News Archive

Posted: February 26, 2016
M. Bruenger & Co.
Posted: February 26, 2016
ComputerShare Trust Company, N.A. and Computer Share Trust Company of Canada v. Energy Future Intermediate Holding Company LLC and EFIH Finance, Inc., No. 14-50405 (CSS) (Bankr. D. Del. Oct. 29, 2015); In re Energy Future Holdings Corp., et al., No. 14-10979 (CSS) (Bankr. D. Del. Oct. 30, 2015).
Posted: February 26, 2016
In re Petrobras Securities Litigation, No. 1:14-cv-09662 (JSR) (S.D.N.Y. Dec. 21, 2015)
Posted: February 26, 2016
Quadrant Structured Products Company, Ltd. v. Vertin, C.A. No. 6990-Vcl (Del. Ch. Ct. Oct. 20, 2015)
Posted: February 26, 2016
Yes, folks – it’s time once again for another episode of AMERICAN College of Investment Counsel BANDSTAND!  Whether you want the new and latest investment tunes or love your favorite golden oldies – please join us at the ACIC’s 2016 Spring Investment Forum on April 7 and 8 at the Four Seasons Hotel in Chicago, IL – and find out who is calling the investment tunes in 2016!
Posted: February 26, 2016
Clay Hufft is a Vice President and Associate General Counsel at AIG Investments.  Clay works in the Dallas, Texas office, where he advises internal business clients with respect to private placement transactions and general corporate matters.  Clay joined AIG Investments in January 2015.  Prior to joining AIG Investments, he was a Senior Associate at Vinson & Elkins LLP in Dallas, Texas, where his practice focused on general corporate finance, restructuring, and reorganization.  Clay received a B.A.
Posted: January 29, 2016
Greetings All!2016 is well underway and while I am not exactly sure where January has gone, I am sure that the College is off to a rockin’ start.   
Posted: January 7, 2016
The Board of Trustees is continuing to pursue opportunities to improve the ACIC.  Significant recent initiatives have included website renovations, increased membership communications and involvement, development of new membership criteria and a focus on recruitment efforts, and an upgrade to the location of the NY Annual Meeting.  Most recently the Board is increasing its focus on the purpose and functionality of the ACIC Committees.
Posted: January 7, 2016
On 1 November 2015, the revised version of the Statement of Insolvency Practice 16: Pre-packaged Sales in Administrations (“Revised SIP 16”) became effective, applying to appointments of insolvency practitioners starting on or after that date.  The Revised SIP 16 was the culmination of a process which began in 2013 with the commencement of the Graham Review, commissioned by the UK Government as a result of the widespread criticism of “pre-pack” administrations.
Posted: January 7, 2016
1. Executive SummaryA scheme of arrangement is a statutory, court-supervised procedure under Part 26 of the UK Companies Act 2006 (the "CA 2006") which allows a company to make a compromise or arrangement with its members or creditors (or a class of them). Schemes of arrangement are not an insolvency procedure although they can be used, amongst other things, to obtain approvals from creditor classes for debt restructurings of insolvent companies where unanimous class approvals would otherwise be required.
Posted: January 7, 2016
The recent Supreme Court of Nova Scotia decision in Business Development Bank of Canada v D’Eon Fisheries Limited [2015 NSSC 160] dealt with the issue of whether fishing quota entitlements are personal property subject to the Personal Property Security Act (Nova Scotia) (the “PPSA”).
Posted: January 4, 2016
Many thanks to all of the ACIC Fellows that completed and returned the CLE topic cards at the Annual Meeting in October.  We appreciate your ideas and feedback!  Congrats to Jenna Jenson, Ed Hammond and Bill Bulmer as the lucky winners, by random drawing, of the special prize—an ACIC travel mug!  We look forward to seeing you all at the Spring Forum!
Posted: October 28, 2015
Wells Fargo Bank, N.A. v. 804 Congress, LLC, 756 F. 368 (5th Cir. 2014).Although a deed of trust may set out a specific amount as payment for trustee fees and provision for counsel fees, a bankruptcy court, in assessing a claim for payment of trustee fees (and counsel fees) for a post-bankruptcy foreclosure  can determined whether the fees are reasonable (and therefore recoverable at a high level of priority in the bankruptcy scheme-- secured claims), with the rest of the claim being either allocated to general unsecured claims or disallowed. 
Posted: October 28, 2015
Williams v. Federal Deposit Insurance Company (In re Positive Health Management), 769 F. 3d 899 (2014).
Posted: October 21, 2015
In TMT Procurement Corp. v. Vantage Drilling Co. (In re TMT Procurement Corp.), 764 F.3d 512 (5th Cir.
Posted: October 21, 2015
California Bank & Trust v. DelPonti, 181 Cal. Rptr. 3d 216 (Cal. Ct. App. 2014).Five Corners Rialto, LLC (“Five Corners”) obtained a construction loan from Vineyard Bank (“Bank”) to develop a 70-unit townhome project, with guaranties from Thomas DelPonti and David Wood (“Guarantors”).  When the first phase of the project was nearly complete, the Bank stopped funding approved payment applications, preventing completion and sale of the first-phase units, which, in turn, caused Five Corners to default on the loan.
Posted: October 21, 2015
Riverisland Cold Storage, Inc. v. Fresno-Madera Production Credit Association, 2015 WL 2213195 (Cal. Ct. App. 2015).
Posted: October 21, 2015
Citizens Bank and Trust Co. v. Security First Insurance Holdings (In re Brooke Capital Corporation), 588 Fed. Appx. 834 (10th Cir. 2014).
Posted: October 20, 2015
Failure to read a contract did not necessarily preclude equitable relief from the contract terms based on misrepresentations, although such claims for equitable relief ultimately were found to be moot.  Riverisland Cold Storage, Inc. v. Fresno-Madera Production Credit Association, 2015 WL 2213195 (Cal. Ct. App. 2015).
Posted: September 24, 2015
Website and Social Media Committee:The Website and Social Media Committee is responsible for the oversight and promotion of the College’s website and LinkedIn account. In addition to the chairs, committee members are comprised of representatives from other committees, each of whom is the responsible person for such other committees to update relevant content on the site and LinkedIn to promote engagement by committees and users. The committee is presently working on creating a printable version of the online membership directory.
Posted: September 22, 2015
Where limitation of liability clause in loan participation agreement was sufficiently prominent to be enforceable, the lead lender could be liable only for breaches of contract resulting from gross negligence or willful misconduct; participant’s contract right to require lead lender to repurchase loan on default was not an unenforceable liquidated damages clause.  2010-1 SFG Venture LLC v. Lee Bank & Trust Co., No. A15A0271, 2015 WL 4114064 (Ga. Ct. App. July 9, 2015).

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