Is Your Guaranty Enforceable After Foreclosure Without Confirmation By The...
Strong express terms of guaranty may allow creditors to collect deficiencies whether or not the foreclosure sales of real estate are confirmed. In the recent ruling of HWA Properties, Inc. v. Community...
View ArticleEPA’s Final Rule Accepts New ASTM Standards For All Appropriate Inquiries
On December 30, 2013, EPA issued its Final Rule which recognized that complying with the latest version of the ASTM Phase I Environmental Site Assessment Standards (E 1527-13) complies with the EPA all...
View ArticleContract Drafters Beware: No Appeal Arbitration Provisions May Not Be...
Inclusion of “no appeal” provisions in arbitration clauses has increased in recent years, as parties seek finality to the costly and time-consuming arbitration process. Commercial...
View ArticleSCOKY to Review “Secret Lien” Case
The Supreme Court of Kentucky (SCOKY) is expected to rule shortly on the enforceability of a secret lien in favor of a county economic development authority. The secured transaction provisions in...
View ArticleIRS Announces Guidance on Same Sex Marriage and Retirement Plans
On April 4, 2014, the IRS issued long awaited guidance on the application of the U.S. Supreme Court’s decision in United States v. Windsor on June 26, 2013, concerning same sex marriage to...
View ArticleFTC Fires Shot Across The Bow: Is Your Social Media Contest Next?
Our 2012 alert, “Like us” On Social Media! An Endorsement Under Advertising Laws? addressed the Federal Trade Commission’s decision on the implication of consumer...
View ArticleRaging Bull and Unintended Consequences of the CTEA? Supreme Court Holds...
The U.S. Supreme Court today handed down its decision holding that the Copyright Act’s statute of limitation barring actions not brought within three years of infringing conduct may end the...
View ArticleCollecting Charge-Offs: A Valuable Source of Revenue (Part One of Three-Part...
At the height of the Great Recession—the fourth quarter of 2009—banks charged off 3.1% of all loans, resulting in a net loss of nearly $51 billion in that quarter alone. Over $27...
View ArticleJudge Vacates $22 Million Verdict and Orders New Trial
Jefferson Circuit Judge Jim Shake vacated jury verdicts against several banks in a major lender liability/mortgage fraud case in Louisville. The verdict, one of the largest ever in a Kentucky lender...
View ArticleWDKY Holds that Service Charge on Delinquent Account Violates Kentucky Usury...
PSI, a debt collector, sought to collect a delinquent account from Grace, a consumer who had received medical services in the emergency room of a Louisville hospital. She failed to pay her bill, and...
View ArticleProtecting the Lender: Strategies for Extending Credit to Health Care Providers
Contrary to popular belief, lending to a doctor is risky business. The business of a health care provider is specialized, and therefore requires specialized lending. Lenders cannot simply repackage...
View ArticleCollecting Charge-Offs: A Valuable Source of Revenue (Part Two of Three-Part...
In this three-part series, Stites & Harbison (“S&H”) is examining the opportunities banks have to recover the large amount of loans that were charged off in the Great...
View ArticleJudge Vacates $22 Million Verdict and Orders New Trial
Jefferson Circuit Judge Jim Shake vacated jury verdicts against several banks in a major lender liability/mortgage fraud case in Louisville. The verdict, one of the largest ever in a Kentucky lender...
View ArticleIdle Threats of Bankruptcy after Ice House America, LLC
In almost every out-of-court workout situation, when the negotiations get tough and the debtor does not like the terms proposed by the creditor, it is more than common for the debtor to state:...
View ArticleFlorida Law Permits Limitations of Liability Clauses for Design Professionals
Florida enacted legislation making limitation of liability clauses for design professionals enforceable when certain conditions are met. The new law, passed last year, reverses the decision of a...
View Article8 Tips on U.S.P.T.O. Examiner Interviews
The author has practiced patent prosecution close to the U.S. Patent and Trademark Office for more than 30 years. He conducts examiner interviews on a regular basis and has conducted approximately...
View ArticleGet Your Disclosures On! - The FTC and Operation Full Disclosure
Sixty companies received warning letters from the Federal Trade Commission in September advising that disclosures, the so-called “small print” in advertising, were inadequate to...
View ArticleLabor Department Issues Final Rule to Establish a Minimum Wage for Federal...
On October 1, 2014, the United States Department of Labor issued a Final Rule to establish a minimum wage of $10.10 per hour for certain federal contractors beginning January 1, 2015. The rule...
View ArticleCollecting Attorney's Fees - To Sue or Not To Sue?
Some creditors believe that they can only collect contractual attorney’s fees if their attorney files suit against the debtor and obtains judgment. That is not the case. Creditors do not have...
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