U.S. Sanctions Developments: New Opportunities and Risks in Cuba, Iran and Sudan

Insight Jill M. Williamson Jill M. Williamson · July 21, 2017
In the last few years, drastic liberalization has changed the comprehensive U.S. sanctions against Iran and Cuba that had been maintained for decades. Iran sanctions were first enacted in 1979 (with the broad secondary sanctions for foreign subsidiaries only in place since 2012). Cuba sanctions began in 1960. Garnering less fanfare, the U.S. also

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Insolvency of Alitalia Puts Creditors on Notice to Make Claims

Insight Douglas J. Schneller Douglas J. Schneller · Emma R. Larson Emma R. Larson · Stephen Díaz Gavin Stephen Díaz Gavin · Claudio Palmieri · July 20, 2017
The May 2, 2017 bankruptcy filing for Alitalia might be the end of the journey for the troubled Italian flag carrier, but creditors in the U.S., Italy and elsewhere might still have a ticket to recover some claims. Alitalia has now also filed for bankruptcy protection in the U.S. under Chapter 15 of the Bankruptcy Code. Chapter 15 was added

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Maintaining Your Legal Entity Identifier (LEI) Just Got More Invasive

Insight Robin Powers Robin Powers · James Ballard James Ballard · July 17, 2017
Global Market Entity Identifier Utility (GMEI), an LEI issuer, is now requesting information relating to the parents of its registered entities.  The past information collected on an LEI entity, which consisted of self-identifying information, is known as “Level 1 Data.”  The additional information now being requested is

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U.S. Supreme Court: Filing a Time-Barred Claim in a Chapter 13 Bankruptcy Case Does Not Violate the Fair Debt Collection Practices Act

Insight Douglas J. Schneller Douglas J. Schneller · July 11, 2017
The U.S. Supreme Court recently issued a 5-3 decision holding that a creditor filing a proof of claim in a Chapter 13 bankruptcy case for a time-barred debt was not false, deceptive, misleading, unconscionable or unfair conduct in violation of the Fair Debt Collection Practices Act (FDCPA). Learn more here. > You may also find

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U.S. Supreme Court: Purchaser of Defaulted Loans Not a Debt Collector Under the Fair Debt Collection Practices Act

Insight Douglas J. Schneller Douglas J. Schneller · July 11, 2017
The U.S. Supreme Court recently held that a purchaser for its own account of a defaulted loan is not a debt collector within the meaning of the Fair Debt Collection Practices Act (FDCPA). Learn more here. > You may also find this complementary article of interest: U.S. Supreme Court: Filing a Time-Barred Claim in a

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First Circuit: Bankruptcy Court “Retention of Jurisdiction” Provision Requires More Than Mere Words

Insight Douglas J. Schneller Douglas J. Schneller · July 11, 2017
The First Circuit recently ruled that the bankruptcy court lacked the authority to adjudicate disputes under a contract because there was no “arising under,” “arising in” or “related to” jurisdiction — in spite of the fact that the contract itself, previously approved by the bankruptcy court, included a

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Clarification Regarding the Interplay Between the DOL’s Plan Asset and Fiduciary Definition Regulations

Insight Thomas M. White Thomas M. White · June 21, 2017
If a plan investment in a vehicle is not covered by the plan asset regulation, is a person who recommends that investment a fiduciary to ERISA plans? Read more here > This clarification is a supplement of Mr. White's previous article: DOL’s New Fiduciary Definition and the Marketing of Hedge Funds The Department of

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What are the Potential Perils of Ex-Politicians in University Posts? - Times Higher Education

Insight Stephen Joel Trachtenberg Stephen Joel Trachtenberg · June 14, 2017
Rimon Partner and President Emeritus and University Professor of Public Service at The George Washington University, Stephen Trachtenberg, was quoted in Times Higher Education Magazine about the pros and cons of ex-MPs turning to academia for employment. Dr. Trachtenberg has supervised the transition of several former

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Client Alert: Only in New York? Assignee Permitted to Enforce Mortgage Without Being Holder of the Note

Insight Douglas J. Schneller Douglas J. Schneller · June 09, 2017
Can an assignee of an interest in a mortgage and mortgage note by way of a written assignment enforce the underlying obligations under New York law if the original note was not delivered and indorsed to it? On May 31, 2017, in an unsigned opinion that will interest sellers and buyers of loans and other loan market participants, the Court of Appeals

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Client Alert: 2nd Circuit Affirms Debtor’s Decision to Nix Sale After Market Price Increases

Insight Douglas J. Schneller Douglas J. Schneller · June 09, 2017
In a decision that will be of interest to distressed investors and sellers and buyers of bankruptcy claims, the United States Circuit Court of Appeals for the Second Circuit affirmed a lower court decision which permitted a claims seller – and debtor in bankruptcy – to disapprove a trade confirmation after the market price had

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