News & Analysis as of

Liens

J. Crew Group, Inc.: Use of Credit Facility Baskets Eviscerates Value of Term Loan Collateral

by Locke Lord LLP on

On September 7, 2017, an ad hoc, minority group of J. Crew’s senior term lenders (the “Dissenting Lenders”) filed an amended complaint against J. Crew and its affiliates (collectively, “J. Crew”) in the Supreme Court of the...more

Insurer Violated Lien Statute and Committed Deceptive Trade Practice When Settling With Pro Se Claimant

by Nexsen Pruet, PLLC on

The North Carolina Court of Appeals recently held that when an insurer settles with a pro se claimant and issues a settlement check, the insurer must pay all valid medical provider liens before making any payments to the...more

Nevada Supreme Court Rules HOA Super-Priority Liens Can Be Revived after Release

Homeowners’ associations have a more robust tool for forcing mortgage lenders to pay delinquent assessments following a September 14 decision by the Nevada Supreme Court. Nevada HOAs have enjoyed a super-priority lien under...more

Priority of Operator's and Possessory Liens and the Need to Register or Prove Your Lien

by Bennett Jones LLP on

The Alberta Court of Queen's Bench recently reviewed the law regarding priority of operator’s liens and emphasized the heavy evidentiary burden to be satisfied by a creditor asserting a possessory lien in Cansearch Resources...more

Dramatic change ahead for the Ontario construction industry

by DLA Piper on

With the summer months behind us, the fall season in the construction industry will include the next steps in passing Bill 142, also known as the Act to Amend the Construction Lien Act. If implemented, Bill 142 will...more

Nevada Supreme Court Clarifies the Litigation Waiver of the One-Action Rule

by Snell & Wilmer on

Nevada has a one-action rule which, with limited exceptions, requires a creditor seeking to recover a debt secured by real property to proceed against the security first prior to seeking recovery from the debtor personally....more

Two Recent Decisions Demonstrate Continued Disagreement Over Whether Economic Value or Face Amount of Liens Is Appropriate Metric...

by Jones Day on

The ability of a trustee or chapter 11 debtor in possession ("DIP") to sell bankruptcy estate assets "free and clear" of liens on the property under section 363(f) of the Bankruptcy Code has long been recognized as one of the...more

Ninth Circuit Joins “Minority” of Courts That Allow Property to be Sold in Bankruptcy Free and Clear of Leaseholds

The Ninth Circuit recently held, in Pinnacle Rest. at Big Sky, LLC v. CH SP Acquisitions, LLC (In re Spanish Peaks Holdings II, LLC), No. 15-35572, 2017 U.S. App. LEXIS 12526, 2017 WL 2979660 (9th Cir. July 13, 2017), that a...more

Energy Newsletter - August 2017

by King & Spalding on

Practical Issues Under Joint Operating Agreements Relating to Withdrawals, Transfers and Changes in Control - In light of their long term objectives and potential future transactions, parties should consider the...more

How Not to Secure an Oil Well Lien in Louisiana

by Gray Reed & McGraw on

Rozel Operating v. Crown Point Holdings, LLC, et al., reminds one of the need to understand and apply the meaning of terms used in a statute one is attempting to enforce. And imaginative theories don’t work without evidence...more

Lien on Me: B.C. Court Cancels Builder’s Lien Due to Procedural Misstep

In Scandia Paving Ltd. v. Bengag (Scandia Paving), the Supreme Court of British Columbia (Court) cancelled the plaintiff’s builder’s lien because the plaintiff commenced its enforcement action in the wrong court registry. The...more

A primer for contractors: Getting paid -- fact or fiction?

by Hellmuth & Johnson PLLC on

As a contractor, getting paid for work completed isn't always as easy as collecting onsite or sending an invoice. Hellmuth & Johnson construction law attorney Blake Nelson answers fact or fiction when it comes to collections,...more

Actual Notice Exception to Pre-Lien Notice Requirement of Nevada Lien Statute Does Not Apply to Architect’s Offsite Work When No...

by Pepper Hamilton LLP on

Iliescu v. Steppan, No. 68346, 2017 Nev. LEXIS 38, (Nevada Supreme Court, May 25, 2017) - Appellants Iliescu entered into a Land Purchase Agreement to sell four unimproved parcels in downtown Reno, Nevada to Consolidated...more

Saskatchewan Court of Appeal Clarifies Priority Rules for Builders' Liens Arising in Connection with the Recovery of Minerals

by Bennett Jones LLP on

The Saskatchewan Court of Appeal recently released a landmark decision National Bank of Canada v KNC Holdings Ltd, 2017 SKCA 57 (National Bank) which will significantly affect the priority ranking of certain Saskatchewan...more

Third Circuit Rejects Unsecured Oil Producers’ Claims of Automatic Perfection

by King & Spalding on

On July 19, 2017, the U.S. Court of Appeals for the Third Circuit (the “Court”) issued an opinion, upholding a district court’s ruling that downstream purchasers took oil purchased from a bankrupt intermediary, SemGroup L.P....more

Tax Changes Implemented As Part of Revenue Package Supporting Illinois Budget

by McDermott Will & Emery on

July 6, 2017, after months of wrangling and a marathon 4th of July weekend session, the Illinois House of Representatives voted to override Governor Bruce Rauner’s veto of Senate Bill (SB) 9, the revenue bill supporting the...more

Credit Reporting Agencies Remove Most Judgment and Lien Information from Credit Reports

by Nexsen Pruet, PLLC on

Did you know that beginning July 1, 2017, the three largest nationwide credit reporting agencies, Experian, Equifax and Transunion, will delete certain civil judgment and lien information from the databases they use to create...more

Refinancing the Borrower through an Assignment and Assumption: When, Why, and How

by Blank Rome LLP on

In Part 1 of this two-part series, Jason I. Miller introduces the assignment and assumption structure and its benefits, discusses the factors a lender can use to determine whether it is ultimately a beneficial strategy to...more

Unpaid Real Estate Tax Can Become a Lien on All of a Property Owner’s Real Estate in Pennsylvania

The basic notion that unpaid real estate taxes may become a lien against property for which those taxes have been assessed and gone unpaid is commonplace to many. The framework for this process is contained in statutes such...more

In re Lutz – A Value’d Decision Under Section 363(f)(3)

The Bottom Line - The Bankruptcy Court for the District of New Jersey denied the Debtors’ request for approval of a sale of property free and clear of liens encumbering the property. The court determined that the term...more

District Court in Cal Dive Rules Against Vessel Owner's Challenge to Maritime Lien

by Holland & Knight LLP on

The U.S. District Court for the Southern District of New York has denied a motion for summary judgment filed by a vessel owner that sought to dismiss the maritime lien claim of a provider of deck personnel. The court's...more

IRS Issues Guidance For Administration of Estate Tax Lien Discharge Requests

by McNair Law Firm, P.A. on

In June of 2016, the Internal Revenue Service (IRS) changed its procedure for granting discharges of estate tax liens and implemented centralized handling of applications for discharge. Historically, Specialty Examination...more

Delaware Bankruptcy Court Approves Indenture Trustee Fees in Face of Fee Objection by Certain Noteholders

by Dorsey & Whitney LLP on

On March 8, 2017, the U.S. Bankruptcy Court for the District of Delaware issued a decision in In re Nortel Networks Inc., et al., 2017 Bankr. LEXIS 674 (Bankr. D. Del. Mar. 8, 2017), that addresses the issue of whether an...more

Thinking About Improving Your Louisiana Facility? Follow These Steps or Risk Unlimited Lien Liability Under Louisiana’s Private...

by Liskow & Lewis on

If a subcontractor or supplier on a Louisiana construction project is not paid in full, it can file a lien against the owner’s property and sue the owner for payment even though it did not contract with the owner and even if...more

A Forgotten Tool for Commercial Landlords - Statutory Landlord’s Liens

by Davis Brown Law Firm on

The laws of Iowa give commercial property lessors/landlords an often forgotten tool to use when a tenant owes rent and other monthly lease expenses defined as “rent” under the lease agreement. This tool is called a statutory...more

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