 | Mayer Brown's Credit Market Distress Team to launch monthly teleconference series on key credit market issues
9 June 2008 - Mayer Brown LLP, a leading global law firm, announced today that it will host a monthly series of informational teleconferences focusing on the business impact and legal challenges arising from the credit market disruptions that continue to propagate throughout the financial systems and market. Read >>
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 | Client Alert: Tax Guidance Issued on Modifications of Securitized Mortgage Loans
2 June 2008 - On May 16 2008, the Internal Revenue Service (the "Service") issued Revenue Procedure 2008-28 (the "Revenue Procedure") describing the conditions under which certain securitized mortgage loans held by REMICs or fixed investment trust may be modified without adverse US tax consequences. Read >>
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| Disclosure Better than Limiting Credit
9 May 2008 - Last week Sen. Dodd offered a brief summary of his Credit Card Accountability Responsibility and Disclosure Act. Read >>
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| The Mortgage Loan Repo Survives It's First Big Test (With One Hitch)
17 April 2008 - Lenders who finance portfolios of residential mortgage loans through repurchase agreements scored an important victory in a recent decision arising out of the bankruptcy of American Home Mortgage, Inc. Read >>
Reproduced with permission from BNA's Bankruptcy Law Reporter, Vol. 20, No.16, 04/17/2008. Copyright 2008 by The Bureau of National Affairs, Inc. (800-372-1033) www.bna.com |
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| Client Alert: Stoneridge Investment Partners v. Scientific-Atlanta, Inc., No. 06-43
15 January 2008 - In a case argued by Mayer Brown partner Stephen Shapiro and previously described by the Wall Street Journal as "the biggest securities-litigation court clash in a generation," the Supreme Court today affirmed that third parties who do not themselves mislead investors cannot be held liable for damages under Section 10(b) of the Securities Exchange Act even if their conduct facilitates the fraud of another. Read >>
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| Client Alert: SEC Disclosures with Respect to Off-Balance Sheet Entities
4 January 2008 - In December 2007, the Division of Corporation Finance of the Securities and Exchange Commission sent a letter to certain public companies that had previously identified investments in structured investment vehicles ("SIVs"), conduits or collateralized debt obligations ("CDOs"). Read >>
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| Subprime Securities Litigation: Three Threshold Legal Issues
24 December 2007 - Subprime woes continue. Companies continue to announce losses or write-downs; lawsuits continue to follow. It is too early in these cases to predict winners and losers. It is not too soon, however, to analyze the complaints and describe some main litigation battlegrounds. These are initial fights that could do much to determine the size of the litigation wave. This article reviews three of those battlegrounds. Read >>
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| Client Alert: Modifications of Securitized Subprime Mortgage Loans
20 December 2007 - On December 6, 2007 the Internal Revenue Services (the "Services") issued Revenue Procedure 2007-72 (the "Revenue Procedure") which favorably addresses the tax effects of certain modifications, as described in more detail below, made to subprime mortgage loans held by securitization vehicles after December 6, 2007 and on or before July 31, 2010. Read >>
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| Mortgages Subprime Mortgage Court Cases Expanding; Public Firms, Banks, and Builders Targeted
20 November 2007 - Subprime mortgage lending practices and mortgage-backed securitizations are generating new types of litigation as company shareholders and others assert claims of reckless investment practices, material disclosure deficiencies, and fiduciary irresponsibility against corporations and their executives, practitioners told BNA in interviews. Read >>
Reproduced with permission from Daily Report for Executives, No. 223 (Nov. 20, 2007) pp.C-1 - C-4. Copyright 2007 by The Bureau of
National Affairs, Inc. (800-372-1033) |
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| The Latest Attempt To Regulate Subprime Mortgage Lending: The Federal Banking Agencies Issue The Subprime Mortgage Lending Guidance
October 2007 - A number of the articles here explore a variety of important issues relating to the subprime market meltdown, beginning with our lead piece, "Filling The Subprime Void--The FHA Revival," by Phillip L. Schulman and Emily J. Booth of the Washington, DC office of K&L Gates. Read >>
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| Client Alert - Supreme Court Hears Oral Argument in Stoneridge Case to Address "Scheme" Liability Under Section 10(b)
October 2007 - In one of the most highly anticipated business cases in years, the Supreme Court heard oral argument on October 9, 2007, in Stoneridge Investment Partners v. Scientific-Atlanta, Inc. Mayer Brown partner Stephen Shapiro argued the case for respondents Scientific-Atlanta, Inc. and Motorola, Inc. Read >>
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| Mayer Brown Launches Subprime Lending Response Team
5 October 2007 - Mayer Brown, a leading global law firm, announced today that it has formed a Subprime Lending Response Team to help clients address the issues resulting from the continuing distress in the subprime lending market. Read >>
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| Subprime Mortgage Lending: Possible Securities Litigation Exposure
24 September 2007 - Washington lawyers Stephen J. Crimmins, Andrew J.Morris, and Daniel T. Brown, Mayer Brown LLP, write about the risks of securities litigation faced by subprime mortgage lenders. Read >>
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| Securities Enforcement Update: FINRA enforcement chief comments on Issues Relating to Unification of NASD and NYSE Enforcement
24 September 2007 - On September 20, 2007, the DC Bar sponsored a luncheon program entitled "Learn What You Need To Know About FINRA From The New Enforcement Director Of This Combined NASD And NYSE Enforcement Entity." The featured speaker at the discussion was Susan L. Merrill, Executive Vice President, Chief of Enforcement, at the Financial Industry Regulatory Authority (FINRA), who previously served as Chief of Enforcement at the NYSE from 2004 to 2007. Read >>
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| Client Alert: Preparing Effective Responses to Investigations in the Subprime Arena
3 May 2007 - New York Attorney General Andrew Cuomo announced his intention to investigate the practices of subprime lenders at a news conference on March 15. Read >>
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