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Attention all lawyers! The unfinished business rule may finally be finished
2015-06-26

The courts continue to pick away at the “unfinished business rule.” The latest blow came earlier this month when a U.S. district court dismissed a Chapter 7 trustee’s claims against eight law firms who provided services to former clients of Howrey LLP. We are getting close to the point where the unfinished business rule may in fact be finished.

Filed under:
USA, District of Columbia, Insolvency & Restructuring, Legal Practice, Litigation, Squire Patton Boggs, Unjust enrichment
Authors:
Mark A. Salzberg
Location:
USA
Firm:
Squire Patton Boggs
View Original Article
Three’s a crowd: payoffs, numerosity, and involuntary petitions
2015-03-10

Debtors seeking dismissal of an involuntary bankruptcy proceeding may want to consider a recent decision of the Bankruptcy Court for the District of Columbia.  In denying an individual debtor’s motion to dismiss an involuntary petition, the court in In re Barkats held that a debtor may not pay off petitioning creditors to the detriment of other creditors as a way of avoiding an involuntary petition.  

Filed under:
USA, District of Columbia, Insolvency & Restructuring, Litigation, Weil Gotshal & Manges LLP, Bankruptcy, United States bankruptcy court
Location:
USA
Firm:
Weil Gotshal & Manges LLP
View Original Article
DC App. Court Holds HOA May Not Foreclose Subject to First Deed of Trust
2018-05-04

The District of Columbia Court of Appeals recently held that a condominium association acting on its six-month super-priority lien for unpaid condominium assessments pursuant to § 42-1903.13(a)(2) of the District of Columbia Condominium Act (the “D.C. Condo Act”) may not conduct its foreclosure sale subject to a first deed of trust lien, even if the terms of sale stated that the condo unit would be sold subject to first deed of trust.

Filed under:
USA, District of Columbia, Banking, Insolvency & Restructuring, Litigation, Real Estate, Maurice Wutscher LLP, Mortgage loan, Foreclosure, Condominium, Deed of trust (real estate)
Location:
USA
Firm:
Maurice Wutscher LLP
View Original Article
Maryland Federal Court Allows Bank to Recover Allegedly Unauthorized Advances on Frozen HELOC
2016-06-23

Reversing a bankruptcy court order in favor of the debtor, the U.S. District Court for the District of Maryland recently held that a bank that had allowed amounts to be withdrawn from a home equity credit line after the HELOC had been frozen could still recover those amounts from the debtor.

A copy of the opinion is available at:  Link to Opinion.

Filed under:
USA, District of Columbia, Family, Insolvency & Restructuring, Litigation, Maurice Wutscher LLP, Bankruptcy, Debtor, Breach of contract, Line of credit, United States bankruptcy court
Location:
USA
Firm:
Maurice Wutscher LLP
View Original Article
Funds Talk: August 2017
2017-08-01

Topics covered in this issue include:

Filed under:
USA, District of Columbia, Capital Markets, Corporate Finance/M&A, Derivatives, Insolvency & Restructuring, Litigation, Kramer Levin Naftalis & Frankel LLP, US Securities and Exchange Commission, Commodity Futures Trading Commission (USA)
Location:
USA
Firm:
Kramer Levin Naftalis & Frankel LLP
View Original Article
LLP: when is a partnership not a partnership (and who cares)?
2014-10-14

In re Beltway Law Group, LLP, 514 B.R. 341 (Bankr. D. D.C. 2014) –

A managing partner filed an involuntary chapter 7 petition against a professional limited liability partnership. The bankruptcy court denied the petition and dismissed the case based on its interpretation that the entity was a corporation and not a partnership for purposes of the Bankruptcy Code.

Filed under:
USA, District of Columbia, Company & Commercial, Insolvency & Restructuring, Litigation, Troutman Pepper, Limited liability partnership
Location:
USA
Firm:
Troutman Pepper
View Original Article
Improperly indexed mortgage: how far does your record review need to go to be safe?
2014-09-05

Albert v. Green Tree Servicing, LLC (In re El Erian), 512 B.R. 391 (Bankr. D. D.C. 2014) –

A chapter 7 trustee sought to avoid the lien of a recorded deed of trust because (1) it contained both correct and incorrect parcel numbers and (2) it was improperly indexed. The issue turned on whether a bona fide purchaser would have had inquiry or constructive notice of the deed of trust.

Filed under:
USA, District of Columbia, Insolvency & Restructuring, Litigation, Private Client & Offshore Services, Real Estate, Troutman Pepper, Constructive notice
Location:
USA
Firm:
Troutman Pepper
View Original Article
Back to school basics: attorneys should confirm their address information is correct and monitor their case docket
2015-08-17

For many parents with school-age kids, the month of August marks the end of summer vacation and the start of the new school year, and in this spirit, a post on practice fundamentals seems appropriate.  Specifically, attorneys are responsible for (i) maintaining an accurate address of record to ensure proper service and (ii) monitoring their case docket to avoid missing a deadline.  While this may seem elementary, the recent decision from Judge Teel of the United States Bankruptcy Court for the District of Columbia nonetheless reinforces a point that is particularly applicable to a bankruptc

Filed under:
USA, District of Columbia, Insolvency & Restructuring, Litigation, Weil Gotshal & Manges LLP
Location:
USA
Firm:
Weil Gotshal & Manges LLP
View Original Article

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