News & Analysis as of

Interest Accrual

Falcon Rappaport & Berkman LLP

Fourth Circuit Holds That Settlement of Nondischargeable Debt and Resulting Interest and Fees Owed Thereunder Are Both...

We have written in the past about exceptions to the general rule regarding a debtor’s ability to discharge debt in bankruptcy and achieve a “fresh start.” In a recent decision of interest, the Court of Appeals for the Fourth...more

Davies Ward Phillips & Vineberg LLP

Taxpayers Must Pay Interest on Non-Existent Tax Debts

In The Bank of Nova Scotia v The Queen, the Tax Court of Canada (TCC) considered how to calculate arrears interest on an audit adjustment that is offset by a loss carryback. ...more

Burr & Forman

Second Circuit Holds Debt Collector Did Not Need to Include Interest Disclosure in Settlement Offer

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In its 2016 decision in Avila v. Riexinger & Associates, LLC, the Second Circuit Court of Appeals held that an attempt to collect a debt that states the current balance owed but does not disclose whether interest and fees are...more

Bradley Arant Boult Cummings LLP

The Long Shadow: COVID-19 Continues to Pose Significant Compliance Challenges for Mortgage Servicers

The COVID-19 Pandemic has wreaked havoc on the mortgage servicing industry, putting significant strain on both mortgage servicers and their borrowers. During this pandemic, mortgage servicers are faced with the difficult task...more

Cozen O'Connor

Lease Forbearance Agreements in the Age of COVID-19

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As retail businesses around the country begin the process of slowly restarting after the COVID-19 shut down, many tenants still find it difficult, if not impossible, to meet their rent and other financial obligations. Some...more

Hinshaw & Culbertson - Consumer Financial...

Consumer Law Hinsights – April 2020

Welcome to Consumer Law Hinsights?a monthly compilation of nationwide consumer protection cases of interest to financial services and accounts receivable management companies. This edition highlights our interactive COVID-19...more

Greenberg Glusker LLP

IRS Issues Notice Providing for the Delay of Federal Tax Filings and Federal Tax Payments

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Although it has occurred sporadically – Notice 20-17 on March 18, Notice 20-18 on March 21, Notice 20-20 on March 27 – the IRS has finally issued comprehensive (almost) guidance in Notice 20-23 on April 9 providing for the...more

Butler Snow LLP

Mississippi DOR Responds to Requests to Relief

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The Mississippi Department of Revenue is aware of the new pressures on the business community and state governments in responding to the COVID 19 pandemic. We are committed to doing what we can to help provide relief and...more

Carlton Fields

Real Property, Financial Services, & Title Insurance Update: Week Ending February 28, 2020

Carlton Fields on

Real Property Update - Forum Selection / Equitable Tolling of Statute of Limitations: Equitable tolling was inapplicable where FDIC failed to raise running of statute of limitations in defense of federal court's dismissal...more

Kramer Levin Naftalis & Frankel LLP

Under Recent New York Case, You May Be Liable for Interest on Unclaimed Property

Banks, insurers and other financial services companies, as well as other companies holding unclaimed property, are automatically liable for interest that accrues on unclaimed property held by them in New York, without having...more

Pillsbury - Policyholder Pulse blog

Delaware Court Adopts Pillsbury’s Theories on Novel D&O Insurance Issues (Part 2)

Previously, we reported an important ruling of first impression by the Delaware Superior Court that a shareholder appraisal action against Pillsbury’s client Solera Holdings Inc. was a “Securities Claim” under Solera’s...more

Skadden, Arps, Slate, Meagher & Flom LLP

Delaware Appraisal Actions: When Does It Make Sense to Prepay?

In response to the growing practice of “appraisal arbitrage,” in 2016 Delaware’s General Assembly amended the state’s appraisal statute, Section 262 of the Delaware General Corporation Law. The amendment to Section 262(h)...more

Smith Debnam Narron Drake Saintsing & Myers,...

Consumer Financial Services Spring 2018 Update

District Court Takes Expansive View of Deceptive or Misleading Practices under FDCPA - The FDCPA prohibits a debt collector from using "any false, deceptive, or misleading representation" in connection with the collection...more

Smith Debnam Narron Drake Saintsing & Myers,...

Second Circuit Seeks to Provide Clarity as to Interest Disclosure

The Seventh Circuit recently joined the Fourth and Ninth Circuits in holding that a debt collection discharges its obligation as to debt validation by verifying that its letters accurately conveyed the information received...more

Spilman Thomas & Battle, PLLC

HB 4270 - Information Reporting and Payments to Owners (Check Stubs Relating to Oil and Natural Gas Royalty Payments)

H.B. 4270 - Passed - March 10, 2018 - Signed by Governor - March 27, 2018 - Effective - June 8, 2018 - The Information Reporting and Payments to Owners bill (H.B. 4270) is a companion bill to the Cotenancy...more

Smith Debnam Narron Drake Saintsing & Myers,...

District Court Takes Expansive View of "Deceptive or Misleading" Practices under FDCPA

The FDCPA prohibits a debt collector from using “any false, deceptive, or misleading representation” in connection with the collection of a debt. See 15 U.S.C. § 1692e. Recently, the Eastern District of New York took an...more

Foodman CPAs & Advisors

Out of Compliance Taxpayers: Beware of new IRS-Programs!

The IRS-Criminal Investigation Unit (IRS-CI) is the Criminal Law Enforcement Arm of the IRS. Its conviction rate of over 90% is one of the highest in federal law enforcement. Those convicted pay taxes, penalties and...more

Burr & Forman

Discharge of Federal and State Income Taxes in Bankruptcy

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If an individual or business owes unpaid income taxes to the IRS, or to a state, federal bankruptcy laws may provide relief for some, if not all, of these taxes. Generally applicable to “older” federal and state income taxes,...more

Farrell Fritz, P.C.

Snowbird? Or the real deal?

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So you recently moved from New York to Florida? Abundant sunshine, no income tax, no estate tax — wonderful! One problem: New York State tax authorities may not think you really moved! And they’re assessing heavy income...more

Dorsey & Whitney LLP

2016 Amendments to the Delaware General Corporation Law

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On June 16, 2016, Delaware Governor Jack Markell signed into law House Bill No. 371, which makes a number of noteworthy changes to the Delaware General Corporation Law (“DGCL”). The most significant 2016 amendments to the...more

Allen Matkins

Ninth Circuit Bankruptcy Appellate Panel Holds that an Oversecured Creditor Is Entitled to Default Interest After the Petition...

Allen Matkins on

In Wells Fargo Bank, N.A. v. Beltway One Dev. Grp., LLC (In re Beltway One Dev. Grp., LLC), 547 B.R. 819 (B.A.P. 9th Cir. 2016), the Ninth Circuit Bankruptcy Appellate Panel recently held that an oversecured creditor is...more

Burr & Forman

FINRA Fines UBS for Muni-Interest Reporting Errors

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The Financial Institutions Regulatory Authority fined a UBS unit $750,000 for mistakenly reporting customers’ municipal-bond-account interest was tax-exempt, when the firm’s handling of the trades made it taxable instead....more

Dechert LLP

Real World - Spring 2013: Break clauses - tenants should err on the side of caution

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With the outlook for the UK economy still rather patchy at best, it is not surprising that tenants have in recent times been looking closely at their lease terms and, in particular, any break rights that they may have, with a...more

Hinshaw & Culbertson LLP

Is It Prejudgment Or Postjudgment Interest? The Conclusion Can Make A Difference

In Lucky United Properties Investments Inc. v. Lee, 2013 DAR 1614 (2013), the California Court of Appeal for the First Appellate District decided when interest begins to accrue on an award of prejudgment interest in the...more

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