The U.S. Court of Appeals for the Seventh Circuit recently held that a mortgagee’s failure to take a deficiency judgment against a borrower who filed bankruptcy in a concluded state foreclosure action precluded the mortgagee from making a deficiency claim in the borrower’s bankruptcy proceeding.

A copy of the opinion in BMO Harris Bank N.A. v. Anderson is available at: Link to Opinion.

The U.S. Court of Appeals for the Eighth Circuit recently affirmed a trial court judgment holding a bank and its principal in contempt and sanctioning them for violating a bankruptcy discharge injunction, based on the findings in a parallel state court proceeding.

In so ruling, the Eighth Circuit held that the state court judgment did not preclude the bankruptcy court’s ability to enforce its own orders.

The Circuit Court of the First Judicial Circuit in and for Santa Rosa County, Florida recently rejected a company’s argument that a purchase and sale agreement for the company’s future receivables constituted a “loan” that was unenforceable under New York usury law, because payment to the purchaser of the future receivables was not absolutely guaranteed, but instead contingent, and thus, not a loan subject to the law of usury.

The sale of gift vouchers and their terms and conditions is largely unregulated in Ireland.

Although there is no specific legislation, gift vouchers provided to consumers are subject to the provisions of general consumer protection legislation, such as the Consumer Protection Act 2007.

Gift vouchers that cover a wide range of traders and retailers such as the “All4One” vouchers come within the definition of “electronic money” in the European Communities (Electronic Money) Regulations 2011 are subject to the provisions of those Regulations.

In a case of first impression, the U.S. Court of Appeals for the Ninth Circuit recently held that a debtor who successfully challenges — as opposed to a debtor who defends — an award of attorney’s fees and costs for violations of the automatic stay under § 362(k) of the Bankruptcy Code is entitled to an award of appellate fees and costs.

The U.S. Court of Appeals for the Eleventh Circuit recently affirmed the dismissal of a consumer’s complaint alleging that a collection letter violated the federal Fair Debt Collection Practices Act, 15 U.S.C. 1692, et seq., by failing to meaningfully convey the name of his creditor, as required.

The Supreme Court of Ohio recently held that a mortgagee may enforce a mortgage against a mortgagor who signed, initialed, and acknowledged the mortgage even though the body of the mortgage agreement does not identify the mortgagor by name.

In so ruling, the Supreme Court of Ohio allowed a mortgagee to use parole evidence to determine the mortgage signatory’s intent where there is an ambiguity.

The U.S. Court of Appeals for the Eleventh Circuit recently held that a mortgage loan with a post-plan maturity date was not discharged in a Chapter 13 bankruptcy because the plan did not “provide for” the debt and modify the repayment terms of the mortgage.

The Eleventh Circuit also held that the debt was not discharged because discharge would violate 11 U.S.C. § 1322(b)(2)’s anti-modification provision for mortgages secured by the debtor’s principal residence.

• A bankruptcy court in Ohio recently applied the incorrect statute of limitations in a mortgage foreclosure action.
• Ohio’s statute of limitations jurisprudence has evolved from an accepted legal proposition derived from one opinion to supposedly well-settled law stating the complete opposite in another opinion.
• Federal courts interpreting Ohio law must apply the correct statute of limitations to mortgage foreclosure actions.

In the bankruptcy case of In re Fisher, 584 B.R. 185, 199–200 (N.D. Ohio Bankr.

Coast Stores, the occasional wear retailer and high street stallworth has gone into administration in the UK.

Coast’s sister brand Karen Millen had partially rescued the company, buying its department store concessions arm, website, safe guarding up to 600 jobs. However, as part of a pre pack administration deal, it will not be maintaining Coasts overseas stores or its UK high-street stores.