In re Crane: update on appellate and legislative efforts to clarify Illinois mortgage requirements *

USA - July 11 2012
In February the Bankruptcy Court for the Central District of Illinois held in Crane v. Richardson, Case 11-09067, that the guidelines set forth in 765 ILCS 5/11 are mandatory, rather than permissive, and must be included within a mortgage to be free of avoidance challenges from bona fide purchasers or bankruptcy trustees.

Co-authors: Phillip J.F. Geheb.

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Lenders should take careful note of potential vulnerabilities exposed in TOUSA decision *

USA - May 25 2012
The United States Court of Appeals for the Eleventh Circuit issued its much anticipated decision in the TOUSA, Inc. bankruptcy cases on May 15, 2012.

Co-authors: Leo O. Salinger, John P. McNearney.

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Missouri Supreme Court reaffirms deficiency judgment measure in First Bank v. Fischer & Frichtel, Inc *

USA - April 18 2012
On Tuesday, April 17, 2012, the Missouri Supreme Court handed down its decision in First Bank v. Fischer & Frichtel, Inc. (Case No. SC91951), a case which we originally discussed in early-October.

Co-authors: Leo O. Salinger, John P. McNearney, Stephen M. James.

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Missouri Supreme Court decision on deficiency judgment law nears *

USA - December 6 2011
The Missouri Supreme Court docketed oral arguments in First Bank v. Fischer & Frichtel, Inc. (Case No. SC91951) for Wednesday, January 11, 2012.

Co-authors: Leo O. Salinger, Stephen M. James.

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Missouri Supreme Court will soon reexamine existing deficiency judgment law *

USA - October 6 2011
Lenders and borrowers, take note, because within the next six to twelve months, Missouri’s Supreme Court could dramatically alter existing Missouri law on the calculation of deficiency judgments after a foreclosure sale.

Co-authors: Leo O. Salinger, John P. McNearney.

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