A former Wilmington Trust Corp. manager testifying under a plea agreement told a Delaware jury Monday that a supervisor suggested in mid-2009 that the bank should stop updating commercial property appraisals tied to troubled loans despite growing outside attention. Under questioning from Continue Reading
McCarter & English Promotes 8 to Partnership in 5 Offices, 7 Practice Groups
Eight McCarter & English attorneys, resident in five of the firm’s offices and seven of its practice groups, have been elevated to partnership. Attorneys from the Boston, Hartford, Newark, New York City, and Wilmington offices have become partners. The new partners practice in intellectual Continue Reading
McCarter lawyers author Amicus brief on behalf of the New Jersey State Bar Association on the statute of limitations in legal malpractice cases
On behalf of the New Jersey State Bar Association McCarter lawyers David Kott, William Reilly and Christopher Rojao co-authored a New Jersey Appellate Division Amicus Curiae brief on choice of law on the statute of limitations in a legal malpractice case. The issue is of importance to NJ licensed Continue Reading
Del. Bank Paid Loan Interest to Prop up Past-Due Clients
Wilmington Trust Co. routinely extended new debt to some commercial borrowers so they could keep up monthly interest payments on matured loans as the Delaware-based bank struggled with a mounting and eventually ruinous past-due account burden, a former manager testified Thursday. Barbara Marley, Continue Reading
Wilmington Trust Execs Want Different ‘Past Due’ Rules Used
Criminal trial battling over the meaning of "past due" picked up again Tuesday in the federal trial of four Delaware-based Wilmington Trust executives accused of keeping timed-out debts off bank financial reports, with defense attorneys seeking court approval to invoke a more-permissive standard. Continue Reading
Wilmington Trust Execs Say Fed Never Flagged Loan Reports
An attorney for a former top Wilmington Trust Corp. executive noted Tuesday that Federal Reserve examiners never flagged seemingly "significant disparities" in Delaware bank loan reports in early 2009, despite later moves to charge the bank and four top officials for allegedly hiding past-due Continue Reading
McCarter & English Receives CIANJ’s Outreach Award
McCarter & English was honored by the New Jersey Commerce & Industry Association’s receiving the Companies that Care Outreach Award at their annual dinner, March 20, 2018. Our firm was recognized for the work we did for children including our work with Kids in Need of Defense. This included Continue Reading
USPTO Issues Written Description Guidance on Antibody Claims in View of Amgen v. Sanofi Case
In Amgen Inc. v. Sanofi, Opinion No. 17-1480 (Fed. Cir., Oct. 5, 2017), the Federal Circuit rejected the “newly characterized antigen” test as a means of satisfying the written description requirement for a claim to antibodies. The patents-in-suit are directed to antibodies that target Continue Reading
Lawyers Spar over Conspiracy Allegations as Wilmington Trust Trial Ends Week 1
The long-awaited Wilmington Trust criminal trial is finally underway in a Delaware federal court, as federal prosecutors this week made their case that four of the bank's former top executives orchestrated a scheme to hide hundreds of millions of dollars in bad loans from regulators and Continue Reading
Turner Selected to Law360’s Government Contracts Editorial Advisory Board
The purpose of the editorial advisory board is to get feedback on Law360's coverage and gain insight from experts in the field on how best to shape future coverage. Franklin Turner is a partner and co-leader of the government contracts and export controls practice group at McCarter & English. Continue Reading