On occasion a lender is confronted with a complicated question of whether it can lend based on collateral in the form of its own stock. Unfortunately, this is not legally acceptable collateral, as neither a national, nor a local Florida bank may issue a loan and secure that loan with […]
As the economy remains hot and the lending environment remains competitive, many OCC regulated banks will turn to loan participation transactions in order to turn a profit. Often these transactions are made in a bit of a vacuum with the participating/purchasing bank(s) relying on the diligence and underwriting of the […]
Under Florida law, there are maximum interest rates that lenders may charge. Any loan with interest in excess of the specified limit is subject to either civil or criminal usury, which means that the lender may have to pay significant penalties or forfeit the right to collect on the loan. […]
While bankruptcy proceedings generally allow individuals an opportunity to discharge many different liabilities, there are some classes of liabilities—such as those involving fraud—that are not dischargeable in bankruptcy. The Bankruptcy Code (“Code”) prohibits the discharge of “any debt . . . for money, property, [or] services . . . to the extent obtained by . . . false pretenses, a false representation, […]
The debt collection process is based upon a creditor’s right to repayment from the liquidation of a debtor’s assets. In Florida, there are many judicial procedures available, which allow creditors to identify, seize, lien, levy and force the sale of a debtor’s assets in order to satisfy the indebtedness owed […]
Congratulations! The court has ruled in your favor and awarded a favorable judgment. However, there is no contact with the defendant and it’s not clear what assets are in play. Therefore, you need an effective plan on how to aggressively collect the judgement due–but without violating federal or state laws […]
What happens when a debtor is granted an automatic stay in bankruptcy court? Essentially, it halts creditors and potential creditors from trying to collect pre-bankruptcy debts. However, there are exceptions which may be relevant to your case. This video presentation explains the automatic stay as set forth in the U.S. […]
Construction projects at their foundation are no different than any other businesses. Cash is king. Therefore, those who control the cash, often control the process. As a result, lenders and owners have major advantages in negotiation with a certified contractor. However, contractors and sub-contractors who thoroughly understand the process can […]
A collateral lien may exclude some categories of collateral. This is of particular concern if a piece of property changes from one category to another. In this video presentation, Charles B. Jimerson and two additional attorneys provide a thorough explanation of purchase money security interest (also known as PMSI). Additionally, the speakers […]
There are fraudulent transfer remedies available to creditors, whether their claims are liquidated, mature or immature. But what fraudulent transfer defenses are likely, for debtors or creditors alike? Asset protection professionals involved with estates and trusts grapple with understanding these rights everyday. This video presentation was recorded by Jimerson Birr […]