


Financial services update vol. 10, issue 29
  • Winston & Strawn LLP
  • European Union, USA
  • August 24 2015

The United States Treasury Department’s Financial Crimes Enforcement Network (FinCEN) is once again pushing for regulations that would require


Financial services update Vol. 10, Issue 9
  • Winston & Strawn LLP
  • European Union, USA
  • March 9 2015

I recently had the opportunity to invest in individual shortterm real estate loans. Having devoted my current liquidity to a real estate


A warning to sophisticated parties in fraud cases: do your homework
  • Kelley Drye & Warren LLP
  • USA
  • May 4 2012

On March 27, 2012, the Appellate Division, First Department issued its opinion in HSH Nordbank AG v. UBS AG, which reversed the lower court’s denial of a motion to dismiss the fraud claim


Dexia SA cites Deutsche Bank's internal MBS descriptions in suit over $1 billion in RMBS purchases
  • Orrick, Herrington & Sutcliffe LLP
  • USA
  • July 25 2011

On July 13, 2011, Dexia SA filed a lawsuit in New York State Supreme Court against Deutsche Bank AG and several of its affiliates in connection with its purchase of more than $1 billion in RMBS between 2005 and 2007 from the Deutsche Bank defendants


Talk tax quarterly news
  • Morrison & Foerster LLP
  • USA
  • July 22 2011

Just as we were going to press bemoaning the impending January 1, 2013 effective date of the Foreign Account Tax Compliance Act, the Internal Revenue Service and Treasury Department announced an extension of the new provisions’ withholding and reporting requirements


CDO fraud litigation and enforcement - 2011 survey
  • Lowenstein Sandler LLP
  • USA
  • June 23 2011

As of mid-2011, private plaintiffs and government regulators most prominently, the SEC continue to pursue fraud claims in connection with the marketing and sale of collateralized debt obligations (“CDOs”


Federal appellate court affirms dismissal of AIG derivative suit
  • Orrick, Herrington & Sutcliffe LLP
  • USA
  • March 28 2011

On March 17, 2011, the Second Circuit Court of Appeals affirmed a district court's dismissal of plaintiff Louisiana Municipal Police Employees Retirement System's derivative action on behalf of American International Group ("AIG") and certain of its current and former directors and officers for breaches of fiduciary duty, waste of corporate assets, unjust enrichment and contribution, as well as violations of the Securities and Exchange Act Sections 20(a) and 10(b


This week in securities litigation (October 15, 2010)
  • Porter Wright Morris & Arthur LLP
  • USA
  • October 15 2010

The focus was on Dodd-Frank this week as the Commission continued to implement the Act, issuing proposed rules regarding asset backed securities and derivatives