HUD Proposes Changes to Home Mortgage Process
On March 14, 2008, the U.S. Department of Housing and Urban Development (HUD) published its 'Proposed Rule to Simplify and Improve the Process of Obtaining Mortgages and Reduce Consumer Settlement Costs' (Docket No. FR-5180-P-01, 73 Fed. Reg. 14030). If this Rule takes effect, it would drastically change the way residential mortgage transactions are conducted.
The Case for Non-Discretionary Advancement Policies
Non-discretionary advancement policies provide officers and directors with the necessary resources to resist unjustified lawsuits. At the same time, they encourage highly qualified people to serve as officers and directors, 'secure in the knowledge that the corporation will absorb the costs of defending their honesty and integrity.'
Parallel Proceedings: The End of an Error?
Three years ago, two similarly minded district court decisions rocked federal regulatory agencies and the Department of Justice (DOJ) by rejecting longstanding assumptions about the proper conduct of simultaneous civil and criminal investigations, commonly known as 'parallel proceedings.' This article analyzes those decisions.
Features
The Precedential Effect of BAP Decisions
The bench and bar are well acquainted with the principles of <i>stare decisis</i> and controlling precedent, but after nearly 25 years, we have yet to definitely settle the question of the precise binding effect and precedential value of decisions issued by one of the most misunderstood tribunals within the federal court system, the bankruptcy appellate panels (BAPs). A recent bankruptcy court decision from Ohio reminds us that the controversy goes on unabated ...
Features
Enron and Anna Nicole Smith
This article explains, in the bankruptcy litigation context, the probate exception, an arcane and traditionally misunderstood common law exception to federal jurisdiction.
Courts Issue Bearish Chapter 15 Rulings in Bear Stearns Cases
The subprime mortgage crisis and the high-profile meltdown of two Bear Stearns investment funds have generated the highest profile Chapter 15 rulings since its enactment in 2005. Herein is an analysis of those rulings.
Retail Hours of Operation: A Tenant's Perspective
In a retail setting, especially in situations where the landlord is receiving a percentage of the gross sales earned by the tenant, landlords will attempt to establish minimum (and maximum) hours of operation for the tenant. Also, the landlords quite often reserve the right to modify these hours of operation upon providing notice to the tenant. This requirement that the tenant be obligated to be open for business for certain specified hours may have far-reaching effects on the net income of the tenant derived from its business operation.
GCs Bristle at Proposed Disclosure Rules
Accounting rule adjustments rarely elicit even a yawn from the legal community. But changes proposed by the Financial Accounting Standards Board that would force public companies to disclose more about the risks of litigation have caused a howl of protest among general counsel and corporate and defense lawyers.
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