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Rule B: Good Riddance to Maritime Pre-judgment Attachments of EFTs
A cottage industry developed in the Southern District of New York after the Second Circuit's 2002 decision in Winter Storm Shipping, Ltd. v. TPI, 310 F. 3d 263 (“Winter Storm“) devoted to securing and maintaining pre-judgment attachments of funds-transfer payment orders (more commonly referred to as electronic funds transfers) (“EFTs”) passing through New York banks. The Second Circuit in Winter Storm held such payment orders to be “property” of the “originator” (the transferor of an EFT) notwithstanding that the originator had no account with the intermediary bank. Rule B attachments have also been routinely issued against beneficiaries (transferees) of an EFT, notwithstanding that the beneficiaries, likewise, have no account with the intermediary bank.
Rule B Attachments
New York's Latest Cybersecurity Commitment
On Aug. 9, 2023, Gov. Kathy Hochul introduced New York's inaugural comprehensive cybersecurity strategy. In sum, the plan aims to update government networks, bolster county-level digital defenses, and regulate critical infrastructure.
The DOJ's Corporate Enforcement Policy: One Year Later
The DOJ's Criminal Division issued three declinations since the issuance of the revised CEP a year ago. Review of these cases gives insight into DOJ's implementation of the new policy in practice.
How AI Has Affected PR
When we consider how the use of AI affects legal PR and communications, we have to look at it as an industrywide global phenomenon. A recent online conference provided an overview of the latest AI trends in public relations, and specifically, the impact of AI on communications. Here are some of the key points and takeaways from several of the speakers, who provided current best practices, tips, concerns and case studies.
CLE Shouldn't Be the Only Mandatory Training for Attorneys
Each stage of an attorney's career offers opportunities for a curriculum that addresses both the individual's and the firm's need to drive success.