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Results: 1-10 of 443

Fondazione Enasarco v Lehman Brothers S.A.: English court rules on calculation of loss under the 1992 ISDA Master Agreement
  • Sidley Austin LLP
  • United Kingdom
  • May 12 2015

On May 12, 2015, the English High Court gave its judgment in Fondazione Enasarco v (1) Lehman Brothers Finance S.A. and (2) Anthracite Rated


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


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”


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


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


Anthracite vs Lehman Brothers finance s.a.
  • Sidley Austin LLP
  • United Kingdom
  • July 20 2011

An English court judgment in Anthracite Rated Investments (Jersey) Limited and Lehman Brothers Finance S.A. Fondazione Enasarco and (1) Lehman Brothers Finance S.A. (2) Anthracite Rated Investments (Cayman) Limited was handed down by Justice Briggs on 15 July 2011


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


District court enforces credit default swap
  • Fried Frank Harris Shriver & Jacobson LLP
  • USA
  • June 12 2008

On June 10, 2008, US District Judge Jed S. Rakoff of the US District Court for the Southern District of New York issued a notable ruling enforcing a credit default swap (“CDS”) that Merrill Lynch & Co. (“Merrill Lynch”) had purchased to hedge certain of its collateralized-debt obligations (“CDOs”


Banking litigation update
  • Herbert Smith Freehills LLP
  • United Kingdom
  • July 19 2012

In Lomas, the Court of Appeal heard four joined appeals concerning the interpretation of various provisions of the ISDA Master Agreement


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