Jun 10, 2015 | Banking, Creditors’ Rights & Bankruptcy, Financial Services, Litigation, News
A recent Supreme Court case considered whether, in a Chapter 7 bankruptcy proceeding, a junior mortgage may be voided when the senior mortgage amount exceeds the value of the property. For lenders, this means that if you hold a mortgage that is second in line to the...
Jun 3, 2015 | Banking, Creditors’ Rights & Bankruptcy, Financial Services, Litigation, News
Bankruptcy courts have a seemingly obvious purpose—to settle bankruptcy claims. However, bankruptcy courts may also hear and decide matters that would traditionally be argued in a federal district court if those matters are related to the bankruptcy proceeding and the...
May 29, 2015 | Banking, Creditors’ Rights & Bankruptcy, Financial Services, Litigation, News
During a Chapter 13 bankruptcy proceeding, a trustee collects a portion of a debtor’s wages for distribution to creditors according to a court-approved payment plan. At any time, a debtor may convert his Chapter 13 proceeding into a Chapter 7 proceeding, during which...
May 29, 2015 | Banking, Creditors’ Rights & Bankruptcy, Financial Services, Litigation, News, Real Property & Land Use
As an update to our blog post of November 25, 2014 (below), the United States District Court for the District of Oregon recently changed course with regard to property surrendered in bankruptcy, vacating and remanding In re Watt. Judge Ann Aiken recognized the lack of...
Jan 21, 2015 | Banking, Creditors’ Rights & Bankruptcy, Employment Law, Financial Services, Litigation, News
By Randall Sutton, Saalfeld Griggs PC As financial services employers are well aware, the legalization of marijuana for recreational use poses new challenges for banks wishing to maintain a drug free workplace. If the experiences of Colorado and Washington are any...