The Creditors Rights

AUGUST 30, 2016

DeNoce filed an adversary proceeding, seeking the denial of Neff’s discharge under § 727(a)(2) of the Bankruptcy Code, asserting the transfer of the condominium was made with intent to hinder, delay or defraud creditors. The court stated: “At the core of the Bankruptcy Code are the twin goals of ensuring an equitable distribution of the debtor’s assets to his creditors and giving the debtor a fresh start.”

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The Creditors Rights

SEPTEMBER 13, 2016

In an important decision for debtors and creditors alike, the United States Bankruptcy Court for the District of Delaware has ruled that provisions in a limited liability company operating agreement, granting the company’s lender absolute power to prevent the company from filing a bankruptcy petition are unenforceable as against public policy. 1987) (“for public policy reasons, a debtor may not contract away the right to a discharge in bankruptcy.”).

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The Creditors Rights

JULY 19, 2016

The facts in Roxenberg arose from the dismissal of an involuntary bankruptcy petition, followed by the debtor’s filing an adversary proceeding against the petitioning creditors seeking compensatory and punitive damages as well as attorney’s fees incurred in defending the involuntary petition and in prosecuting the adversary proceeding. The petitioning creditors filed the motion within the 28-day deadline in the Federal Rule, but after the 14-day deadline in the Bankruptcy Rule.

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The Creditors Rights

AUGUST 16, 2016

Bankruptcy Creditor Rights 363(f) due process free and clear lack of notice notice successor liabilityThe Second Circuit ’s recent opinion in The Matter of: Motors Liquidation Company , 2016 WL 3766237 (2 nd Cir. 2016) should give pause to all buyers of assets from bankruptcy estates.

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The Creditors Rights

JUNE 21, 2016

Section 523(a)(2)(A) of the Bankruptcy Code allows a creditor to obtain a judgment denying its debtor a discharge of debts incurred by false pretenses or actual fraud. However, if the debt itself was not incurred by actual fraud, but the debtor subsequently transfers his assets with the intent prevent its creditors from obtaining payment, may the creditor still obtain a judgment denying the debtor’s discharge under § 523(a)(2)(A)?

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The Creditors Rights

JUNE 7, 2016

This Special Member had no right to distributions and was not required to make capital contributions. Bankruptcy Creditor Rights bankruptcy blocking director corporate governance operating agreement special directorMany lenders attempt to render their borrower bankruptcy remote by requiring the borrower to have on its board a director, known as a “blocking director,” whose consent is required for any bankruptcy filing.

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The Creditors Rights

JULY 5, 2016

Each lender was a net winner of the Ponzi scheme and, therefore, not a creditor of the bankruptcy estate of its specific SPE when the bankruptcy filings occurred. To meet this standard, the order must diminish the person’s property, increase his burdens or impair his rights. They were not creditors of the estates. Bankruptcy Creditor Rights appeal bankruptcy filing Opportunity Finance person aggrieved Petters Company Ponzi scheme special purpose entity standing

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The Creditors Rights

MAY 24, 2016

The Ninth Circuit BAP recently discussed on appeal the issue of whether a bankruptcy court may use the “fair and equitable” standard for confirmation in § 1129(b) to deny an oversecured creditor default interest on its claim to which it would otherwise be entitled under § 506(b). The creditor enjoys a presumption that the contracted for rate is reasonable, and the debtor bears the burden of demonstrating it is not, or that the rate is not enforceable under applicable non-bankruptcy law.

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The Creditors Rights

MARCH 15, 2016

The creditor in Blendheim was HSBC Bank, which held a deed of trust lien on the debtors’ home. Because this section provides that a lien is void if it secured a debt which is not an allowed secured claim, the court concluded that Congress’ intent was manifest, and held the purpose of § 506(d) was to nullify a creditor’s legal rights in a debtor’s property if the creditor’s claim is disallowed. Congress enacted § 1328(f) of the Bankruptcy Code when its passed BAPCPA.

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Jimerson Firm

JANUARY 18, 2023

Professional Services Industry Legal Blog Business Litigation Creditors Rights and Commercial Collections Florida Business Litigation Blog

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Jimerson Firm

MARCH 12, 2021

Banking & Financial Services Industry Legal Blog Creditors Rights and Commercial CollectionsIn Florida, foreclosure actions must be brought in the county where the land is located. This is typically referred to as the “local action rule.”

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Jimerson Firm

JANUARY 18, 2023

Professional Services Industry Legal Blog Business Litigation Creditors Rights and Commercial Collections Florida Business Litigation Blog

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Jimerson Firm

JANUARY 17, 2023

Real Estate Development, Sales and Leasing Industry Legal Blog Business Litigation Construction Law Creditors Rights and Commercial Collections Florida Business Litigation Blog Real Estate Law

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Jimerson Firm

FEBRUARY 15, 2021

Banking & Financial Services Industry Legal Blog Creditors Rights and Commercial CollectionsIn Florida, mortgage foreclosure lawsuits are filed in the county where the property is located.

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Jimerson Firm

DECEMBER 8, 2020

In 2014, Form 1.996(a) was further amended to add titles, update the statutory reference to time for right of redemption, and add a paragraph on attorneys’ fees. Banking & Financial Services Industry Blog Creditors Rights and Commercial Collections

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Jimerson Firm

JANUARY 28, 2021

Banking & Financial Services Industry Legal Blog Creditors Rights and Commercial Collections

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Jimerson Firm

DECEMBER 15, 2020

For example, the receiver may be able to reject executory contracts of the receivership estate during the receivership, sell receivership property free and clear of existing liens, settle claims with the approval of the court and assert rights held by the borrower.

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Jimerson Firm

FEBRUARY 18, 2021

However, there are important aspects of the Construction Lien Law that can directly affect the rights and obligations of lenders in numerous ways. Banking & Financial Services Industry Legal Blog Banking and Lender Liability Law Creditors Rights and Commercial Collections

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Jimerson Firm

DECEMBER 30, 2020

Banking & Financial Services Industry Blog Banking and Lender Liability Law Creditors Rights and Commercial Collections

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Collateral Creditors Rights Foreclosure Commercial Collection 98

Jimerson Firm

JANUARY 27, 2021

5) The borrower’s proposed treatment of the SBA loan must be fair and equitable in comparison to the treatment to be received by the borrower’s other creditors. Banking & Financial Services Industry Legal Blog Banking and Lender Liability Law Creditors Rights and Commercial Collections

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Jimerson Firm

OCTOBER 9, 2020

Failure to give proper notice will be a violation of a party’s due process rights, and will subject the movant or movant’s counsel to sanctions. Although the motion was filed as an “emergency,” failure to notify defendant’s counsel was a violation of the defendant’s due process rights.

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Jimerson Firm

FEBRUARY 3, 2021

Foreclosures in Florida are judicial, meaning the secured creditor must file a lawsuit. On the other hand, the lender may not have any rights to the mobile home, but may still proceed with foreclosure of the real property.

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Jimerson Firm

NOVEMBER 13, 2020

Lenders must give careful consideration on choosing this method because it may (unless otherwise negotiated in the written agreement) lose the right to collect any deficiency, and the property will remain subject to any existing liens.

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Jimerson Firm

SEPTEMBER 22, 2020

Losing the Right to Collect Rents: Junior Foreclosure Sales. It is important to note that senior mortgage holders may lose the right to collect rents during the pendency of a foreclosure action if a junior mortgage holder has previously foreclosed on its junior mortgage.

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Jimerson Firm

NOVEMBER 23, 2020

Self-Help Repossession: In Florida, a secured creditor may use self-help repossession to take possession of collateral, provided its efforts do not breach the peace. In Florida, the secured creditor must notify the debtor and any secondary obligor when selling the personal property collateral.

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Jimerson Firm

AUGUST 24, 2020

Banking & Financial Services Industry Blog Creditors Rights and Commercial Collections

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Jimerson Firm

JANUARY 14, 2021

Banking & Financial Services Industry Blog Banking and Lender Liability Law Business Litigation Creditors Rights and Commercial Collections Real Estate LawThe first half of this series evaluated options available to lenders prior to instituting a commercial foreclosure action.

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Jimerson Firm

SEPTEMBER 28, 2020

Banking & Financial Services Industry Blog Creditors Rights and Commercial CollectionsA residential mortgage foreclosure action is initiated in Florida by filing a verified complaint with the appropriate court.

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Jimerson Firm

AUGUST 7, 2020

The Act codifies existing common law in Florida regarding the right to have a receiver appointed by the court in commercial foreclosure actions, and provides much needed clarity, predictability, and uniformity on the standard for the appointment of a receiver and the powers of receivers.

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Jimerson Firm

JULY 30, 2020

3d DCA 2006) (“In Florida, an acceleration clause in a mortgage confers a contract right upon the note or mortgage holder which he or she may elect to enforce upon default.”). The guarantor’s right to revoke or terminate the guaranty depends on the language in the guaranty.

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Jimerson Firm

OCTOBER 22, 2020

The receiver can stop the bleeding and perhaps even right the ship during the pendency of the foreclosure action—when the lender would otherwise be helpless to do so.

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Jimerson Firm

JANUARY 20, 2021

Banking & Financial Services Industry Legal Blog Creditors Rights and Commercial CollectionsIn response to the mortgage foreclosure crisis, the Supreme Court of Florida established a statewide mandatory mediation program for residential mortgage foreclosures.

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Jimerson Firm

JULY 15, 2020

If a written lease agreement exists, the written lease agreement would govern the rights and obligations of the parties upon a breach of the lease agreement by the tenant.

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Jimerson Firm

NOVEMBER 16, 2020

In the event the borrower defaults, usually by failing to make loan payments, a secured creditor has a right to take possession of the collateral. The quickest and cheapest way for a secured creditor to take possession of the collateral is by self-help repossession.

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Jimerson Firm

MAY 25, 2021

Banking & Financial Services Industry Legal Blog Creditors Rights and Commercial CollectionsIn every foreclosure action, the foreclosing lender will be required to publish some sort of legal advertisement or notice in a newspaper (e.g. the Notice of Foreclosure Sale).

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