New York Law Journal | Analysis
By Barbara M. Goodstein and John M. Conlon | December 6, 2023
Judgment creditors frequently encounter difficulties enforcing their judgments against debtors, particularly those in distressed circumstances. A recent decision by the Court of Appeals of Ohio in 'Wulco v. The O'Gara Group & Monroe Capital Partners Fund' involved a battle between a judgment creditor and a UCC secured creditor, each seeking to obtain funds in a debtor's bank account. The court examined not only the relative rights of the creditors as to those funds, but also whether a court clerk to whom the funds were transferred (as part of garnishment proceedings) could be a "transferee" under Section 9-332 of the Uniform Commercial Code, thereby stripping away any prior security interest.
New York Law Journal | Analysis
By John Coffee | November 15, 2023
On Sept. 29, 2023, the U.S. Supreme Court granted certiorari in 'Macquaire Infrastructure v. Moab Partners' to consider whether the failure to make disclosures required under Item 303 of the SEC's Regulation S-K can support an action for securities fraud under Rule 10b-5.
New York Law Journal | Analysis
By Philip M. Berkowitz | November 8, 2023
The SEC recently issued imposed significant and costly sanctions against companies that require employees to sign non-disclosure agreements containing certain language either limiting employees from disclosing company confidential information without company approval, or representing that they have not filed complaints with government entities.
New York Law Journal | Analysis
By William F. Johnson | November 1, 2023
The CFTC recently added a few new tools to its enforcement toolkit, most notably a new policy to seek admissions as a condition of resolving an enforcement action in certain cases.
New York Law Journal | Analysis
By Corinne Ball | October 25, 2023
Distress investors ought to take heed from the analysis set forth in 'In re Golden Seahorse.' The Bankruptcy Court for the United States Southern District of New York confronted a legacy of divergent cases, arguments among commentators and a somewhat ambiguous legislative history on the issue of cure requirements for reinstatement of a loan with favorable terms to its prepetition status
New York Law Journal | Analysis
By David E. Kahen and Elliot Pisem | October 18, 2023
'Hyatt Hotels v. Commissioner' underscores that even an approach to accounting for income and expenses that has been applied consistently by a taxpayer over many years is not necessarily a "method of accounting" subject to the government's broad power to impose adjustments under Section 481(a).
New York Law Journal | Analysis
By Lara Flath, Judy Flumenbaum and Jacob Fargo | October 11, 2023
A recent decision from the Commercial Division of the Supreme Court, New York County highlights the potential importance of—and protection offered by—the sometimes overlooked sibling of attorney-client privilege: the common interest doctrine.
New York Law Journal | Analysis
By Fizza Khan and Tyler Schoenberg | October 4, 2023
Regulation by enforcement continues, but SEC enforcement actions are now being brought against exchanges without evidence of fraud or wrongdoing. Is the SEC overstepping its regulatory oversight of digital assets?
New York Law Journal | Analysis
By Stephen Selbst, Steven Smith and Luc Pierre-Louis | September 27, 2023
This article provides an overview of reinstatement, explores the facts that led the 'Charter' court to allow reinstatement and the 'Young Broadcasting' court to reject it and explains how the rising interest rate environment may affect Chapter 11 plan confirmations.
New York Law Journal | Analysis
By John Coffee | September 20, 2023
In his Corporate Securities column, Professor John Coffee discusses how in two SDNY decisions, each decided in July 2023, two respected judges have disagreed as to whether certain cryptocurrency instruments amount to securities.
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