Posts about "Publication (2)"

Perfecting Digital Assets: There’s No Control Without Power

In 2022, the Uniform Law Commission adopted new amendments to the model Uniform Commercial Code ("UCC") to address cryptocurrency transactions, including secured lending involving digital assets. These amendments have been enacted by at least five states (Washington, New Mexico, Colorado, Indiana and North Dakota) and introduced in another 21 states (including California and Texas, but not New...

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No Guarantee Systemic Risk Exception Will Save the Next Bank

As observed with the rescue of Silicon Valley Bank (SVB) and Signature Bank, the systemic risk exception allows the Federal Deposit Insurance Corporation (FDIC) to intervene in situations where the stability of the financial system is at risk. Although it was deployed in the 2008 financial crisis and more recently in the latest banking turmoil, there is no guarantee it will be applied again, if...

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Bankruptcy Relief for Cannabis-adjacent Debtors? It Gets Hazy

You may have heard this before: As cannabis remains a Schedule I drug under the federal Controlled Substances Act ("CSA"), cannabis companies cannot seek bankruptcy relief under federal law. Not so fast. Access to bankruptcy can be highly fact-dependent.

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Clawback to the Future: Avoidance Actions in Crypto Bankruptcies

When the history books are written, it may be said that the biggest event to shake the crypto world was not the crypto bankruptcies of 2022, but rather, the clawback of billions of dollars in crypto value in those bankruptcies. Since summer 2022, five major crypto companies have filed bankruptcy: a hedge fund (Three Arrows Capital), two lenders (Celsius and BlockFi), a broker (Voyager), and an...

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Understanding the Hunstein Decision’s Impact on Debt Collection

In a recent Reuters Legal News article, Joseph Cioffi and Nicole Serratore discuss the Eleventh Circuit Hunstein case and the series of appeals which call into question debt collectors' routine practice of sharing consumer information with third-party vendors as part of collection activities.

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Repurchase Agreement Redux: Mortgage Loan Originator Bankruptcies Are Back

Residential mortgage warehouse providers acting under repurchase or “repo” agreements as buyers should be assured that safe harbors under the Bankruptcy Code will permit them to enforce their rights under repurchase agreements when originators file for bankruptcy, but, in reality, third parties may interfere.

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How Companies Can Manage the Risks in Handling Alternative Credit Data

In a recent Reuters article, Joseph Cioffi and Nicole Serratore discuss the legal risks and share practical tips to safely get the most out of alternative data and AI when making credit assessments and collecting and using credit data. Read it here.

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