Articles in Channel: Tax & Financial Law

Set Off Provisions In Bank Agreement Does Not Override IRA Protection

Jonathan Alper
March 22, 2012 14:48

 A caller was concerned that his IRA funds held as his bank’s brokerage department are not protected against an outstanding judgment because of a “set off” provision of the bank’s depositor agreement. The agreement states that “to the extent permitted by...

Accredited Investors and Crowdfunding

Jack J. Gravelle
March 22, 2012 14:46

In February the SEC issued a Small Entity Compliance Guide that provides a summary of the relatively new net worth standard in the definition of “accredited investor” under the Securities Act, as required by the Dodd-Frank Act.  Section 413(a) of the Dodd-Frank Act requires that...

Defective PA Act 91 Notice May Subject Pending Foreclosures to Litigation

March 22, 2012 09:30

By Patrick Thomas Woodman, Esq. On January 30, 2012, the Pennsylvania Superior Court issued an opinion in the Vukmam case (259 WDA 2011 Superior Court of Pennsylvania) affirming a trial court Order that vacated a Sheriff Sale based on what the court found was a defective Act 91 Notice to the...

Once More Into The Breach

Kevin Funnell
March 22, 2012 02:42

I'm traveling the next two weeks and blogging, therefore, will be sporadic. While I'm gone, I'd like to post a portion of my Disclaimer, since no matter how much I write about this topic, a few readers remain utterly resistant...I'm traveling the next two weeks and blogging, therefore, will be...

Bahraini Investment Bank, Arcapita Bank BSC, Files for Bankruptcy in the Southern District of New York

Jason Cornell
March 22, 2012 00:42

Introduction On Monday, Arcapita Bank BSC ("Arcapita"), a Bahraini closed joint stock company, filed chapter 11 petitions for bankruptcy in the United States Bankruptcy Court for the Southern District of New York.  As stated in the First Day Declaration of Arcapita's Executive...

Surplus income limits for 2012 just released

March 22, 2012 00:42

Surplus income limits for 2012 just released. We explain what it means to anyone considering filing bankruptcy.The Office of the Superintendent of Bankruptcy just released the 2012 surplus income limits for everyone who files bankruptcy in Canada.  The amount you are required to pay if you are...

SEC Issues Investor Bulletin Regarding Municipal Bonds

March 21, 2012 23:38

BY CHARLES CAREY On March 19, the SEC’s Office of Investor Education and Advocacy issued an Investor Bulletin http://www.sec.gov/investor/alerts/municipalbonds.htm to help educate individual investors about municipal bonds. While the Investor Bulletin is fairly basic and addressed primarily...

Colorado Court of Appeals Releases Significant Decision Affecting Colorado Conservation Easement Litigation

March 21, 2012 23:10

Posted by Jennifer BendaOn March 15, the Colorado Court of Appeals issued its much anticipated decision in Kowalchik v. Brohl.  The Court determined that transferees who purchased conservation easement credits from donors of conservation easements were not required to be joined in the...

IRS Announces Closing Agreement Process for At-Risk Student Loan Bonds

March 21, 2012 22:33

The IRS has announced the procedures, and settlement cost methodology, for issuers seeking to preserve the tax-exemption of those student loan bonds that are at risk of being declared taxable due to the issuer's attempted compliance with arbitrage restrictions using a loan-swapping technique...

Bank of America: Too Crooked to Fail

March 21, 2012 21:25

 This bank is like the world's worst-behaved teenager, taking your car and running over kittens and fire hydrants on the way to Vegas for the weekend, maxing out your credit cards in the three days you spend at your aunt's funeral. And you thought I had negative things to say about Bank of...