Sentences with phrase «abacus federal»

Abacus: Small Enough to Jail (Google Play, Amazon Video, iTunes, Vudu, YouTube) In the wake of the ruinous late - 2000s subprime mortgage crisis, the family - owned Chinatown bank Abacus Federal Savings faced harsh legal comeuppance while the well - funded giants were bailed out and deemed too big to fail.

Actually, one company didn't get off scot - free: A family - run Chinese - American firm, Abacus Federal Savings Bank, became a scapegoat in the wake of larger criminality.

Abacus Federal Savings Bank is a modest institution of New York's Chinatown that came under harsh prosecution in the wake of the 2008 financial crisis.

Abacus Federal Savings Bank is the only institution to face criminal charges for its role in the subprime mortgage fiasco.

Not exact matches

Not only did the Federal Court of Appeal confirm that solicitor - client privilege encompasses common - interest privilege, but also the court held that Abacus's and Gillis's common interests warranted a finding that solicitor - client privilege protected the tax - planning memo from disclosure to the CRA:

While the Federal Court held that the Memo was subject to solicitor - client privilege, that Abacus and IGGillis had a common interest with respect to the subject matter of the Memo (i.e., reduction of tax and completion of the transactions), and that transactional common interest privilege is widely recognized in Canada, the Federal Court concluded that common interest privilege is not valid in circumstances other than litigation.

The Federal Court agreed with the Minister's argument that there was no common interest between Abacus and Gillis because they were on opposite sides of a transaction.