Debevoise & Plimpton LLP

Court Rejects "Coupon Settlement" Of Consumer Fraud Class Action After 36 State Attorneys General File Wide-Ranging Objection To The Practice
Jeffrey S. Jacobson, John S. Kiernan, November 6, 2007
This client update highlights a class action decision issued recently in Florida. The judge refused to approve a "coupon settlement" after 36 state attorneys general objected to the settlement.

Extension Comes Up Short: No Deferral Of 2007 Deadline For Many Important 409A Actions
Lawrence K. Cagney, Elizabeth Pagel Serebransky, Charles E. Wachsstock, November 6, 2007
This client update discusses why the IRS has issued additional guidance under Internal Revenue Code §409A and extended the period to bring deferred compensation plans into documentary compliance with §409A. There is no extension of prior transition rules and nonqualified deferred compensation plans...

New York Proposes Reinsurance Credit Reform
Wolcott B. Dunham, Nicholas F. Potter, John Dembeck, Elizabeth K. Brill, November 6, 2007
This client update highlights proposed significant changes to The New York Insurance Department's credit for reinsurance rules. These changes are set forth in a proposed amendment to its Regulation 20 draft dated October 18, 2007. If promulgated as proposed, the alternative credit provisions would...