Right of Redemption

News & Analysis as of

After the Bank Forecloses, Must It Actually Sell Your House?

The Wisconsin Supreme Court will answer this question in Bank of New York v. Carson, No. 2013AP544. It heard argument in this case last Tuesday. The case began more than 3 1/2 years ago when a widow—physically and...more

Maine Allows Expedited Foreclosure Of Abandoned Properties

On April 5, Maine Governor Paul LePage signed into law LD 1389, which expedites foreclosures on properties determined by a court to be abandoned by shortening the redemption period from 90 to 45 days....more

Partial Ownership Redemption Plans in Family Businesses

The ability of a minority owner in a closely held family business to obtain liquidity for her interest in the company is often very limited. There is not a great market to buy small holdings in such companies. There are also...more

Insider Trading in Mutual Funds: Do Traditional Theories Apply?

A federal court of appeals held out the possibility that insider trading prohibitions – at least under the classic theory – do not apply to mutual fund redemptions. The U.S. Court of Appeals for the Seventh Circuit...more

Alabama Legislature Passes Bill Protecting Lenders’ Rights When Redeeming Property

Before concluding its legislative session, the Alabama Legislature passed a bill that provides a lender additional protection when a lender is forced to redeem property due to its borrower’s failure to pay property taxes on...more

Financial Services Quarterly Report - Second Quarter 2013: So You Want to be a U.S. Mutual Fund Manager

So you are an investment adviser registered with the Securities and Exchange Commission (“SEC”) under the Investment Advisers Act of 1940, as amended (“Advisers Act”). You currently manage separate accounts and, perhaps, one...more

Shedding Light on a Bankruptcy Safe Harbor: Defining the Reach of Section 546(e)

Bankruptcy trustees and debtors routinely attempt to increase the amount of money available to creditors in a bankruptcy case by “clawing back” funds transferred by the debtor to another party. Several sections of the...more

Exchangeable Share Structures Revisited

Exchangeable share structures have been a fixture in structuring cross-border share exchange mergers and acquisitions involving Canadian corporations for decades. Although the Canadian government previously announced plans to...more

SEC Proposes Major Revisions to Money Market Fund Rules

On June 5, 2013, the Securities and Exchange Commission (“SEC”) voted to release its long-awaited proposals to make significant revisions to the rules governing money market mutual funds (“money funds”), as well as to adopt...more

Tax Lien Purchasers Must Give MERS Notice, Says Arizona Appeals Court

Recognizing MERS’s role in modern day mortgage lending, the Arizona Court of Appeals confirmed in Delo v. GMAC Mortgage, LLC that tax lien purchasers must notify MERS when identified in the Deed of Trust before foreclosing on...more

Pitfalls in the Redemption of Property by Lenders

In Alabama, when a property owner fails to pay his ad valorem property taxes, his property may be sold at a public auction to the highest bidder (the “tax purchaser”). Statutory law in Alabama provides that the owner of the...more

The Owner’s Manual - Winter 2013

In This Issue: Introduction; Partnering with Private Equity Firms; Beyond Bank Borrowing: Mezzanine Funds & Growth Captial; The Auction Block: Finding the Right Buyer for Your Company; First Steps: “Don’t Let Your Exit...more

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