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New York Law Journal

An Emerging Financial Crisis In 2023? A Primer on Old Metrics

Potential weaknesses in the financial system are augmented by social media and the gamification of financial markets. This article explores risks that have surfaced in prior financial crisis cases and potential strategies for mitigating exposures.
8 minute read

Delaware Business Court Insider

Bankruptcy Judge Dismissed Fraudulent Transfer Claim in $7.2 Billion Purchase Led by Kohlberg Kravis Roberts

"It is black letter law in this Circuit that the gold standard for determining the value of an asset is to sell it in an open and fair market," stated U.S. Bankruptcy Judge Brendan Linehan Shannon. "A thing is worth what a willing buyer will pay to a willing seller following a proper marketing process.
4 minute read

Litigation Daily

Litigators of the Week: Boies Schiller Lands $290M Settlement From JPMorgan for Epstein Victims

The proposed settlement announced this week comes shortly after another $75 million deal with Deutsche Bank, another financial institution accused of turning a blind eye while providing financial services that enabled Jeffrey Epstein's sex-trafficking ring.
6 minute read

Law.com

State Appellate Court: Federal Law Permits States to Use Treasury Department 'Intercept Process' to Satisfy 'Covered Unemployment Compensation Debt'

"Because of the past mismanagement of Washington's Employment Security Department and the widespread confusion that was caused by new programs implemented in response to the COVID-19 financial crisis, this decision potentially effects tens of thousands of people in our state," said Weisman's attorney Timothy Ford. "It allows ESD to seize property without any kind of judicial process or court order whenever it decides that a person has been overpaid unemployment benefits—even if the overpayment was not their fault but ESD's. It does this by interpreting the words of a federal statute to mean something completely different from what the US Supreme Court has said they mean."
4 minute read

New York Law Journal

Todd Blanche, Cadwalader Sued for Alleged Legal Malpractice by Former Clients

Plaintiffs allege malpractice and breach of fiduciary duty in conjunction with an SEC investigation, which has since resulted in charges for twin brothers Adam and Daniel Kaplan.
4 minute read

New York Law Journal

When an Expense is Considered 'Paid': 'Gage v. Commissioner'

A discussion of the recent Tax Court case, Gage v. Commissioner, which addressed (1) the year in which a payment in settlement of claims made against the taxpayers by the federal government was considered to have been made for tax purposes, and (2) whether it was reasonable for the taxpayers to believe that the payment was not a "fine or similar penalty" nondeductible under IRC section 162(f).
8 minute read

Corporate Counsel

Coinbase CLO Paul Grewal 'Ultimately Optimistic' Despite 'Regulatory Backlash'

Grewal talked with Berkeley Law's Irene Liu on Tuesday, a week after the SEC sued the crypto exchange, alleging it was illegally operating as an unregistered broker.
5 minute read

Corporate Counsel

Lending Tree General Counsel Exits to Join Silicon Valley Stock-Exchange Startup

Lisa Young said she was drawn to the Long-Term Stock Exchange's focus on long-term business thinking, which helps companies "be better corporate citizens and further interests that benefit society."
2 minute read

New York Law Journal

Exonerated Ex-Deutsche Bank Trader Files $30 Million Suit Alleging Malicious Prosecution

Gavin Campbell Black is represented by Seth Levine, Scott Klugman and Chad Albert of Levine Lee.
3 minute read

New York Law Journal

JPMorgan Chase Reaches Settlement With Jeffrey Epstein Survivors in Sex Trafficking Class Action

The agreement, for a sum not immediately disclosed, comes three weeks after Deutsche Bank reached a $75 million settlement with Epstein victims in a separate proposed class action concerning that bank's work for the disgraced late financier.
3 minute read

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