| “The Best of Disinfectants”: Sunshine and Other Developments Relevant to Agreed Protective Orders in Today’s Economy |
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July 2, 2009 Link
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In many practical respects, the Agreed Protective Order that governs whether and to what extent information exchanged during discovery is kept confidential is the most important Order entered by a Judge presiding over a complex piece of litigation. Submitted by Peter M. Cummins.
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| Who Owns That Real Property? |
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July 2, 2009 Link
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We often care about who owns property. Lienors and judgment creditors search for assets owned by particular individuals. Lenders transfer cash in reliance on the belief that they know who owns particular assets. Submitted by Vincent E. Mauer.
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| What Is Your Preference? |
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June 23, 2009 Link
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In this time of economic hardship, there are many entities that file for bankruptcy protection. If you have been a creditor of a debtor in a bankruptcy court, then you have probably run into the preference rules. Submitted by Kimberly K. Mauer.
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| Sixth Circuit Affirms Cramdown of Secured Interest in Mobile Home |
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June 23, 2009 Link
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In Reinhardt v. Vanderbilt Mortgage & Finance Inc.1, the Sixth Circuit Court of Appeals held in a matter of first impression, that: (1) cramdown2 of secured interest in unattached mobile home was authorized, despite the mortgagee’s secured interest in real property beneath home; and (2) state law was not preempted by the United States Bankruptcy Code’s anti-modification provision. Submitted by Eliot G. Bastian.
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| New Indiana Law Requires "Motor Vehicles Repossession Agent" to Furnish Sheriff With Certain Information in Connection With Repossession of a Motor Vehicle or Watercraft |
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June 23, 2009 Link
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Secured lenders should take note that, effective July 1, 2009, a new Indiana law (Senate Bill 174, enacted as IC 26-2-10) requires a "motor vehicle repossession agent" who intends to repossess, or has repossessed, a "motor vehicle" or watercraft to provide certain information to the Sheriff of the Indiana county in which the motor vehicle or watercraft is believed to be located (if not yet repossessed) or was located (if repossession has already occurred). Submitted by James M. Matthews.
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| Indiana Court of Appeals Denies Recovery of Excessive Interest to Payday Lender |
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June 23, 2009 Link
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Relying on Indiana statutes, common law, and public policy, an Indiana court of appeals recently held a finance charge additionally stated as an annual percentage rate (APR) could only be charged as such when it was explicitly included in the lender agreement. Submitted by Gerald L. Baldwin and Gregory Q. Roberson.
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| FAQ: FDIC new sweep disclosure Final Rule |
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June 23, 2009 Link
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Frequently asked questions regarding the FDIC's new final rules regarding Sweep Account disclosures for financial institutions. Submitted by William T. Repasky and Jane Hils Shea.
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| Supreme Court Considers States’ Role in Regulating National Banks |
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June 11, 2009 Link
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In the near future, the Supreme Court is expected to issue a ruling in Cuomo v. Clearing House Association, a case that addresses whether state officials are permitted to enforce state laws against national banks. The legal dispute initiated in 2005 when New York Attorney General Eliot Spitzer began investigating the residential real estate lending practices of certain national banks. Submitted by Matthew Horwitz.
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| Seventh Circuit Finds Bank Owes No Fiduciary Duty to Commercial Customers Under Indiana Law |
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June 8, 2009 Link
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Interactive Intelligence, Inc., is a software company, providing voice-over-internet services to a variety of domestic and international customers. Interactive both received foreign funds and had bills to pay in foreign currencies, and chose KeyBank as its provider of foreign-currency exchange services on a transaction-by-transaction basis beginning in the mid-1990s. Submitted by Thomas Satrom.
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