By Brian Lee | February 28, 2024
The settlement requires Tromberg, Morris & Poulin to pay $595,600 in restitution to more than 4,000 New Yorkers, and $60,000 in penalties to New York State.
3 minute read
By Corinne Ball | February 21, 2024
This article addresses how a Creditor's Committee may sue members of an LLC, despite Delaware law limitations, and how prebankruptcy exercise of proxy rights in reliance on Delaware law are upheld in a subsequent bankruptcy case.
12 minute read
By Dan Roe | February 6, 2024
The crypto lender emerged from Chapter 11 at the end of January, with former customers receiving bitcoin, stock in a bitcoin mining operation and the rights to legal claims against founder Alex Mashinsky.
5 minute read
By Jennifer Pastarnack, Johanna Colpritt and Ida Vanto | January 29, 2024
A recent development with credit agreements is that they contain new provisions that expressly preclude "distressed investors" from holding the loans. This article aims to alert readers of the contractual language changes in these agreements and the implications of those changes.
6 minute read
By Scott A. Weinberg and Joel C. Haims | January 17, 2024
Scott Weinberg and Joel Haims discuss New York's "Election of Remedies" statute, examining whether it really has a material impact in practice.
6 minute read
By Riley Brennan | January 16, 2024
"Given the language Congress used in the FCRA, state requirements and prohibitions should only be preempted when the matter is capable of classification as identity theft, and then only 'with respect to the conduct required' by the FCRA's identity theft reporting regulations," U.S. District Judge Lance E. Walker for the District of Maine wrote. "In other words, this is a case of partial preemption. When the federal identity theft regulations apply to an act of economic abuse, then the blocking of identity-theft-related reporting activity must proceed according to federal law. But insofar as a given debt is the product of more than mere identity theft, compliance with both federal and state law may be appropriate, depending on the circumstances."
6 minute read
By Howard W. Kingsley | January 16, 2024
Howard Kingsley, who represented Broom Lender in "Broome Lender LLC v. Empire Broome LLC," discusses the case and how the Appellate Division, First Department removed common obstacles and cleared the path for assignees of mortgage loans to foreclose easily and quickly. Kingsley offers that the case is a "major win for lenders and their assignees because there had not been a prior decision by a New York state court where it found that, although standing was not established through an allonge, standing was established on summary judgment by the assignment of the note."
8 minute read
By Zack Needles | January 9, 2024
The news and analysis you need to start your day.
4 minute read
By Charles Toutant | January 8, 2024
Richard Perr, chair of the Consumer Financial Services Practice Group at Kaufman Dolowich in Philadelphia, expects to see such suits become more common as the collection industry abandons phone calls and postal mail in favor of less costly methods of contacting debtors.
5 minute read
By Jim Francis | January 5, 2024
What happens when a consumer brings a claim under the FCRA against a furnisher that is a federal government agency, claiming the agency violated the statute? Is that agency protected from liability by the federal government's sovereign immunity?
7 minute read
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Professional Announcement
Frederick D. Miceli has joined the firm as Of Counsel
Professional Announcement
