Law Offices of Gary Martin Hays & Associates
P.C.
75 Ponce De Leon Ave NE Ste 101
Atlanta,
GA 30308(470) 294-1674
www.garymartinhays.com
By Andrew C. Kassner and Joseph N. Argentina Jr. | July 14, 2017
Over the years, the real estate industry relied heavily on securitization vehicles to finance commercial real estate projects. The loans are packaged and then sold in pools to investors. Various mechanisms have been developed to facilitate collection of the loans without the uncertainty of a borrower bankruptcy filing that could delay and increase the costs of collection. Lenders in these secured transactions often use special purpose entities, or SPEs, to attempt to limit the risk of a borrower bankruptcy filing. While these structures can vary, the concept is to create a separate corporate entity whose only purpose and asset is the one real estate project, and the only significant obligation is the mortgage loan. The SPE is isolated from the financial affairs of the corporate parent or affiliates. The lender requires the borrower to appoint an independent director to the board from a mutually acceptable source, and unanimous board approval for certain key decisions, such as the decision to file for bankruptcy. Consequently, a lender is able to reduce the risk of delay after default and high costs of collection, and the borrower benefits from lower interest rates and fees from the lower cost loan.
By thelegalintelligencer | The Legal Intelligencer | July 14, 2017
Bankruptcy court had the authority to issue a filing injunction against a debtor who requested voluntary dismissal under §1307(b) because nothing in the bankruptcy code said otherwise but the injunction the court issued was an abuse of discretion since it failed to explain its reasoning for an injunction that was far broader than the one sought by credit union bringing the action. Order vacated.
By Marcia Coyle | July 14, 2017
Federal prosecutors have taken it on the chin in recent U.S. Supreme Court decisions that pushed back against the government's expansive reading of federal criminal laws. The latest setback came Thursday, when a federal appeals court voided the corruption conviction of a once-powerful New York state Assembly speaker. Here's a snapshot of the McDonnell decision and other rulings, four of which were issued by the Roberts Court, that restricted prosecution offices.
By Scott Flaherty | July 13, 2017
Following a string of successful mortgage-backed securities cases against most of the banking industry, Philippe Selendy of Quinn Emanuel Urquhart and Sullivan notched another achievement this week.
By Cheryl Miller | July 13, 2017
Voters overwhelmingly said yes to to recreational use. But not every city and county rushed to embrace the green wave. Here are five of the top reasons lawyers and local government officials gave for their hesitation.
By Monika Gonzalez Mesa | July 13, 2017
Mexico Transportes, the largest railroad company in Mexico, has completed its purchase of Florida East Coast Holdings Corp., the owner of the Florida East Coast Railway, paying more than $2 billion.
By C. Ryan Barber | July 13, 2017
Jerome Paul Compton, the Trump administration's pick for general counsel at the U.S. Department of Housing and Urban Development, pulled in nearly $1.2 million between January 2016 and late March of this year from his work in the Birmingham offices of Bradley Arant Boult Cummings, according to a financial disclosure form. Compton's confirmation hearing is set for July 18.
By David McLaughlin, Tom Schoenberg, and Greg Farrell | July 13, 2017
Even as Royal Bank of Scotland Group Plc said Wednesday it would pay $5.5 billion to settle a U.S. lawsuit over its crisis-era mortgage-bond business, it told investors that another big bill may be on the way.
By Kathleen A. Scott | July 11, 2017
International Banking columnist Kathleen A. Scott writes that there is something for banks large and small in Treasury Secretary Steven Mnuchin's report on the extent to which current U.S. financial regulatory requirements promote and support seven "core principles" set out in Executive Order 13772.
By Carla Vianna | July 11, 2017
The lawyers help the Terra Group land a construction loan for its new office development in Miami's Coconut Grove.
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