Software Escrow: An enterprise resiliency tool every legal department should have in their toolbox (with Don Dennis Jr.)
Recently, FINRA released its letter of acceptance, waiver, and consent (AWC) against a securities firm for allegedly failing to use an escrow agent to custody customer funds. Among other things, the firm deposited investor...more
Construction transactions are characterized by many contracts involving multiple parties. While the terms of the parties’ individual contracts generally govern their relationships, parties should be aware that, intentionally...more
The Arizona Court of Appeals affirmed a jury verdict that imposed 100% liability on an escrow agent for a wire transfer it sent to a cybercriminal/imposter and attributed no fault to the imposter or the party whose systems...more
A recent groundbreaking case decided February 1, 2023, from the United States Court of Appeals for the Fifth Circuit highlights the importance of broad insurance coverage for title agents and other businesses vulnerable to...more
In June 2022, the FBI and Internet Crime Complaint Center (IC3) issued a warning about a new wire fraud scam involving attorney trust accounts and the acquisition of medical equipment that resulted in approximately $2 million...more
Much as one puts down earnest money in advance of closing on a home, or a lump sum down when buying a car, the buyer of a large commercial vessel will often lodge all or part of the purchase price with an escrow agent to...more
Vice Chancellor Glasscock discussed the limits of equitable jurisdiction in Elavon, Inc. v. Electronic Transaction Systems Corp, C.A. No. 2021-0440-SG, memo. op. (Del. Ch. Mar. 7, 2022). The Court granted a motion to dismiss...more
European Leveraged Finance Client Alert Series: September 2021 - White & Case explores the use of escrows in the leveraged finance market, offering issuers and investors practical guidance on the mechanics, protections and...more
Jerich Beason is joined by Don Dennis, who is an attorney focusing on copyright and trademark infringement, Internet law, defamation, trade secret misappropriation, data security breach, and privacy law. Jerich and Don...more
Financial Services Update - FDCPA / Definition of "Debt": a convenience fee is a separate charge for acceptance of payment that is not part of the underlying debt - Garbutt v. Ocwen Loan Servicing, LLC., No....more
In JTREO, Inc. v. Hightower & Assocs., the buyer of a note and mortgage sued the attorney for the lender who facilitated the transaction by loaning money to the buyer for breach of fiduciary duty arising from the fact that...more
Real Property Update - Foreclosure / Rule 1.491: Recommendation of immediate default entered by general magistrate violated the notice requirements of Rule 1.500, and was objectionable, but borrower waived the right to...more