As reported on Law.com , the New York state court system has directed
lawyers moving for foreclosures to file an affirmation that they have verified
the accuracy of the papers they are filing in support of the foreclosure. While
lawyers regularly operate...
Don't look now public company directors, but the next
financial crisis may be upon us and it looks a lot like the 2008 crisis that
was borne out of the housing bubble. Apparently, the underlying cause of the
collapse of the mortgage-backed securities...
As banks lift their foreclosure freezes, many people may
assume that the banks have solved their problems in documenting foreclosures. I
suggest this is not the case.
To understand this, keep in mind one of the problems. This is that an
Sagging under the weight of 43 million dollars in debt,
the Crystal Cathedral has filed for chapter 11 bankruptcy
(reorganization). The filing marks the economic downturn's invasion into
the mega church arena. Over the years, small churches have...
Why is the foreclosure machinery of our nation's largest
banks suddenly grinding to a halt?
The "Produce the Note" movement, encouraging consumers to
challenge the lender in foreclosure and make them produce the note. It's not
By Russell D. Garrett
Chapter 7 Panel Trustee
Western District of Washington
If someone had told me 29 years ago that I would be
practicing law in the bankruptcy area I would have said they were crazy. At
that time, I was living...
The Second Circuit has held
that an allegedly inflated proof of claim cannot form the basis for a claim
under the Fair Debt Collection Practices Act. Simmons v. Roundup Funding ,
No. 09-4984 (2 nd Cir. 10/5/10). The opinion can be found here .
I am attending the National Conference of Bankruptcy
Judges meeting in New Orleans this week. Here are some highlights.
Lawrence P. King Award
The Commercial Law League of America presented the Lawrence P. King Award to
Judge Burton Lifland from...
By now, it is abundantly clear that lenders were at best
careless when acquiring and transferring mortgages. Throughout the industry,
they had a carefree attitude when it came to safekeeping of mortgages note and
other mortgage documents. It appears...
The question is: is this good politics or good legal
practice... or both I suppose. "The attorneys general of all 50 U.S. states
announced Wednesday that they are joining to probe mortgage loan servicers who
are accused of submitting false affidavits...
On this edition, Robert Keach of Bernstein, Shur, Sawyer & Nelson in Portland, Maine discusses the chapter he contributed in Collier Guide to Chapter 11 Practice, published by LexisNexis Matthew Bender. Mr. Keach discusses the advantages and disadvantages...
A couple who filed bankruptcy in 2004 have been charged with
hiding assets and money laundering and income tax avoidance. But that may
only be part of their trouble. Federal agents have seized over 5 million
dollars in cash from their home in Colleyville...
Mortgage rates are at their lowest level in decades . Yet, millions of homeowners cannot
refinance. Why is not more done to help homeowners refinance?
Refinancing could save homeowners hundreds or thousands
of dollars a month, yet they cannot qualify...
Adam Rogoff is one of the authors of The Collier Guide to Chapter 11: Key Topics and Selected Industries, the latest addition to the Collier line of bankruptcy products from LexisNexis. Written by over 20 bankruptcy lawyers from leading firms , the Guide...
I just received this memorandum from Judge Pat E.
Morgenstern-Clarren of the Northern District of Ohio and thought it was worth
M E M O R A N D U M
TO: All attorneys with bankruptcy cases on my docket
FROM: Judge Pat E. Morgenstern...
Prof. Ken Klee, author of the LexisNexis Matthew Bender Bankruptcy and the Supreme Court book
and several LexisNexis Emerging Issues Analyses on the Supreme Court rulings in
2010, was recently profiled by the Los Angeles Business Journal by reporter...
I was driving into work today and heard a radio
advertisement that upset me and reinforced in my mind the reason I wrote my
book. That ad from a debt relief company claimed that the new credit card
legislation required lenders to reduce your credit...
According to Hertz v. Friend,
the nerve center test is the only appropriate test for determining the location
of a principal place of business. The Court stated that a corporation's
principal place of business is the place where its officers direct...
The Collier Guide to Chapter 11: Key Topics and Selected Industries is the latest addition to the Collier line of bankruptcy products from LexisNexis. Written by over 20 bankruptcy lawyers from leading firms, the Guide takes an in-depth look at the key...
by Sutherland's Regulatory Reform Task Force
After months of negotiations and conferences among key
legislators, President Obama signed into law a final version of regulatory
reform legislation on July 21, 2010. More than 2,000 pages long, the
Acquisition of companies in bankruptcy has become prevalent and perhaps the model in Chapter 11 cases. But potential purchasers need to be aware of several pitfalls. I will address some of them here, and discuss others during our upcoming Webinar - Chapter...
LexisNexis is presenting a free webinar "Chapter 11 Reorganization: Hot Topics and Industry Perspectives," on Tuesday, October 19 , beginning at 2 pm ET. CLE credit is available where LexisNexis is approved for webinar training CLE.
Between 1946 and 1964, more than 76 million American children were born. The first of these "Baby Boomers" begin to reach the historic retirement age of 65 in 2011. By 2030 all boomers will be over 65 and will represent an estimated 20 percent...
Pres. Obama Taps Liz Warren to Launch
Consumer Financial Protection Bureau
Last Friday, President Obama tapped Harvard Prof.
Elizabeth Warren to be a Special Assistant to the President to help launch the
Consumer Financial Protection Bureau. If...
Many of us with kids of a certain age know the
Friday night ritual: take the kids to Blockbuster to rent a movie.
That era may be going away as companies find that they no longer need expensive
bricks and mortar stores to rent movies. Next up for...