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Wells Fargo & Co. has reached a settlement with a former branch manager who claimed she was fired for blowing the whistle on employees who had been opening accounts without permission, the sales-pressure conduct at issue in a scandal that erupted in 2016.
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In the second half of 2017, case law served to clarify what does and does not constitute reasonable policies and procedures for preserving information subject to discovery — as well as the risks you run if you fail to follow through on those policies.
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<i><b>How Lenders to BREs Can Reduce the Risk of Debtor Bankruptcy Without Compromising Public Policies</b></i><p>Structured financing transactions, including those pertaining to commercial real estate, make extensive use of entities formed for the specific purpose of reducing the likelihood that assets will be involved in a potential bankruptcy proceeding. Known as “bankruptcy-remote entities,” or “BREs,” these entities are subject to structures and covenants in financing documents and their own formation documents, which are designed to reduce the likelihood that the BRE will file for bankruptcy protection.
Columns & Departments
“Dead Man Statute” No Bar to Testimony About Alleged Oral Contract for Share of Royalties from Ben E. King Songs<br>Eleventh Circuit Sees No Personal Jurisdiction in Malpractice Lawsuit Against Law Firm that Handled Concert Industry Litigation<br>Tax Court Finds No Profit Motive in Music Club Operation
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The details might not be quite as dramatic as they were in <i>Waymo v. Uber</i>, but lawyers expect trade secrets to continue to be a fertile source for litigation.
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In a recent decision, Bankruptcy Judge Christopher S. Sontchi addressed the question of whether a Chapter 11 debtor, the tenant under a commercial lease, could exercise an option to renew the lease during the bankruptcy proceedings, even though the debtor was in default under the lease and the lease specified that it could not be renewed if defaults existed at the time the option was exercised.
Columns & Departments
Section 8 Status Protects Tenant from Eviction<br>Questions of Fact About Acceptance of Surrender
Columns & Departments
Moratorium Invalidated Where Consideration of Zoning Changes Not Planned<br>In Texas, LLCs Cannot Be Made to Pay Attorney Fees<br>No Interaction, No Equitable Tolling
Features
On Jan 8, 2018, Senators John Cornyn (R-TX) and Elizabeth Warren (D-MA) introduced the Bankruptcy Venue Reform Act of 2018, which is designed to prevent forum shopping in Chapter 11 bankruptcy cases, a practice that has resulted in a concentration of bankruptcy cases in a few districts.