When a first mortgagee also extends a second mortgage loan, and consolidates the two mortgages, does the condominium's lien enjoy priority over the second mortgage? In a recent case, the Court of Appeals held that when both mortgages loans were extended before any default on common charges, both mortgages enjoy priority over the condominium's lien.
The FDA recently released a draft guidance for industry, "Data Integrity and Compliance with CGMP" (Current Good Manufacturing Practices). This article highlights some of the key points in the guidance and attempts to identify the agency's central concerns and recommendations.
In June 2016, in VMG Salsoul v. Ciccone, the U.S. Court of Appeals for the Ninth Circuit held that a 0.23 second sample from a sound recording of three horns simultaneously playing the notes of a chord wasn't copyright infringement.
Attorney fee awards are a big issue in many of the copyright litigations that crop up in the entertainment industry. Now the U.S. Supreme Court has recalibrated the law of copyright fee shifting, telling the U.S. Court of Appeals for the Second Circuit that it was placing too much weight on the objective reasonableness of parties' litigation positions.
In an emerging trend, chief executive officers and chief financial officers of companies settling U.S. Securities and Exchange Commission (SEC) financial reporting cases are personally paying back bonuses and other incentive-based compensation, despite the absence of accusations of personal misconduct or formal SEC actions against them individually.
This edition of the Quarterly State Compliance Review looks at some legislation of interest to corporate lawyers that went into effect between May 1 and July 1, 2016, as well as some recent cases of interest.
In an environmental group's article 78 proceeding to review an extraordinary hardship waiver permitting expansion of a mining operation in the Long Island Pine Barrens, the environmental group appealed from Supreme Court's denial of the petition and dismissal of the proceeding. A look at the decision that followed.
The IRS released a Chief Counsel Advice holding that disgorgement, the remedy commonly used to generate large monetary settlements in white-collar enforcement actions with the Securities SEC, was not tax deductible.
As law firms look to protect themselves from cash walking out the door in a low-demand market, they are increasingly looking at methods to discourage lateral departures and, perhaps more importantly, are enforcing those methods more frequently.
