The following email address (lawyerinhouston.mylega1@blogger.com) was added to your Yahoo! account (mk******).
The following email address (lawyerinhouston.law122@blogger.com) was deleted from your Yahoo! account (mk******).
To ensure that your account information remains accurate and secure we notify you whenever this information changes.
This change request was made on April 12, 2011 at 02:17pm PDT.
If the changes described above are accurate, no further action is needed. If anything doesn't look right, follow the link below to make changes:
https://edit.yahoo.com/commchannel/manage?ar=2&ea=b14WoGc5gpySwla_Hk1MeQ107A.6cyrI5jMEJfvAVW5dqNp2WiC7SonLzeHNef7jRFloSjty6B0nqlMWLVOpybJ7xI6mijEn79znNz5fwnwu.rYlDX_F_.BKhQs-&intl=us&done=https%3A%2F%2Fedit.yahoo.com%2Fconfig%2Feval_profile
Regards,
Yahoo! Account Services
-------------------------
Please do not reply to this message. Mail sent to this address cannot be answered.
Tuesday, April 12, 2011
Monday, April 11, 2011
Troubled Bank Templates
Re-posted by Houston Lawyer - A recent complaint filed by the FDIC against former officers and directors of a failed bank followed what's become a fairly standard template. Although the Jacksonville (MO) JournalCourier calls the lawsuit a "fairly untypical maneuver," those of us who represent troubled banks and thrifts find the "maneuver" anything but "untypical."
In the case of Corn Belt Bank, which failed in 2009, the FDIC found five loans that caused losses to the bank ("Loss Loans"), alleged that the former directors and officers were negligent or grossly negligent in making the loans because they were improperly underwritten, and that the officers and directors breached their fiduciary duties to the bank. The former officers and directors failed to adequately inform themselves of the relevant risks and acted recklessly in approving them. In addition, the FDIC alleges undue loan concentration, out-of-area lending, high loan-to-value ratios, and overall weak loan administration. Finally, the FDIC alleges that regulatory examiners "repeatedly warned" the bank of these risks and the bank chose to ignore these warnings.
In another complaint filed by the FDIC against former officers and directors of Heritage Community Bank, which also failed in 2009 (and which we discussed a few months ago), the FDIC also alleged negligence, gross negligence and breach of fiduciary duty. In the Heritage Bank complaint, the bank, as is the case with many community banks that have failed and are expected to fail, grew rapidly by concentrating on commercial real estate loans, which went south when the economy crashed in 2008. According to the FDIC, the underwriting and loan administration and monitoring policies and procedures of the bank were deficient, which resulted in "Loss Loans" being made by the bank. The FDIC also alleges that instead of dealing conservatively with losses when they should have become evident by accurately classifying loans, increasing reserves, and preserving capital, the officers and directors "masked" the losses, continued to make deficient CRE loans, and, as a result, compounded the ultimate losses from those poorly underwritten loans. Again, the FDIC alleges that examiners warned the bank of these risks and that the warnings were ignored. In addition to losses on CRE loans, the FDIC is claiming losses on unjustified dividends and incentive payments made by the bank and claims specifically that the bank's former CFO was grossly negligent in failing to ensure that adequate reserves and capital were maintained, in advising that dividends and incentive compensation payments were proper, and in inaccurately advising the board of directors that interest on non-accrual loans "has only been deferred." Finally, the FDIC makes much of the bank's "undue concentration" on commercial real estate lending (responses to which we featured in our previous post linked above and in an earlier post from 2010).
None of these allegations is "untypical," based on what we've seen thus far. In fact, these types of allegations are standard stuff. As I've discussed in the past, many community banks focused on commercial real estate and today are bearing the bitter fruit of that concentration. The Monday morning quarterbacking will continue. The fun has only begun. [www.banklawyersblog.com]
In the case of Corn Belt Bank, which failed in 2009, the FDIC found five loans that caused losses to the bank ("Loss Loans"), alleged that the former directors and officers were negligent or grossly negligent in making the loans because they were improperly underwritten, and that the officers and directors breached their fiduciary duties to the bank. The former officers and directors failed to adequately inform themselves of the relevant risks and acted recklessly in approving them. In addition, the FDIC alleges undue loan concentration, out-of-area lending, high loan-to-value ratios, and overall weak loan administration. Finally, the FDIC alleges that regulatory examiners "repeatedly warned" the bank of these risks and the bank chose to ignore these warnings.
In another complaint filed by the FDIC against former officers and directors of Heritage Community Bank, which also failed in 2009 (and which we discussed a few months ago), the FDIC also alleged negligence, gross negligence and breach of fiduciary duty. In the Heritage Bank complaint, the bank, as is the case with many community banks that have failed and are expected to fail, grew rapidly by concentrating on commercial real estate loans, which went south when the economy crashed in 2008. According to the FDIC, the underwriting and loan administration and monitoring policies and procedures of the bank were deficient, which resulted in "Loss Loans" being made by the bank. The FDIC also alleges that instead of dealing conservatively with losses when they should have become evident by accurately classifying loans, increasing reserves, and preserving capital, the officers and directors "masked" the losses, continued to make deficient CRE loans, and, as a result, compounded the ultimate losses from those poorly underwritten loans. Again, the FDIC alleges that examiners warned the bank of these risks and that the warnings were ignored. In addition to losses on CRE loans, the FDIC is claiming losses on unjustified dividends and incentive payments made by the bank and claims specifically that the bank's former CFO was grossly negligent in failing to ensure that adequate reserves and capital were maintained, in advising that dividends and incentive compensation payments were proper, and in inaccurately advising the board of directors that interest on non-accrual loans "has only been deferred." Finally, the FDIC makes much of the bank's "undue concentration" on commercial real estate lending (responses to which we featured in our previous post linked above and in an earlier post from 2010).
None of these allegations is "untypical," based on what we've seen thus far. In fact, these types of allegations are standard stuff. As I've discussed in the past, many community banks focused on commercial real estate and today are bearing the bitter fruit of that concentration. The Monday morning quarterbacking will continue. The fun has only begun. [www.banklawyersblog.com]
Re-posted by Houston Lawyer
Sunday, April 10, 2011
18-year-Old Struck in Orange, California Pedestrian Accident Falls to His Death on the 57 Freeway
Re-posted by Houston Lawyer - Cameron Cook, 18, died early Sunday, from injuries that he sustained in an Orange, California car accident on Saturday night. Cook was standing outside a disabled 2001 Chevrolet Camaro on the 57 when a Honda Civic driven by 24-year-old Highland resident Ashley Bryan struck the disabled vehicle. The car hit Cook, pushing him over an overpass railing.
Cook fell some 50 to 60 feet before landing on a concrete embankment under the freeway. He was transported to UCI Medical Center where he was later pronounced dead.
Also injured was Logan Vescio, 18, who had been seated in the disabled Camaro. He sustained facial abrasions. Bryan was also hurt. She is charged with felony vehicular manslaughter while intoxicated and other criminal charges. Police say that her BAC was .17%, which is over twice the legal limit.
California Pedestrian Accidents
A pedestrian that gets hit by a vehicle moving at speeds of 65 mph or greater has no protection from the force of impact during this type of Orange County, California car crash. According to the CHP there were 164 California pedestrian deaths on freeways in 2009. There were 185 California pedestrian deaths on freeways in 2008.
Comparative Fault
California is a comparative fault state. Unlike comparative negligence states, where a victim has to be less than 51% at fault to recover compensation, or contributory negligence states, where if the victim is even a little at fault then he/she cannot recover anything, in this state, an injury victim who files a California personal injury complaint may be able to recover California injury damages as long as he/she isn't determined to be 100% at fault.
It is important to make sure that you or your family is represented by an experienced Orange, California personal injury law firm that knows how to prove that the other party was liable for your injuries. [http://www.californiainjurylawyersblog.com]
Cook fell some 50 to 60 feet before landing on a concrete embankment under the freeway. He was transported to UCI Medical Center where he was later pronounced dead.
Also injured was Logan Vescio, 18, who had been seated in the disabled Camaro. He sustained facial abrasions. Bryan was also hurt. She is charged with felony vehicular manslaughter while intoxicated and other criminal charges. Police say that her BAC was .17%, which is over twice the legal limit.
California Pedestrian Accidents
A pedestrian that gets hit by a vehicle moving at speeds of 65 mph or greater has no protection from the force of impact during this type of Orange County, California car crash. According to the CHP there were 164 California pedestrian deaths on freeways in 2009. There were 185 California pedestrian deaths on freeways in 2008.
Comparative Fault
California is a comparative fault state. Unlike comparative negligence states, where a victim has to be less than 51% at fault to recover compensation, or contributory negligence states, where if the victim is even a little at fault then he/she cannot recover anything, in this state, an injury victim who files a California personal injury complaint may be able to recover California injury damages as long as he/she isn't determined to be 100% at fault.
It is important to make sure that you or your family is represented by an experienced Orange, California personal injury law firm that knows how to prove that the other party was liable for your injuries. [http://www.californiainjurylawyersblog.com]
Re-posted by Houston Lawyer
Friday, April 8, 2011
Florida Estate Planning Lawyer Blog - New Post: Do You Trust the Florida Trustee?
Re-posted by Houston Lawyer - As a Jacksonville Beach Estate Planning Attorney I have heard countless stories of trustees who have been entrusted to administer, distribute, and account for trust funds to family members and beneficiaries . . . who DON'T!
Sad but true, the death of a grantor, trustor, or settlor of a trust fund may reign in the terror and unabashed greed of many trustees.
The Florida Trust Code provides that a Trustee of an irrevocable trust is required to keep beneficiaries of the trust fund informed about the trust and its administration. <a href="http://www.jacksonvillelawyer.pro/lawyer-attorney-1335101.html" target=new>Florida Revocable Trusts</a> become irrevocable upon the death of one or all of the grantors. Florida Statutes also dictate that the trustee make available to all beneficiaries certain accountings which will among other things:
• Show all cash and property transactions and all significant transactions affecting administration during the accounting period, including compensation paid to the Trustee; and
• Reflect the allocation of receipts, disbursements, accruals, or allowances between income and principal when the allocation affects the interest of any beneficiary of the trust.
If you are a Qualified Beneficiary of a Florida Trust and believe you are not receiving the information you are entitled to from a Trustee, contact a Jacksonville Beach Trust Attorney who can discuss with you several options on how you can remedy your situation. [www.guntrustlawyer.com]
Re-posted by Houston Lawyer
Sad but true, the death of a grantor, trustor, or settlor of a trust fund may reign in the terror and unabashed greed of many trustees.
The Florida Trust Code provides that a Trustee of an irrevocable trust is required to keep beneficiaries of the trust fund informed about the trust and its administration. <a href="http://www.jacksonvillelawyer.pro/lawyer-attorney-1335101.html" target=new>Florida Revocable Trusts</a> become irrevocable upon the death of one or all of the grantors. Florida Statutes also dictate that the trustee make available to all beneficiaries certain accountings which will among other things:
• Show all cash and property transactions and all significant transactions affecting administration during the accounting period, including compensation paid to the Trustee; and
• Reflect the allocation of receipts, disbursements, accruals, or allowances between income and principal when the allocation affects the interest of any beneficiary of the trust.
If you are a Qualified Beneficiary of a Florida Trust and believe you are not receiving the information you are entitled to from a Trustee, contact a Jacksonville Beach Trust Attorney who can discuss with you several options on how you can remedy your situation. [www.guntrustlawyer.com]
Re-posted by Houston Lawyer
Monday, April 4, 2011
Save Your Money on Music Contracts
How much would you guess at an entertainment attorney should charge hourly to draft music contract for you. Would you guess $25, $50, $100, or more. Here, I wish safely assume that you must not spent your money for that kind of attorney’s commissions.
Attorney’s commissions can be taken easily from your necessities of music contract like studio recording, payroll, publishing, entertaining clients, advertising,etc. These activities will processed day to day while you spend your money more and more. Don’t let this unnecessary thing occured to you, because your money is better spent elsewhere.
When you hire an entertainment attorney, you should pay bill for paralegals or legal secretaries who make the contract. The attorney is a boss who lead this law firm and get money without any exhausted job. Keep in mind when you hire an attorney, you have to pay bill for him and his paralegals who make the contract.
While, there is easier way to safe your money on music contract is by using music contract forms that cover every aspect of the music business. You may fill this form all about distribution, manufacturing, royalties, copyrights, publishing, etc. When it is all over, you can ask your attorney to review it. Here, you only be billed for 20 minutes as opposed to 5 hours. [Houston Lawyer]
Attorney’s commissions can be taken easily from your necessities of music contract like studio recording, payroll, publishing, entertaining clients, advertising,etc. These activities will processed day to day while you spend your money more and more. Don’t let this unnecessary thing occured to you, because your money is better spent elsewhere.
When you hire an entertainment attorney, you should pay bill for paralegals or legal secretaries who make the contract. The attorney is a boss who lead this law firm and get money without any exhausted job. Keep in mind when you hire an attorney, you have to pay bill for him and his paralegals who make the contract.
While, there is easier way to safe your money on music contract is by using music contract forms that cover every aspect of the music business. You may fill this form all about distribution, manufacturing, royalties, copyrights, publishing, etc. When it is all over, you can ask your attorney to review it. Here, you only be billed for 20 minutes as opposed to 5 hours. [Houston Lawyer]
Subscribe to:
Posts (Atom)