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Section 523(a)(2)(A) of the Bankruptcy Code allows a creditor to obtain a judgment denying its debtor a discharge of debts incurred by false pretenses or actual fraud. The Court further noted that fraudulent conveyances at common law did not require a misrepresentation by a debtor to his creditor.
While the traditional common law grounds for the appointment of a receiver remain, the Act also offers additional grounds and provides lenders with valuable options to protect their interests in the commercial property, including the right of receivership after judgment. 714.14, Fla. Conclusion.
The court can also order a deficiency judgment against the debtor—that is, a money judgment—to the extent the foreclosure sale does not produce sufficient funds to pay the debt owed to lender on the SBA loan. Short Sale.
1st DCA 1992) (providing that where the borrower filed for bankruptcy after a default judgment of foreclosure, the lender was able to sever its claim for enforcement of the personal guaranty and pursue the personal guarantor). See, e.g. , Guirlinger v. Goldome Realty Credit Corp., 2d 1135, 1136 (Fla. This prevents a double recovery.
History of the Judgment Enforcement Problem. 80 percent of the civil money judgments in the United States are never collected. Note: when drafting the judgment language for the judge’s signature, many attorneys stop with “legal fees.” when you win, the court awards you the money judgment and the defendant has to pay.
Ronald Neff was a dentist against whom his patient, Douglas DeNoce, obtained a judgment for malpractice. The bankruptcy court granted Neff a summary judgment on the complaint, and DeNoce appealed, contending the one-year period in the statute is subject to equitable tolling based on Neff’s first two bankruptcy cases. 3d 1009 (9 th Cir.
These notices, such as the proposed Statement of Rights, make it appear that the collection attorney is providing legal advice to the consumer. Such advice would violate the Rules of Professional Conduct, since the attorney for the creditor may not also provide legal advice to the debtor.
He represents various financial institutions, creditors, landlords, and other parties in all aspects of loan modifications and restructuring, commercial foreclosures, enforcement of security interests and domestic and foreign judgments, Chapter 7 and 11 bankruptcies, and creditors’ rights litigation.
Although this scenario may sound far-fetched, it is an everyday occurrence for creditors’ rights attorneys, who have been targeted by “meaningful attorney involvement” lawsuits for years. If this can happen to creditors’ rights attorneys and their clients, might you and your clients be next? 1692, et seq. the “FDCPA”).
In Opportunity Finance , the debtors were Petters Company, Inc. (“PCI”) The Eighth Circuit recently answered this question in the negative, holding a lender to a special purpose entity is not a person aggrieved by an order of substantive consolidation and, therefore, lacks standing to appeal the order. Opportunity Finance, LLC et al v.
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