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Lender Beware: Ignore Suspicious Activity at Your Own Peril
In Grede v. Bank of New York Mellon Corp. (In re Sentinel Management Group, Inc.), 809 F.3d 958 (7th Cir. Jan. 8, 2016), the U.S. Court of Appeals for the Seventh Circuit held that a lender who should have discovered that its borrower lacked authority to pledge assets is not protected by a good-faith defense to a fraudulent transfer action. Without this defense, the lender lost its security. Because the lender was left with an unsecured claim, the court also addressed the question of whether the priority of the lender's claim should be further reduced through equitable subordination.
Background
Sentinel was a cash-management firm, investing its customers' cash in liquid low-risk securities. Sentinel also traded on its own account, with money borrowed from Bank of New York Mellon Corp. and Bank of New York (affiliated entities referred to jointly as BNYM). BNYM required that its loans be secured by its borrower's assets. Lacking adequate assets to provide the bank with the required security, Sentinel improperly pledged securities that it had bought for its customers with their money to collateralize the BNYM loans.
Yachts, Jets, Horses & Hooch: Specialized Commercial Leasing Models
Defining commercial real estate asset class is essentially a property explaining how it identifies — not necessarily what its original intention was or what others think it ought to be. This article discusses, from a general issue-spot and contextual analysis perspective, how lawyers ought to think about specialized leasing formats and the regulatory backdrops that may inform what the documentation needs to contain for compliance purposes.
Hyperlinked Documents: The Latest e-Discovery Challenge
As courts and discovery experts debate whether hyperlinked content should be treated the same as traditional attachments, legal practitioners are grappling with the technical and legal complexities of collecting, analyzing and reviewing these documents in real-world cases.
Identifying Your Practice's Differentiator
How to Convey Your Merits In a Way That Earns Trust, Clients and Distinctions Just as no two individuals have the exact same face, no two lawyers practice in their respective fields or serve clients in the exact same way. Think of this as a "Unique Value Proposition." Internal consideration about what you uniquely bring to your clients, colleagues, firm and industry can provide untold benefits for your law practice.
Risks and Ad Fraud Protection In Digital Advertising
The ever-evolving digital marketing landscape, coupled with the industry-wide adoption of programmatic advertising, poses a significant threat to the effectiveness and integrity of digital advertising campaigns. This article explores various risks to digital advertising from pixel stuffing and ad stacking to domain spoofing and bots. It will also explore what should be done to ensure ad fraud protection and improve effectiveness.
Turning Business Development Plans Into Reality
This article offers practical insights and best practices to navigate the path from roadmap to rainmaking, ensuring your business development efforts are not just sporadic bursts of activity, but an integrated part of your daily success.