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New York Law Journal

Loan Modifications and Lender Liability In the Era of Covid-19

In their Real Estate Financing column, Jeffrey Steiner and Scott Weinberg write: In the current economic climate, created in large part by the Covid-19 virus, many borrowers are facing challenges and approaching their lenders with loan modification requests. In handling the large number of such requests, it is important for lenders and servicers to remember to exercise caution in their communications with these borrowers to avoid potential liability for negligence.
7 minute read

Daily Business Review

Luxury Dorm Financed With Muni Bonds Falls Into Bankruptcy

Midtown Campus Properties sold $78 million in unrated taxable municipal bonds in 2019 for a 310-unit, mixed-use facility in Gainesville, which promised an "elite" experience for University of Florida students.
3 minute read

New York Law Journal

Making Sense of New York's Usury Defense

This article attempts to make sense of New York's usury laws and shed light on the ambiguities and tensions that may leave some litigants and judges scratching their heads.
8 minute read

Texas Lawyer

Will Texas Courts Be Ready for the Influx of Debt-Collection Lawsuits on the Horizon? Here's a Look at the Numbers

Debt case numbers more than doubled from 1.7 million in 1993 to 4 million in 2013, according to a research report by The Pew Charitable Trusts. The COVID-19 economic disruptions may fuel further growth in the case category.
4 minute read

New Jersey Law Journal

Mortgage Payoff Statements Should Not Be Privileged Communications Pending Foreclosure

It is submitted that applying New Jersey's common law "litigation privilege" in the context of mortgage payoff and reinstatement statements furnished during the foreclosure process, makes no sense.
10 minute read

New Jersey Law Journal

Modell's Granted Second Suspension of Bankruptcy Amid COVID-19

The sporting goods retailer was granted its first suspension on March 27, allowing it to defer April 1 rent due to landlords owning the spaces Modell's stores occupy.
6 minute read

New York Law Journal

Advice for Financially-Distressed Businesses and Their Creditors

Distressed businesses that take proactive steps to preserve cash, cut costs, and increase liquidity will be better positioned to endure an uncertain economic environment. Similarly, creditors that act to limit their exposure to preference litigation can decrease their risk of surrendering the payments they received.
7 minute read

Daily Business Review

State Bond Chief Gives Assurances, Points to Unknowns

"Although the financial impact to the state for the cost of responding to COVID-19 is anticipated to be significant, it is expected to be manageable," says Florida Division of Bond Finance Director Ben Watkins.
7 minute read

New York Law Journal

Mid-Sized Businesses May Be Eligible To Participate in the Main Street New Loan Facility and the Main Street Expanded Loan Facility

The Treasury Department and Federal Reserve Board of Governors are leveraging the existing powers of the Federal Reserve under §13(3) of the Federal Reserve Act to provide credit to private enterprises under the "exigent" circumstances created by the COVID-19 pandemic.
6 minute read

New York Law Journal

Empire Generating: Majority Lender Is Poised To Control Outcome Using Credit Bid

In her Distress Mergers and Acquisitions column, Corinne Ball discusses a decision that confirms the importance of intercreditor agreements as determinative of rights as among the creditors subject to the contract. This decision gives weight to the view that the bankruptcy court is not an appropriate forum for what is strictly an intercreditor dispute.
11 minute read

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