Liens

News & Analysis as of

The Uniform Commercial Real Estate Receivership Act (Part 1) — Pathway to “Receiver Sales” of Real Estate Security?

“Uniform” laws seem to be all the rage these days. A group called the Uniform Law Commission (aka National Conference of Commissioners on Uniform State Laws) does the drafting, and the goal is to come up with a...more

Resolution of Intercreditor Dispute in Favor of ABL Lenders in the RadioShack Bankruptcy Case

On May 11, 2016, the Delaware bankruptcy court issued an opinion in the RadioShack bankruptcy case addressing an intercreditor dispute between Salus Capital Partners, LLC, the “last out” lender in RadioShack’s prepetition...more

Ex Parte Attachment, and Priority, Reinstated to First in Time Creditor

In Estate of Summers v. Nisbet, the Maine Supreme Judicial Court reinforced the first in time, first in right nature of attachment and trustee process under Maine law. Attachment and trustee process are powerful enforcement...more

Real Property & Title Insurance Update: Weeks Ending June 24 & July 1, 2016

REAL PROPERTY UPDATE - Foreclosure/Leave to Amend: borrower should have been granted leave to amend to assert affirmative defenses pursuant to motion filed 13 days before trial because there was no prejudice, the...more

Super Priority Municipal Liens: When Is Your First Mortgage Not First In Line?

In Connecticut, the General Statutes have granted “super” priority status to certain types of municipal liens. As a result, these liens jump to the head of the priority line, even if your bank has a first-mortgage on the...more

Unsecured Creditor Perspectives in Energy Restructurings

This Practice Note provides guidance and advice to unsecured creditors in energy restructurings. This Note specifically addresses restructurings in the oil, gas, and coal industries and the strategies that unsecured creditors...more

Be Prepared: How to Avoid the Super-Priority Trap

Benjamin Franklin once said, “By failing to prepare, you prepare to fail.” Servicers can face significant obstacles in preservation of their rights vis a vis assessments by homeowners’ associations and condo associations (a...more

Rhode Island Joins Lists of True Super-Priority Lien States for Condo Associations

In December 2015, the Rhode Island Supreme Court issued an opinion holding that Rhode Island’s Uniform Condominium Act provides a true “super-priority” lien to condominium owner associations (COAs) when a condominium owner is...more

Alberta Court Releases Game-Changing Decision on Certificate of Substantial Performance, Liens

In Chandos Construction Ltd. v. Twin Peaks Construction Ltd. (Chandos Construction), the Court of Queen’s Bench of Alberta (Court) held that once the certificate of substantial performance (Certificate) is issued and major...more

The Model Form JOA in Hard Times (and Farewell, Rally Possum)

Good morning class. Welcome to an advanced course on what can go wrong with the Model Form just when you need it. FIRST CASE - Do you know where to file your UCC financing statement?...more

Nevada Supreme Court Clarifies Extent of HOA Super-Liens

For the past several years, Nevada courts have been flooded with quiet title actions between mortgage lenders and buyers who acquired residential properties at homeowners association (HOA) super-lien foreclosures. Recently,...more

Consumer Financial Services Newsletter - May 2016

Debt Collection Letters Now Have a Safe Harbor In The Second Circuit - Avila v. Riexinger & Associates, LLC, 15-1548, --- F.3d ---- , 2016 WL 1104776 (2d Cir. March 22, 2016) - The U.S. Court of Appeals for the...more

Nevada District Judge Voids HOA Foreclosure Following Evidence that HOA Hindered Bank’s Efforts to Preserve its Mortgage

Nevada Eighth Judicial District Judge Elizabeth Gonzales has voided a 2014 homeowners association (HOA) foreclosure sale and ruled that a first mortgage held by Bank of America, N.A. was unaffected by the sale. The April 20,...more

Using a Special Needs Trust in the Settlement of a Product Liability Lawsuit

Product liability cases frequently involve severe and even catastrophic injuries. As a result, product liability defense counsel and insurance adjusters must be familiar with the prospects for use of a special needs trust as...more

Third Circuit Court of Appeals Upholds Carrier’s “Extended” Maritime Possessory Liens

Summary of Holding - In a recent opinion, in a case of first impression at the circuit level, the U.S. Court of Appeals for the Third Circuit held that maritime carriers and their customers may contractually extend the...more

Construction Financing and Mechanics’ Liens in Connecticut

Bankers and other professionals who have worked on construction loans in states other than Connecticut will know how much of a pain it can be to make construction loan advances. You usually need to perform a title update and...more

Arizona Files Thousands of Improper Child Support Liens

The Arizona Department of Economic Security (DES) admitted recently that it filed inaccurate child support liens in at least 8,241 cases. The Department is tasked with helping enforce child support orders and tracking the...more

Le nuove garanzie introdotte dal Decreto Legge n. 59 del 2016, il Pegno Non Possessorio ed il Patto Marciano

On May 3, 2016, the Official Gazette no. 102 was published the decree Law n. 59/16, launched by the government on April 29 (the "Decree") containing, inter alia, a series of measures to speed up the recovery of receivables....more

Connecticut Collections: How to get paid if you are owed money? Part 3: Steps in the Collection Process [Video]

Collections in Connecticut - how to get paid if you are owed money? Collecting money owed to you or your company can be frustrating. You or your company are owed money and have not been paid. What are your legal options? ...more

NVOCC Maritime Lien Enforcement: Do Your Documents Protect Your Interests?

In the recent opinion issued by the United States Court of Appeals for the Third Circuit, World Imps., Ltd., et al. v. OEC Grp. N.Y. (In re World Imps., Ltd.), 2016 U.S. App. LEXIS 7118, the Court determined that certain...more

Food and Beverage Law Update: April 2016

Finance - PACA Liens Could Impact Financing Terms - The Perishable Agricultural Commodities Act (PACA) is a federal law enacted in 1930 with the goal of protecting suppliers and sellers of agricultural goods from...more

Third Circuit Decisions Affirms Contractual Extension/Modification of Maritime Liens

A decision issued by the U.S. Court of Appeals for the Third Circuit on April 20, 2016, affirms the ability of ocean carriers and their customers to extend and/or modify the possessory lien that carriers have on cargo under...more

Massachusetts Supreme Judicial Court Rules On Lien Priority Between Condominium Associations and Mortgage Lenders

After nearly a decade of ongoing litigation, the Massachusetts Supreme Judicial Court (SJC) issued a decision in Drummer Boy Homes Association v. Carolyn P. Britton, No. 11969 slip op. (Mass. March 29, 2016) regarding the...more

Tennessee Amends Condominium Lien Law to Clarify Lack of Superpriority Right

On April 19, 2016, Tennessee Governor Bill Haslam signed HB 2401, amending Tennessee’s condominium statue to make it clear that condominium associations cannot acquire a “superpriority” lien that trumps a first security...more

Existence of Outstanding Medicare Lien Not Sufficient to Stall Settlement Payment

In Keith Karpinski v. Smitty’s Bar, Inc. (No. A143381), the California Court of Appeal for the First District held that the satisfaction of statutory liens, including those imposed by Medicare, is not necessarily a condition...more

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