Assignees

News & Analysis as of

Court Of Chancery Permits Equitable Dissolution

In this precedent-setting decision, the Court upholds the right of an assignee of an LLC interest to petition for its dissolution....more

Discovery Of Reserve And Reinsurance Information Permitted In Coverage And Bad Faith Action Against Insurers

A federal district court in Colorado has denied motions for a protective order filed by the insurers in a coverage litigation where Cantex, a third-party assignee to claims against the insurers, asserts causes of action for...more

The Supreme Court of the State of New York Limits the Rights Assignees and Indenture Trustees Have to Commence Actions to Recover...

In Cortlandt St. Recovery Corp. v Hellas Telecom., S.A.R.L., 2014 NY Slip Op 24268 (Sup. Ct., N.Y. County 2014), the Supreme Court of the State of New York ruled on two important issues related to the right to sue for...more

The Equal Credit Opportunity Act’s Safe Harbor for Assignees

In a previous post, we considered whether guarantors are considered to be “applicants” under the Equal Credit Opportunity Act (the “ECOA”), and today, we will consider whether assignees who acquire debt would be subject to...more

Oklahoma Court Excludes Evidence of Loss Reserves

Asap v. Starnet Ins. Co., No. CIV-12-461-D, 2014 U.S. Dist. LEXIS 128609 (W.D. Okla. Sept. 15, 2014) is a decision involving multiple motions in limine in connection with a trial of a breach of contract claim brought against...more

The Meridian Sunrise Village Opinion Redux

In my last post I discussed the Meridian Sunrise Village v. NB Distressed Debt Investment Fund Ltd. opinion handed down by the United States District Court for the Western District of Washington in March of this year. The...more

The Business Records Exception to the Hearsay Rule

When a bank assigns a mortgage to another bank, the assignor typically provides a loan payment history to the assignee as part of the transfer. If the assignee later brings suit to foreclose the mortgage, it is typical to...more

Are Distressed Loan Fund Investors “Financial Institutions” And Why Does It Matter?

Once again, those of us in the commercial finance world are reminded of the age-old adage caveat emptor. This time the warning is directed at hedge funds and other investors with a penchant for purchasing distressed debt from...more

District Court Denies Distressed Funds the Right to Vote on Bankruptcy Plan

The US District Court for the Western District of Washington (the "District Court") recently affirmed a bankruptcy court decision that prohibited a transferee of a secured lender's interest in a loan from voting on a debtor's...more

Mortgage Assignee Not a 'Creditor' for Purposes of TILA Obligations Existing over the Life of a Loan… at Least for Now

Under the Truth in Lending Act (TILA), the assignee of a mortgage note is not considered a "creditor" and is therefore not bound by TILA requirements imposed solely on creditors. One federal appellate court, however, has...more

Assignees Not Liable for Lender Violations of Maryland Secondary Mortgage Loan Law, Appeals Court Holds

In a decision that narrows the scope of potential liability for assignees of second mortgage loans secured by Maryland properties, the state’s intermediate appellate court recently rejected an attempt by borrowers to hold an...more

Rogers Towers: Use of FDIC Special Powers: Knowledge by the FDIC or its Assignees is Irrelevant

In previous posts, we introduced the protections afforded the FDIC by the D’Oench Doctrine and 12 U.S.C. § 1823(e), which bar claims and defenses against the FDIC and its assignees by private parties based on improperly...more

Rogers Towers: Use of FDIC Special Powers by Assignees of the FDIC

Courts have extended the protections afforded the FDIC by the D’Oench Doctrine and 12 U.S.C. § 1823(e) to successors or assignees of the FDIC as receiver of the failed banks....more

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