Radius Credit Union Limited v. Royal Bank of Canada [2009] S.J. No. 148, 2009 SKCA 36, on appeal from
2007 SKQB 472

1992: Farmer Wayne Hingtgen (“Debtor”) granted a general security agreement to Radius
Credit Union Limited (“CU”) granting a security interest on all his present and after
acquired assets.

Innovation Credit Union v. Bank of Montreal [2009] S.J. No. 147; 2009 SKCA 35, on appeal from 2007 SKQB 471

October 1991:     Saskatchewan farmer James Buist (“Debtor”) granted a general security agreement to Innovation Credit Union (“CU”). The general security agreement was not perfected under the Saskatchewan Personal Property Security Act (“PPSA”) by registration.

TheCentral Bank and Credit Institutions (Resolution) Bill 2011 seeks to establish a more permanent and a wider framework for dealing with insolvent banks and banks in financial difficulty. It is intended that the legislation would replace and extend the provisions contained in the Credit Institutions (Stabilisation) Act 2010.

The new Bill was published to meet the end of February deadline set under the terms of the EU-IMF Financial Support Agreement.

On October 26, the Eastern District of Wisconsin issued a ruling dismissing a Fair Credit Reporting Act case. In Garland v. Marine Credit Union, the Court granted summary judgment in favor of the debt collector, holding the dispute was a legal issue such that the consumer could not establish a factual inaccuracy in the credit reporting.

Bankruptcy is not a sure-fire remedy for credit union members in severe financial distress. While it can provide an avenue for escaping your promises to repay, it can also have some unintended, disagreeable consequences. I have represented credit unions across four states in US Bankruptcy Courts over the last 40 years. During those decades, I found that too many lawyers who file bankruptcies for credit union members are often not discussing all the consequences with their clients.

The bankruptcy code prohibits an employer from discriminating against or terminating an employee for filing or having filed for bankruptcy protection. A federal court in Wisconsin has extended this retaliation protection to an employee who intended to file for bankruptcy (and later did so). In Robinette v.