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Agency's "Mail Storm" Excuses Late Proposal

Client Alert | 1 min read | 03.31.11

Moving beyond faxes into the computer age, the Court of Federal Claims in Watterson Constr. Co. v. U.S. (Mar. 29, 2011) found that a contractor's late proposal should be excused when the delay was caused solely by a "mail storm" at the agency which overloaded and slowed down its servers. Judge Braden found that the late proposal, received by the contracting officer 4 minutes after the deadline, is excused because the proposal was on time as it had been received by the agency's servers timely; even if it had been late, the FAR's "government control" exception applied; and, in any event, the "mail storm" was an "emergency or unanticipated event" which entitled the contractor to a 1-day extension under the FAR.

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Client Alert | 6 min read | 08.11.26

Lending Against Digital Assets: Five Key Takeaways for Lenders After a Year of Regulatory and UCC Change

Over the past 18 months, the federal banking agencies have clarified supervisory expectations for banks’ crypto-asset activities, and several of the largest U.S. banks have announced programs accepting Bitcoin and Ether as loan collateral. Separately, on June 3, 2026, New York’s enactment of the 2022 amendments to the Uniform Commercial Code took effect, changing the rules governing the perfection of a security interest in digital asset collateral in New York, the jurisdiction whose law governs most institutional credit documentation. Together, these developments may create significant opportunities for lenders navigating the complexities to comply with the newly enacted statutes. This alert surveys the current landscape, from regulatory permissibility and perfection through custody, structuring, and compliance, for institutions active in this market or considering entering it....