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By Barbara M. Goodstein and John M. Conlon | December 6, 2023
Judgment creditors frequently encounter difficulties enforcing their judgments against debtors, particularly those in distressed circumstances. A recent decision by the Court of Appeals of Ohio in 'Wulco v. The O'Gara Group & Monroe Capital Partners Fund' involved a battle between a judgment creditor and a UCC secured creditor, each seeking to obtain funds in a debtor's bank account. The court examined not only the relative rights of the creditors as to those funds, but also whether a court clerk to whom the funds were transferred (as part of garnishment proceedings) could be a "transferee" under Section 9-332 of the Uniform Commercial Code, thereby stripping away any prior security interest.
12 minute read
By Marianna Wharry | November 29, 2023
This complaint was first surfaced by Law.com Radar.
2 minute read
By Jason C. Bergman | November 17, 2023
Jason Bergman advises parties on how the failure to specifically identify an encumbrance that is senior to the foreclosed mortgage can be fatal to the foreclosure sale.
5 minute read
By Jeffrey B. Steiner and Scott A. Weinberg | November 14, 2023
While the potential advantages of converting office buildings into residential spaces are widely acknowledged, such conversions can be financially burdensome and present structural difficulties, often requiring a complete overhaul of existing floor plans and resulting in awkward layouts. As a result, another trend gaining traction in cities nationwide is repurposing office buildings for agricultural use and creating farms in urban centers.
6 minute read
By Colleen Murphy | November 9, 2023
"Attorneys have an independent duty to continually reevaluate their claims to avoid prolonging a meritless case," stated Judge Timothy M. Tymkovich in his dissent. "The failure to do so is sanctionable. Here, plaintiffs' counsel failed to avoid prolonging a meritless case."
5 minute read
By Myron C. Weinstein | November 9, 2023
The new Updated Uniform Mortgage—the most widely used form of mortgage in New Jersey today—is a gamechanger. Except for violation of the due-on-transfer clause, Section 20 gives a borrower an unlimited right to reinstate a defaulted, accelerated mortgage loan until five days before any foreclosure sale.
8 minute read
By William Jay, Charles Brown, Daniel Roeser, Justin D. Ward and William Evans | November 8, 2023
In a follow-up to their article published in June, the authors discuss two questions raised but not fully answered in Slack: probabilistic pleading under Section 11 of the 1933 Act and the proper construction of Section 12 of the 1933 Act.
7 minute read
By Jane Wester | November 7, 2023
U.S. District Judge Gregory Woods noted that both parties expended "much effort" discussing Citibank's internal controls but indicated he would have preferred a different focus.
3 minute read
By ALM Staff | November 2, 2023
This suit was surfaced by Law.com Radar. Read the complaint here.
1 minute read
By ALM Staff | November 2, 2023
This suit was surfaced by Law.com Radar. Read the complaint here.
1 minute read
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