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Articles by Stephen Ascher
Private Credit Valuations Under Pressure: Enforcement Trends, Litigation Risks and Mitigation Tactics
Pressure on the private credit industry is highlighting an emerging area of potential regulatory scrutiny and civil litigation – the valuation of illiquid, rarely traded credit assets that are particularly hard to value, and thus vulnerable to extensive second-guessing.
Recent Developments in New York’s One-Action Rule
Foreclosure A recent appellate case underscores the strategic opportunities for mortgage lenders under New York’s One-Action Rule (NY RPAPL §1301)—and attendant risks to borrowers and their guarantors. Typically, the One-Action Rule limits lenders to choosing a single remedy for a default on a mortgage—either a foreclosure action to recover the property (perhaps followed by claims for any deficiency), or a suit for money damages against the borrower and/or its guarantor—but not both at once.
Recent Developments in New York’s One-Action Rule
Law.com CompassLaw.com RadarVerdict SearchScholar .China Law & PracticeLegal Dictionary Click to enter your existing username and password or create a new account. Click to purchase an individual user subscription with your credit card. Related information Companies/Organizations Law Firms/Representation Topics Expert OpinionReal Estate Jenner & Block attorneys discuss the recent appellate case ‘U.S. Bank National Association v. Mave Hotel Investors LLC,’ and its impact on mortgage lenders.
Private Credit Valuations Under Pressure: Enforcement Trends, Litigation Risks and Mitigation Tactics
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Client Alert: Latest Supreme Court Term Presents New Challenges for SEC | JD Supra
I. Introduction The Supreme Court’s most recent term has forced the SEC to face new realities regarding its powers. As has been widely publicized, the Supreme Court’s overruling of Chevron in Loper Bright Enterprises v. Raimondo highlighted that the agency would no longer receive deference when interpreting statutes. And in SEC v. Jarkesy, the Supreme Court held that the SEC’s in-house adjudication process cannot be used to hear fraud cases brought by the agency.
Musk's Focus on X Has Come at Tesla's Expense, Shareholder Lawsuit Claims
A new Court of Chancery shareholder suit against Tesla claims Elon Musk has breached his duties to the company by diverting resources to personal interest projects like the microblogging app X and an artificial intelligence affiliate. The 250-page complaint was filed Monday in Delaware by a retirement fund for Rhode Island state employees, represented by Prickett, Jones & Elliott and Lieff Cabraser Heimann & Bernstein, brings six claims against Musk and Tesla’s board members.
Delaware Supreme Court Affirms AMC Shareholder Settlement Over Stock Split
The Delaware Supreme Court has upheld AMC’s settlement with shareholders, capping litigation over a reverse stock split with a resolution that retail shareholders said wasn’t made in their interest.
No-Shop Provisions: Drafting Guidance from the Litigator’s Perspective
Contractual counterparties often plant the seeds of litigation during negotiations over a preliminary framework for a complex corporate transaction—well before parties commit to the ultimate deal. Preliminary agreements, often styled as letters of intent (LOIs), can impose significant obligations on their signatories, even if a deal never ultimately closes.
Cannabis in Court: When Federal Courts Will Hear Commercial Disputes Related to the Cannabis Business
By Steven Ascher and Anna M.Windemuth The unique status of the cannabis business — legal in a majority of states, but still illegal under federal law — creates a thorny problem for litigants: Federal courts sometimes refuse to hear cannabis-related disputes on the ground that a court will not order a party to engage in illegal conduct. As a result, a federal court is unlikely to hear a claim seeking, for instance, delivery of a shipment of cannabis, or payment for a shipment of cannabis.
Lordstown Shows How Projections Can Invite SPAC Litigation
Law360 (June 23, 2021, 11:33 AM EDT) -- The recent turmoil at Lordstown Motors Corp., a manufacturer of electric pickup trucks that went public via a special purpose acquisition company, or SPAC, transaction in October 2020, signals a potential turning point in the materialization of SPAC litigation.
Real Estate Litigation And Counseling Newsletter
United States: Real Estate Litigation And Counseling Newsletter - March 2021 28 April 2021 by Daniel J. Weiss , Stephen L. Ascher , Michelle M. McAtee , Todd C. Toral , Andrew W. Vail and Abraham Michael Salander Jenner & Block To print this article, all you need is to be registered or login on Mondaq.com.
Recent Rulings In COVID-19-Related Lease Disputes
United States: Recent Rulings In COVID-19-Related Lease Disputes 06 April 2021 by Daniel J. Weiss , Stephen L. Ascher , Todd C. Toral , Andrew W. Vail , Michelle M. McAtee and Abraham Michael Salander Jenner & Block To print this article, all you need is to be registered or login on Mondaq.com.
Illiquid Asset Valuation Presents Unique Risks Amid Pandemic
By Stephen Ascher, Charles Riely and Andrew Lichtman Law360 is providing free access to its coronavirus coverage to make sure all members of the legal community have accurate information in this time of uncertainty and change. Use the form below to sign up for any of our weekly newsletters. Signing up for any of our section newsletters will opt you in to the weekly Coronavirus briefing.
SEC Investigation Shows Maturation Of Cannabis Scrutiny
Law360 (March 31, 2020, 4:27 PM EDT) -- The U.S. Securities and Exchange Commission is investigating cannabis giant Cronos Group Inc. for potential accounting irregularities. Although the SEC has devoted significant resources to root out offering fraud and market manipulation in marijuana-related penny stocks, this appears to be the SEC’s first publicly reported investigation into a major cannabis company.
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