News Archive

Posted: January 17, 2018
Happy New Year to all of our Fellows!  We just completed a great year for the American College of Investment Counsel and look forward to building on our momentum to enhance and grow our College.
Posted: December 7, 2017
Posted: November 28, 2017
UK Pensions Regulator's new tougher approach following BHSBackground
Posted: November 28, 2017
UK Court of Appeal judgment on Lehman Waterfall II Parts A and B - Statutory interestThe Court of Appeal has dismissed all appeals brought by creditors relating to the extent and calculation of creditors’ entitlements to statutory interest on their debts for periods after the commencement of the administration of Lehman Brothers International (Europe) (“LBIE”).Background
Posted: November 28, 2017
Recast European Insolvency Regulation (2015) came into effect on 26 June 2017Background
Posted: November 27, 2017
Redwater Decisions and Outcomes in Alberta, Canada
Posted: November 3, 2017
Posted: October 31, 2017
2017 ACIC Annual Meeting and Educational Conference · October 19-20Broadway Nights- Curtains Up with Life Performances & Market UpdatesBy Richard Rejino
Posted: October 25, 2017
Goldman Sachs imagines Libor substitute: itselfInternational Finance Review 2203 30 September to 6 October 2017By:  Shankar Ramakrishnan and Eleanor DuncanGoldman Sachs raised eyebrows last week with language in a bond deal that outlined how the debt would be valued after the discontinuation of Libor.But in a surprising twist, the bank said a “calculation agent” would decide what to use in Libor’s place - and named itself the agent.
Posted: October 23, 2017
The American College of Investment Counsel (ACIC), a national organization of lawyers focused on advising institutional investors, recently elected officers and selected a new class of trustees at the organization’s annual meeting on October 19 in New York City.
Posted: October 5, 2017
Posted: September 26, 2017
An Indemnity Agreement was not invalidated as to a limited liability company by either the lack of authority of the signing manager or the misstated capacity of the signing manager.  Western Surety Co. v. La Cumbre Offices Partners, LLC, 2017 WL 445408 (Cal. Ct. App. 2017). 
Posted: September 26, 2017
A predispute arbitration agreement that waived the statutory right to seek, in any forum, public injunctive relief under California’s consumer protection laws, was not preempted (and therefore saved) by the Federal Arbitration Act.  McGill v. Citibank, N.A., 2 Cal. 5th 945 (Cal. April 6, 2017).
Posted: September 26, 2017
In California litigation, parties to a loan agreement cannot use choice of law provisions to circumvent the right to a jury trial. Rincon EV Realty LLC v. CP III Rincon Towers, Inc., 2017 WL 429267 (Cal. Ct. App. 2017).
Posted: September 25, 2017
“Piercing the Corporate Veil” Supported Due to Fraudulent Activity
Posted: September 25, 2017
E-mail Acceptance Sufficient to Satisfy Statute of FraudsIn Khoury v. Tomlinson, 518 S.W. 3d 568 (Tex. App. -- Houston 1st Dist.), the court of appeals (the "court") held, among other things, that e-mail correspondence was sufficiently definite to give rise to an enforceable contract and that the entry of a party’s e-mail address in the “from” field of the e-mail was sufficient as a signature for purposes of satisfying the Statute of Frauds. 
Posted: September 15, 2017
Posted: August 31, 2017
Bankruptcy Court Holds That Chapter 13 Debtor’s Surrender of Collateral Property Does Not Impose On Secured Creditors A Requirement To Accept That Property In Satisfaction Of Its Claims.  In re Sagendorph, 562 B.R. 545 (D. Mass 2017).
Posted: August 31, 2017
A Third Party That Acquires An Unendorsed Note Has Standing To Enforce That Note Though Not Technically A Holder Of The Note.  Valley Nat'l Bank v. Marcano, 174 Conn. App. 206 (2017).
Posted: August 31, 2017
Bankruptcy Court Rules That Pre-Petition Guaranties of Post-Petition Extensions of Credit Are Not Subject to Bankruptcy Discharges.  In re Reardon, 2017 WL 1283449 (Bkrtcy. D. Mass., Judge Bailey).
Posted: August 30, 2017
Membership CommitteeThe Membership Committee is charged with administering the process of electing individuals for membership in the College, and does so by receiving nominations for fellowship from other Fellows of the College, and reviewing the applications of nominated individuals for compliance with the relevant membership criteria. The Committee makes recommendations to the Trustees with respect to each application, and the Trustees are then tasked with acting on applications for fellowship.
Posted: August 30, 2017
James Kelly is a Staff Attorney in the Investments and Business Transactions department of Allstate Insurance Company. He advises clients with respect to infrastructure investments, debt and equity transactions and general investment matters. Prior to joining Allstate in 2014, he was in-house counsel at Lario Oil & Gas Company in Wichita, KS where his practice focused on derivatives, M&A transactions, corporate litigation and energy law. Jim received a B.S. from the University of Kansas and a J.D. from Brooklyn Law School.
Posted: August 30, 2017
An originating bank’s failure to disclose a borrower’s post-default settlement offer or third-party purchase offers to a participating bank and the originating bank’s rejection of the participating bank’s demand to charge interest at a default rate did not breach the originating bank’s obligation under a loan participation agreement to consult with and obtain the written consent of the participating bank prior to any modification, amendment or termination of any material terms in the loan documents.  Sentinel Capital Orlando, LLC v. Centennial Bank, 676 Fed.
Posted: August 30, 2017
Lenders’ acquiescence to actions inconsistent with terms of Blocked Account Agreement resulted in abandonment and waiver of Lenders’ right to enforce the agreement. Edwards Family Partnership, LP v. Bancorpsouth Bank, ___F. Supp. 3d___, 2017 WL 1732709 (S.D. Miss. February 21, 2017).
Posted: August 30, 2017
Pre-petition waiver of automatic stay unenforceable and relief from automatic stay otherwise not warranted where grow contracts disguised financing arrangements. In re Jeff Benfield Nursery, Inc., 565 B.R. 603 (Bankr. W.D. N.C. 2017).

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