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
Wilmington Trust Defense Fights to Keep Damaging Evidence from Eyes of the Jury
During the first week of the Wilmington Trust criminal trial, attorneys clashed over whether grand jury testimony claiming bank executives pressured employees to paint too rosy a picture of its toxic loan portfolio could be repeated to freshly minted trial jurors. Click to read full article: Continue Reading
Wilmington Trust Past Due Waivers Said to Run for Years
A Wilmington Trust Corp. backlog of unacknowledged, past due commercial loans included 142 debts worth $177.3 million that were six months to three-and-a-half years past due when 2009 ended, a witness said Friday during a Delaware fraud and securities trial for four bank executives. Continue Reading
Energy Storage CEO Says Industry Is Finally Getting Noticed
Michael Oster is CEO of a local energy storage company, which means he undoubtedly stands to benefit from the latest decree from federal energy regulators. The Federal Energy Regulatory Commission, or FERC, passed a rule at the end of February that puts energy storage on an equal footing with Continue Reading