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The Bristol Myers Decision: One Court’s View of Registered Holder vs Beneficial Owner Actions The United States District Court for the Southern District of New York (the “District Court”) recently issued a decision that rejected a common industry practice for trustees to be removed, appointed or to take actions based upon the consent, direction or authorization of owners of beneficial interests in debt instruments held through the facilities of The Depository Trust Company (“DTC”).
It has been a tough couple of months for 911 call centers. In at least seven states, callers in need of help in March were placed on hold or simply couldn’t reach a dispatch center. More alarming was a denial of service attack, launched by a teenager that nearly took out 911 call centers in at least a dozen states. Regardless of the cause, the result was the same — those in an emergency were unable to reach first responders.
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