S & L suits: unjust, yes but coming to an end

Article Abstract:

Suits by the Resolution Trust Corp (RTC) in connection with the savings and loan debacle will wind down, despite RTC protestations to the contrary, because the agency will realize that professional liability suits do not pass the cost-benefit test. Proponents claim the suits can recoup some of the monies the taxpayers lost, but the courts are realizing that former thrift directors are not the deep pockets they were thought to be. Moreover, the search for scapegoats for the debacle has lost some of its political popularity and corrective laws to curtail the RTC's power are being considered.

United States. Resolution Trust Corp., Bank directors

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Nightmare for bank lawyers

Article Abstract:

Bank lawyers were given pause by the Office of Thrift Supervision's (OTS) $600,000 settlement with James S. Fleischer, an attorney who once prepared a legal opinion for Charles Keating and was a minor figure in the savings and loan crisis. The OTS' jurisdiction in the case was questionable, and it stands alone among regulatory agencies in its authority to sanction lawyers directly. The settlement with Feinstein comes in the wake of the OTS' settlement with Kaye, Scholer, Fierman, Hays and Handler on their role in the savings and loan crisis.

Powers and duties, United States. Office of Thrift Supervision

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The foreclosure must go on: L.A. bankruptcy judges give the hook to 'artful dodger' debtors

Article Abstract:

Judges of the US Bankruptcy Court in Los Angeles, CA, are utilizing the equitable remedy of in rem relief to halt debtor abuse of the automatic stay in bankruptcy proceedings. In rem relief apply directly to the property and places the burden on the debtors to prove they deserve the protection provided from an automatic stay. Congress and other jurisdictions have turned to in rem relief to fight fraudulent use of the Bankruptcy Code.

United States, Usage, California, Foreclosure, Bankruptcy, Stays of execution, proceedings, etc., Stays (Law), Actions in rem

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