Attorneys / Advisors

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Financial Services

Publications

3/25/2014
Golf course lenders, bankruptcy and appellate courts around the country have consistently held that a properly-perfected mortgage or security interest in golf course revenues, including cart rentals and green fees, is not sufficient to grant the lender an interest in the golf course’s “cash collateral” if the business ends up in bankruptcy.
2/20/2014
Heralded by debtor’s attorneys as “a wonderful loophole” in the Bankruptcy Code, a debtor who has primarily business, rather than consumer, debts can qualify for a speedy Chapter 7 discharge despite a high earning capacity that would permit the debtor to repay some, or even all, of her debt.
1/23/2014
On December 19, 2013, the Federal Reserve, OCC, and FDIC issued a Proposed Addendum to the Interagency Policy Statement on Income Tax Allocation in a Holding Company Structure. The agencies are currently soliciting comments, but we expect the Addendum to be adopted substantially as proposed.
1/13/2014
The Higher-Priced Mortgage Loans (HPML) Appraisal Rule, part of Regulation Z, goes into effect on January 18th of this year. At that time, many lenders will begin using the exemption relating to “certain streamlined refinancings” in order to avoid the implications of the HPML Appraisal Rule. See 12 CFR § 1026.35(c)(2)(vii).
6/19/2013
The Florida Supreme Court held that municipalities lack the authority to enact local ordinances which establish superpriority status for their code enforcement liens. In the last decade, numerous Florida municipalities enacted local ordinances which held their code enforcement liens had the same priority as ad valorem taxes, a status referred to as “superpriority.”