ACIC Private Notes - November 2018

Welcome to the November 2018 edition of the ACIC Private Notes! In this month's edition, you will find a recap of the memorable "Canterbury Tales" themed Annual Meeting and Education Conference held on October 18 th & 19 th at the Grand Hyatt in New York City, along with photos, courtesy of Charles Calloway of

Chapman and Cutler LLP.

This edition also contains recent case law summaries from the Rocky Mountain/Western region, courtesy of David Simonds and Edward McNeilly of Akin Gump, a summary of a recent decision of the SDNY Bankruptcy Court contributed by Aaron Wernick of Met Life, and a tax law update from Baker Botts LLP regarding the effect of the proposed regulations under Section 956 of the Internal Revenue Code on financing transactions involving domestic corporations.

With New York now behind us, it's time to mark your calendars for next year's Spring Forum to be held on April 4th and 5th, 2019 at the Four Seasons in Chicago. We hope to see you there!

Recap of 2018 Annual Meeting and Education Conference

Sarah Smith of Akin Gump and Michael Shepherd of Genworth recently co-chaired an interactive and engaging program at the 2018 Canterbury Tales-themed Annual Meeting and Education Conference.

For a re-cap of the sessions, click here. To access this year's photo album, click here.

Recent Case Law Summaries

Rocky Mountain/Western Case Updates

Under California law, an interest rate term in a consumer loan contract may be unconscionable, even if the loan is for $2,500 or more and therefore not subject to the statutory interest rate cap . Click here to read more.

A bankruptcy court may not designate claims for bad faith because a creditor purchased the claims to block a plan of reorganization, unless evidence shows that the creditor is acting with a motive ulterior to protecting its economic self-interest. Click here to read more.

A federal court may enforce the legal provisions of a promissory note made to a marijuana business if, under substantive state law, the legal provisions of the promissory note may be severed from the promissory note's illegal provisions. Click here to read more.

SDNY Bankruptcy Court Update

The SDNY Bankruptcy Court recently held that conditional language trumps market customs in a claims trading dispute. To read more, click here.

Proposed Regulations to Section 965 of Internal Revenue Code

The proposed regulations under Section 956 of the Internal Revenue Code will affect guarantor groups and collateral bases for financing transactions involving domestic corporations.

To access the bulletin prepared by Baker Botts LLP on this topic, click here.

American College of Investment Counsel

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