It wasn’t just Enron Corp. that was responsible for the massive fraud that wiped out the once-mighty energy trader, creditors contend. Nearly a dozen banks also participated, they argue. And,…
The virtual online world of Second Life has shut down about a dozen of its pretend financial institutions following complaints that they failed to pay…
Once upon a time, when borrowers couldn’t pay their mortgages, the banks who loaned money to them foreclosed. But today, faced with record-breaking foreclosure rates and a housing market in…
A growing tsunami of investigations, class actions and bankruptcies resulting from the U.S. mortgage meltdown has created a business boom in some BigLaw practice areas.
In a tradition-breaking move that could soon be copied by other renowned “magic circle” law firms in London, Linklaters is helping a longtime client file suit against another financial institution.
The U.S. Supreme Court could decide as early as Monday whether to deny cert to Enron shareholders or return the case to an appeals court, giving an indication whether the…
Bankruptcy judges are criticizing the business practices of Countrywide Financial, part of the legal headaches that Bank of America Corp. will be taking on when it acquires the troubled lender.
Back in the day when a savings account required a passbook in which the bank manually entered each deposit and withdrawal, a client of Ogden, Utah, attorney George B. Handy…
Bank of America Corp.’s newly announced deal to buy Countrywide Financial Corp. likely could cost considerably more than the $4 billion purchase price.
A lawyer at a well-known British firm says a wave of lawsuits being filed over subprime mortgage issues could eventually exceed the scope of the litigation over the infamous Enron…
A 1,000-lawyer Chicago-based international firm is opening a Charlotte, N.C., office with six partners lured from a local firm, and expects to bring in a dozen more lawyers from the…
A lawyer for a borrower being pursued by Countrywide Financial Corp. had a question: Why did a letter purportedly sent in September 2003 have an office address for him that…
A lawsuit contends Wells Fargo Bank has cost the city of Baltimore needed tax revenues through subprime lending practices that led to increased foreclosures.
State Street Corp. is reserving $618 million to fund legal and other costs after customer complaints that they were improperly exposed to investments in subprime mortgages.
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