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Rodriguez V. FDIC
''Rodriguez v. FDIC'' was a United States Supreme Court case (589 U.S. ____ (2020)) in which the court held that the ''Bob Richards'' rule was not appropriately crafted and federal judges should not apply it when resolving disputes about tax allocations to members of an affiliated group filing a consolidated return. Background The United Western Bank entered FDIC receivership in 2011, in the aftermath of the 2008 financial crisis after suffering losses from exposure to mortgage backed securities and commercial borrower defaults. After a federal judge ruled in a separate lawsuit challenging the bank shutdown that regulators' decision to put the bank into receivership was reasonable and within their discretionary powers the bank's parent company, United Western Bancorp, entered into chapter 7 bankruptcy, and Simon Rodriguez – the plaintiff in ''Rodriguez v. FDIC''– was named as the trustee. The dispute arose between bankruptcy trustee Simon Rodriguez and the FDIC over who wou ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States Supreme Court
The Supreme Court of the United States (SCOTUS) is the highest court in the federal judiciary of the United States. It has ultimate appellate jurisdiction over all U.S. federal court cases, and over state court cases that turn on questions of U.S. constitutional or federal law. It also has original jurisdiction over a narrow range of cases, specifically "all Cases affecting Ambassadors, other public Ministers and Consuls, and those in which a State shall be Party." In 1803, the Court asserted itself the power of judicial review, the ability to invalidate a statute for violating a provision of the Constitution via the landmark case '' Marbury v. Madison''. It is also able to strike down presidential directives for violating either the Constitution or statutory law. Under Article Three of the United States Constitution, the composition and procedures of the Supreme Court were originally established by the 1st Congress through the Judiciary Act of 1789. As it has si ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United Western Bank (United States)
United Western Bank (UWB) was an Indian bank founded in 1936 that IDBI Bank acquired in 2006 in a rescue. The Reserve Bank of India placed UWB under a moratorium to protect the interest of public and depositors as growing losses eroded its capital. Annasaheb Chirmule, a leader of the Swadeshi movement, founded Satara Swadeshi Commercial Bank in 1907, and some three decades later founded United Western Bank. The bank was incorporated in 1936, and commenced operations the next year. UWB's head office was in Satara, in Maharashtra State. It became a Scheduled Bank in 1951. In 1956, UWB acquired Union Bank of Kolhapur, which had been incorporated on 5 July 1949. In 1961, UWB acquired Satara Swadeshi Commercial Bank. Established on 20 August 1907, this was the first bank established at Satara. At the time of the merger with IDBI, UWB had some 230 branches spread over 47 districts in 9 states, controlled by five Zonal Offices at Mumbai, Pune, Kolhapur, Jalgaon, and Nagpur ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Receivership
In law, receivership is a situation in which an institution or enterprise is held by a receiver – a person "placed in the custodial responsibility for the property of others, including tangible and intangible assets and rights" – especially in cases where a company cannot meet its financial obligations and is said to be insolvent. The receivership remedy is an equitable remedy that emerged in the English chancery courts, where receivers were appointed to protect real property. Receiverships are also a remedy of last resort in litigation involving the conduct of executive agencies that fail to comply with constitutional or statutory obligations to populations that rely on those agencies for their basic human rights. Types of receivership Receiverships can be broadly divided into two types: *those related to insolvency or enforcement of a security interest *those where either: **a person is incapable of managing their affairs and a court has appointed a receiver to ma ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
2008 Financial Crisis
The 2008 financial crisis, also known as the global financial crisis (GFC), was a major worldwide financial crisis centered in the United States. The causes of the 2008 crisis included excessive speculation on housing values by both homeowners and financial institutions that led to the 2000s United States housing bubble, exacerbated by predatory lending for subprime mortgages and deficiencies in regulation. Cash out refinancings had fueled an increase in consumption that could no longer be sustained when home prices declined. The first phase of the crisis was the subprime mortgage crisis, which began in early 2007, as mortgage-backed securities (MBS) tied to U.S. real estate, and a vast web of Derivative (finance), derivatives linked to those MBS, collapsed in value. A liquidity crisis spread to global institutions by mid-2007 and climaxed with the bankruptcy of Lehman Brothers in September 2008, which triggered a stock market crash and bank runs in several countries. The crisis ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mortgage Backed Securities
A mortgage-backed security (MBS) is a type of asset-backed security (an " instrument") which is secured by a mortgage or collection of mortgages. The mortgages are aggregated and sold to a group of individuals (a government agency or investment bank) that securitizes, or packages, the loans together into a security that investors can buy. Bonds securitizing mortgages are usually treated as a separate class, termed residential; another class is commercial, depending on whether the underlying asset is mortgages owned by borrowers or assets for commercial purposes ranging from office space to multi-dwelling buildings. The structure of the MBS may be known as "pass-through", where the interest and principal payments from the borrower or homebuyer pass through it to the MBS holder, or it may be more complex, made up of a pool of other MBSs. Other types of MBS include collateralized mortgage obligations (CMOs, often structured as real estate mortgage investment conduits) and collateral ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Internal Revenue Service
The Internal Revenue Service (IRS) is the revenue service for the Federal government of the United States, United States federal government, which is responsible for collecting Taxation in the United States, U.S. federal taxes and administering the Internal Revenue Code, the main body of the federal statutory tax law. It is an agency of the United States Department of the Treasury, Department of the Treasury and led by the Commissioner of Internal Revenue, who is appointed to a five-year term by the President of the United States. The duties of the IRS include providing tax assistance to taxpayers; pursuing and resolving instances of erroneous or fraudulent tax filings; and overseeing various benefits programs, including the Affordable Care Act. The IRS originates from the Commissioner of Internal Revenue, a federal office created in 1862 to assess the nation's first income tax to fund the American Civil War. The temporary measure funded over a fifth of the Union's war expens ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States District Court
The United States district courts are the trial courts of the United States federal judiciary, U.S. federal judiciary. There is one district court for each United States federal judicial district, federal judicial district. Each district covers one U.S. state or a portion of a state. There is at least one List of United States federal courthouses, federal courthouse in each district, and many districts have more than one. District court decisions are appealed to the United States courts of appeals, U.S. court of appeals for the circuit in which they reside, except for certain specialized cases that are appealed to the United States Court of Appeals for the Federal Circuit, U.S. Court of Appeals for the Federal Circuit or directly to the Supreme Court of the United States, U.S. Supreme Court. District courts are courts of common law, law, Court of equity, equity, and Admiralty court, admiralty, and can hear both Civil law (common law), civil and Criminal law, criminal cases. B ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States Court Of Appeals For The Tenth Circuit
The United States Court of Appeals for the Tenth Circuit (in case citations, 10th Cir.) is a federal court with appellate jurisdiction over the district courts in the following districts: * District of Colorado * District of Kansas * District of New Mexico * Eastern District of Oklahoma * Northern District of Oklahoma * Western District of Oklahoma * District of Utah * District of Wyoming These districts were part of the Eighth Circuit until 1929. The court is composed of nineteen active judges and is based at the Byron White U.S. Courthouse in Denver, Colorado. It is one of thirteen United States courts of appeals and has jurisdiction over 560,625 square miles, or roughly one seventh of the country's land mass. History Congress created a new judicial circuit in 1929 to accommodate the increased caseload in the federal courts. Between 1866 and 1912, twelve new states had entered the Union and been incorporated into the Eighth and Ninth Circuits. The Eighth Circ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Writ Of Certiorari
In law, ''certiorari'' is a court process to seek judicial review of a decision of a lower court or government agency. ''Certiorari'' comes from the name of a prerogative writ in England, issued by a superior court to direct that the record of the lower court be sent to the superior court for review. Derived from the English common law, ''certiorari'' is prevalent in countries using, or influenced by, the common law''.'' It has evolved in the legal system of each nation, as court decisions and statutory amendments are made. In modern law, ''certiorari'' is recognized in many jurisdictions, including England and Wales (now called a "quashing order"), Canada, India, Ireland, the Philippines and the United States. With the expansion of administrative law in the 19th and 20th centuries, the writ of ''certiorari'' has gained broader use in many countries, to review the decisions of administrative bodies as well as lower courts. Etymology The term ''certiorari'' (US English: , , o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
SCOTUSblog
''SCOTUSblog'' is a law blog written by lawyers, legal scholars, and law students about the Supreme Court of the United States (sometimes abbreviation, abbreviated "SCOTUS"). Formerly sponsored by Bloomberg Law and now owned by ''The Dispatch'', the site tracks cases before the Court from the certiorari stage through the Merit (law), merits stage. The site live blogs as the Court announces opinions and grants cases, and sometimes has information on the Court's actions published before either the Court or any other news source does. SCOTUSblog frequently hosts symposiums with leading experts on the cases before the Court. The blog comprehensively covers all of the cases argued before the Court and maintains an archive of the briefing and other documents in each case. History and growth The blog's first post was published on October 1, 2002. Founded by Supreme Court litigator Tom Goldstein and former litigator Amy Howe, the blog began as a means of promoting their law firm then kn ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Remand (court Procedure)
Remand is when higher courts send cases back to lower courts for further action. In the law of the United States, appellate courts remand cases to district courts for actions such as a new trial. Federal appellate courts, including the Supreme Court, have the power to "remand cause and ... require such further proceedings to be had as may be just under the circumstances.". This includes the power to make summary "grant, vacate and remand" (GVR) orders.''Lawrence v. Chater'', (per curiam), p. 166. Appellate courts remand cases whose outcome they are unable to finally determine. For example, cases may be remanded when the appellate court decides that the trial judge committed a procedural error, excluded admissible evidence, or ruled improperly on a motion. In common law jurisdictions, remand refers to the adjournment ( continuance) of criminal proceedings, when the accused is either remanded in custody or on bail. Appellate courts are said to remit matters to lower courts ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cort V
Precortistatin is a protein that in humans is encoded by the ''CORT'' gene. The 105 amino acid residue human precortistatin in turn is cleaved into cortistatin-17 and cortistatin-29. Cortistatin-17 is the only active peptide derived from the precursor. Cortistatin (or more specifically cortistatin-17) is a neuropeptide that is expressed in inhibitory neurons of the cerebral cortex, and which has a strong structural similarity to somatostatin. Unlike somatostatin, when infused into the brain, it enhances slow-wave sleep. It binds to sites in the cortex, hippocampus and the amygdala. Function Cortistatin is a neuropeptide with strong structural similarity to somatostatin (both peptides belong to the same family). It binds to all known somatostatin receptors, and shares many pharmacological and functional properties with somatostatin Somatostatin, also known as growth hormone-inhibiting hormone (GHIH) or by #Nomenclature, several other names, is a peptide hormone that regul ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
