In a ruling handed down on May 15, the United States Supreme Court held that a debt collector’s filing of a proof of claim on time-barred debt in a consumer bankruptcy proceeding is not a “false, deceptive, misleading, unfair, or unconscionable” debt collection practice within the meaning of the Fair Debt Collection Practices Act (FDCPA).
On April 21, President Trump issued a Presidential Memorandum directing the Secretary of the Treasury to conduct a review of the Financial Stability Oversight Council (FSOC) processes for determining whether nonbank financial companies are financially distressed and designating nonbank financial companies as “systemically important.” The memorandum explains that a review of these processes is needed because the designations “have serious im
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Court holds that TIA § 316(b) prohibits only non‐consensual amendments to an indenture’s core payment terms.
A unanimous panel held that Asarco’s settlement in bankruptcy for its “share of response costs” did not preclude it from later bringing a CERCLA contribution claim.
Key developments in the Indian legal landscape in 2016
From the Startup India campaign launched in January 2016 to the coming into force of substantial provisions of the Insolvency and Bankruptcy Code in December 2016, the legal landscape in India has witnessed some crucial developments this past year. In this LawFlash, we describe briefly what we consider to be some of the key legal and regulatory developments in India in 2016.
Arbitration Act
Back in July, the United States bankruptcy court for the Eastern District of California held that under its local rules, an attorney submitting electronically signed documents for filing with the court must maintain an originally signed document in paper form bearing a “wet” signature.
India’s Ministry of Corporate Affairs (MCA) issued a notification on December 7 (Notification) announcing that certain provisions of the Companies Act, 2013 (Act), which are currently not in effect, will come into force on December 15, 2016.
The key provisions that will be brought into force include the following:
Compromise, Arrangements, and Amalgamation
Certain provisions contained in Chapter XV of the Act will be brought into effect that deal with
FINANCIAL SERVICES
New Regulations Facilitate Retail Investor Participation in Singapore Bond Market
On September 13, the OCC published a proposed rule under the authority of the National Bank Act, to provide a framework for receiverships for national banks that are not insured by the FDIC.