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COFC Denies Protest But Notes Possible Procurement Integrity And Antitrust Violations

Client Alert | 1 min read | 06.09.04

In Naplesyacht.com, Inc. v. United States, the Court of Federal Claims denied a protest despite finding that the Navy had abused its discretion in finding the two awardees' proposals technically acceptable, concluding that the protestor had not shown irreparable injury because its damage was limited to lost profit on one boat and because the Navy had assured the court that the awardees would have no advantage in follow-on competitions. However, the court took the unusual measure of providing its opinion to the Antitrust Division of the Justice Department, under seal, based on the proximity of the two awardees' prices, suggesting that one awardee had pre-bid knowledge of the other's proposal, in possible violation of Section 1 of the Sherman Act and Section 423 of the Procurement Integrity Act.

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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....

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