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Results: 1-10 of 491

Debtor’s loan discharged despite false loan application statements

  • Reed Smith LLP
  • -
  • USA
  • -
  • February 19 2007

In a harsh decision for the lender, the U.S. Court of Appeals for the Tenth Circuit has determined that a debtor’s loan may be discharged in chapter 7 bankruptcy despite the borrower’s admission that his personal financial statement contained materially false representations about his financial condition

American Home court excludes servicing from safe harbors

  • Cadwalader Wickersham & Taft LLP
  • -
  • USA
  • -
  • January 8 2008

A Delaware bankruptcy court decided on Friday that mortgage servicing rights could be severed from a mortgage loan repurchase agreement that fell within applicable safe harbors of the Bankruptcy Code, at least where the loans were transferred “servicing retained.”

Delaware bankruptcy court severs servicing rights from safe harbored repo

  • Cadwalader Wickersham & Taft LLP
  • -
  • USA
  • -
  • January 31 2008

Congress enacted amendments to the United States Bankruptcy Code in 2005 designed to increase certainty in the marketplace for mortgage loan repurchase agreements and other financial contracts

Dashed expectations yield no recovery in Solutia

  • Cadwalader Wickersham & Taft LLP
  • -
  • USA
  • -
  • January 31 2008

Creditors have recently made some headway in collecting the full amount to which they are contractually entitled pursuant to various debt instruments

Mortgage extinguished by time

  • Wragge & Co LLP
  • -
  • United Kingdom
  • -
  • May 23 2007

The bank took a charge on the borrowers’ property

Good faith agreements

  • Wragge & Co LLP
  • -
  • United Kingdom
  • -
  • July 18 2007

The claimant and defendant both lent money to a company (Y) under a credit facility

Existing guaranty extinguished by refinancing

  • Reed Smith LLP
  • -
  • USA
  • -
  • September 13 2007

Lenders take notea state court has held that in some circumstances a refinancing transaction can extinguish an original guarantee

Ownership of chattels on repossession

  • Wragge & Co LLP
  • -
  • United Kingdom
  • -
  • September 30 2007

Having obtained a possession order against the claimant’s property, the bank then sold it

Second Circuit affirms dismissal of employees' lender liability WARN Act suit

  • Schulte Roth & Zabel LLP
  • -
  • USA
  • -
  • September 28 2007

The United States Court of Appeals for the Second Circuit on Aug. 30, 2007, affirmed the dismissal of a lender liability class action brought by employees of a defunct originator and seller of mortgages and home equity loans

Proprietary estoppel and priority of payment

  • Wragge & Co LLP
  • -
  • United Kingdom
  • -
  • September 30 2007

The defendant supplied drink to the owner of a club, the cost of which was secured by a charge over the club premises