As the COVID-19 pandemic rages, Michigan’s real estate industry braces for a potential wave of foreclosures and evictions.
Comments
A recent federal appellate court ruling illustrates the traps lenders could trip when state court collection actions against joint borrowers intersect with federal bankruptcy law.
Bankruptcy court rules trustees can’t claw back, as fraudulent transfers, Plus Loans taken by parents for a child’s education.
Creditors must closely scrutinize Chapter 13 cases to understand what debts are being discharged and to update business records to ensure discharged debts are not pursued post-bankruptcy.
Companies consider legal options after lawsuits were filed against them by the City of Detroit seeking to recoup pre-bankruptcy payments.
Following the U.S. Supreme Court's historic ruling on same sex marriage, federal and state lawmakers must play catch up to revise major statutes, including the U.S. Bankruptcy Code.
https://www.ftc.gov/system/files/documents/statutes/fair-credit-reporting-act/545a_fair-credit-reporting-act-0918.pdfCourt rules that bank, which accepted a borrower's voluntary payments post-bankruptcy and opted not to foreclose its security interest in the mortgage, did not violate the FCRA by reporting the loan as closed on the borrower's credit report.
Include language in standard contracts to maximize the likelihood your company is paid in the event of a customer's financial distress or bankruptcy.
Topics
- Commercial Liability
- Commercial Real Estate
- Real Estate
- Artificial Intelligence
- Contracts
- Business Risk Management
- Attorney-client Privilege
- Commercial Loans
- Tax Law
- Alternative Dispute Resolution (ADR)
- Commercial Leasing
- Personal Tax Controversy
- Business Torts
- Business Tax Controversy
- Defamation
- Civil Litigation
- COVID-19
- Bankruptcy
- Property tax
- Real Estate Mortgages
- Coronavirus
- Banking Law
- Standing
- Mortgage Foreclosure
- Risk Management
- Fraud Activity
- Lending
- Cyber Attack
- Facilitation
- Shareholder Liability
- Appellate Law
- Insurance
- Trade Secrets
- Litigation Discovery
- Corporate Formation
- Cybersecurity
- Cryptocurrency
- Regulatory Law
- Statute of Limitations
- Damages Recovery
- privacy
- e-Discovery
- Noncompete Agreements
- Class Action
- Pensions
- Product Liability
- Biometric Data
- e-Commerce
- Internet Law
- Residential Liability
- Venue
- Zoning and Planning
- Consumer Protection
- Clawback
- Department of Education (DOE)
- Receiverships
- Fair Debt Collection Practices Act
- Fair Credit Reporting Act
- Garnishments
- Unfair Competition
- Uniform Commercial Code (UCC)
Recent Updates
- Michigan Appellate Court Draws Line in AI Hallucination Case Barber v. Morawa
- When a Forged Deed Doesn't End the Story: What Toure v. Davis Means for Good-Faith Property Improvers in Michigan
- AI and the Unintended Consequences of Immediate Analysis
- Afroman Case Teaches Business Owners Lessons on Defamation, Free Expression
- Is Arbitration the Right Call for Your Business Contract Needs?
- The Million Dollar Question: Who Pays the Attorney’s Fees?
- When is Performance Excused due to Contractual Impossibility?
- Why Delinquent Taxpayers Should Circle the IRS Collection Statute Expiration Date on Their Calendars
- How the Reversal of Chevron will Impact the IRS
- IRS Passport Denial and Revocation Program - What you Need to Know and how to Reclaim Your Passport