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Shearn Delamore & Co | Malaysia | 10 Aug 2022
High Court permits summary judgment in case concerning failure to pay for vessel
The High Court recently allowed a plaintiff's application for summary judgment. The plaintiff had entered into a memorandum of agreement whereby the plaintiff had sold a vessel to the first defendant. Five other defendants agreed to act as guarantors for the first defendant. The plaintiff's claim was based on the defendants' failure to pay the plaintiff for the vessel.
Lexology PRO | Australia, Canada, European Union, etc. | 14 Jun 2022
Buy now pay later: budgeting saviour or debt disguiser?
The embattled BNPL sector faces a complicated mix of surging demand from desperate shoppers, unstable share prices and expanding regulation. Will it survive the cost-of-living crisis?
Spaviatech Law | India | 18 May 2022
Analysis of Protection and Enforcement of Interests in Aircraft Objects Bill
The Ministry of Civil Aviation of India recently published a draft of the Protection and Enforcement of Interests in Aircraft Objects Bill, which aims to codify and prepare a comprehensive law for the repossession and transfer of aircraft objects and implement the provisions of the Convention on International Interests in Mobile Equipment and Protocol on Matters Specific to Aircraft......
Clasis Law | India | 26 Apr 2022
No writ petition maintainable in cases where remedy lies under SARFAESI Act
In a recent case, the Supreme Court of India clarified that borrowers aggrieved by proceedings initiated by banks or asset reconstruction companies under the Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest Act 2002 have to avail remedy under the same law and a writ petition will not be maintainable.
Davis Wright Tremaine LLP | USA | 27 Jun 2017
Supreme Court Narrows FDCPA’s Definition of Debt Collector
Debt buyers generally are considered “debt collectors” under the Fair Debt Collection Practices Act (“FDCPA”). However, on June 12, 2017, the Supreme…
Gorodissky & Partners | Russia | 23 Jun 2017
Federal Tax Service develops concept of unjustified tax benefit
The Federal Tax Service recently issued a notification entitled On Identifying the Circumstances of an Unjustified Tax Benefit, which summarises the law enforcement practice associated with assessing the validity of a tax benefit in disputes relating to bad-faith contracting parties. The notification will contribute to the reduction of companies' tax risks relating to an assessment of the......
Manatt Phelps & Phillips LLP | USA | 22 Jun 2017
Supreme Court: FDCPA Doesn’t Cover Owned Debt
A bank or other person may collect debts that it purchased for its own account without triggering the statutory requirements of the Fair Debt…
Schulte Roth & Zabel LLP | USA | 22 Jun 2017
LMA Updates Terms and Conditions for Par and Distressed Debt Trades
On 13 June 2017, the Loan Market Association (the ‘LMA’) released updated Standard Terms and Conditions for Par and Distressed Trade Transactions…
Greenberg Traurig LLP | USA | 20 Jun 2017
Resolving the FDCPA Circuit Split: Purchasers, Participles, and Policy
On June 12, 2017, the United States Supreme Court held that purchasers of debts originated by another are not “debt collectors” under the Fair Debt…
Riker Danzig LLP | USA | 20 Jun 2017
Supreme Court Holds That Purchaser of Defaulted Debt Is Not “Debt Collector” Under FDCPA
In a significant decision for banks and the lending industry as a whole, the United States Supreme Court recently clarified that purchasing and…
