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Severance Agreements: Tips for Ensuring They Are Enforceable

December 30, 2022 Florida Business Litigation Blog, Professional Services Industry Legal Blog

Severance agreements are common contracts that are entered into between an employer and a departing employee in which the employee receives extra compensation while the employer receives piece of mind from a non-compete, release of potential claims, or other protections that may be negotiated.  However, there are restrictions on severance […]

Dual Representation in Derivative Litigation: Who Can Represent the Company?

December 15, 2022 Florida Business Litigation Blog, Professional Services Industry Legal Blog

Derivative litigation occurs when a shareholder sues another shareholder, officer, or director of the company for misconduct that harms the company. In many derivative lawsuits, the facts are similar: the majority in control of the company commits some wrongdoing (i.e. stealing corporate funds or misdirecting corporate opportunities), and the minority […]

What Responsibility and Authority do SBA Lenders Have in Servicing and Liquidating Loans?

November 2, 2020 Banking & Financial Services Industry Legal Blog, Florida Business Litigation Blog

Lenders are responsible for servicing and liquidating all of the 7(a) loans in their portfolio. CDC’s are responsible for servicing 504 loans in their portfolio, but they will only be responsible for liquidating the loan based on its designation. Lenders and CDC’s must be cognizant about their responsibilities and authority […]

How SBA Lenders Ensure Expense Recovery in Loan Liquidation and Litigation

October 28, 2020 Banking & Financial Services Industry Legal Blog, Florida Business Litigation Blog

Lenders should be cognizant about what expenses are classified by the SBA as recoverable or non-recoverable. The SBA does not pay for non-recoverable expenses, such as any fee or cost incurred that was not necessary, reasonable or customary. In addition, the SBA does not pay for legal expenses for non-routine […]

New Florida Law Substantially Reduces Retainage Rate on Government Construction Projects

October 1, 2020 Construction Industry Legal Blog, Florida Business Litigation Blog

On September 18, 2020, Florida Governor Ron DeSantis signed House Bill 101, an act relating to public construction, into law. This new law amends Section 218.735, Florida Statutes (the “Local Government Prompt Payment Act”) and Section 255.078, Florida Statutes (the “Florida Prompt Payment Act”), by reducing the maximum retainage rate […]

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