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• Third Party Payment Processing Services

  The FDIC issued FIL-3-2012 on January 31, 2012 (“FIL-Payment Processing”), which offered additional guidance to those financial institutions with payment processor relationships.  The payment processor is a deposit customer of the financial institution and uses its relationship to process payments … Continue reading →

• Purchase of Tenant-In-Common Interest

  Recently we have seen an increase of the purchase of a tenant-in-common interest in real estate in certain parts of the country.  These purchases are made by individuals who intend to live on the premises and appear like the purchase … Continue reading →

• Single Member Limited Liability Companies and Asset Protection

  In an important decision relating to asset protection for single-member limited liability companies, the Florida Supreme Court reviewed a statute that permitted debtors to use a wholly owned limited liability company (LLC) to put their assets beyond the reach of judgment creditors. Continue reading →

• Will the Securitization Indenture Documents be Upheld Post Default?

  In the case In re Zais Investment Grade Ltd., a senior noteholder of a collateralized debt obligation placed the CDO issuer in an involuntary chapter 11 bankruptcy in order to advance an asset management plan that would otherwise require supermajority approval of all noteholders under the related indenture. Continue reading →

• Intermediaries in Securities Transactions Changes Under the Dodd-Frank Wall Street Reform and Consumer Protection Act

  Dodd-Frank Wall Street Reform and Consumer Protection Act will change the liability exposure of intermediaries in the sale of securities. Continue reading →

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