Wells Fargo to pay $1.2B for ‘reckless’ mortgages

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NEW YORK — San Francisco bank Wells FargoWednesday said it has agreed to fork over $1.2 billion to settle allegations that it fraudulently certified loans in connection with a government insurance program.  > Read the story.

A Thank You To Emil Onolfi

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I want to make a special mention here to thank Emil (EJ) Onolfi for his invaluable assistance with legal research and writing for some of my blog posts on commercial litigation issues.  EJ is a 2d year law student at Brooklyn Law School and is currently interning with my law firm this semester.  My paralegal Diana and I wish him the best of luck in his future career as an attorney.

Scott

Thanks to Nicholas Ribaudo

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I want to make a special mention here to thank Nicholas Ribaudo for his assistance with helping to get many of my blog posts online and with writing and editing.  Nick is a 2d year law student at Brooklyn Law School and is currently interning with my law firm this semester.  He has done a fantastic job helping me and my paralegal Diana and we wish him the best of luck in his future career as an attorney.

Scott

 

 

Statute of Limitations for Commercial Claims

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The law makes sure that no one needs to fear the threat of lawsuit for the rest of their lives over one incident. Statute of limitations provide set time limits for different causes of action, and once that time has passed, that claim can no longer be brought in front of a court. Here are the standards for some of the more common commercial claims in New York.  Read more

New York IRA and 401(k) exempt from alimony arrears?

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A former spouse does have a legal basis to try to enforce the judgment for alimony against an IRA and 401(k) in New York. The accounts would fall within this exception in CPLR 5205(c)(4) and would not be exempt under these circumstances. See a comprehensive analysis of the law below… Read more