Generally, a commercial landlord does not have a duty to mitigate or reduce its damages after a tenant breaches the commercial lease agreement. See Coast Fed. Savs. & Loan Ass’n v. DeLoach, 362 So. 2d 982, 984 (Fla. 2d DCA 1978). However, there is an exception where the commercial landlord […]
After a borrower default, lenders have multiple options to consider. While foreclosure may be inevitable, with the right facts and strategy, lenders can minimize their risk and maximize their potential recovery. Part 1 of this series provided a general overview of the series and initial considerations for lenders dealing with […]
Many businesses require their employees to sign non-compete agreements, as a condition of their employment. In Florida, those non-compete agreements and their enforceability are governed by Section 542.335 of the Florida Statutes. As discussed more fully below, referral sources and patient and customer lists can be legitimate business interests warranting […]
Given the industry-wide effects from COVID-19, lenders are already aware that many clients in the hospitality industry will have difficulties staying current on their mortgages and loan obligations. This is especially true for hotels and restaurants. This blog series focuses on mortgage lending with regard to hotels and restaurants and […]
7(a) Loan Liquidation Actions This article is Part I of a two-part blog series, designed to assist 7(a) lenders and Certified Development Companies in determining which liquidation actions require SBA’s pre-approval on SBA loans. Part I in this blog series addresses the liquidation actions that require the SBA’s pre-approval for […]
Part 1 of this series provided an overview of Florida’s Consumer Collections Practices Act (FCCPA) and explained why it is imperative for all business owners to be aware of, and understand, the FCCPA. This article explores Section 559.77’s bona fide error defense and how businesses can be prepared to defend […]
All businesses in the state of Florida need to be familiar with Florida’s Consumer Collection Practices Act (“FCCPA”). The FCCPA is found at Sections 559.55-559.785 of the Florida Statutes. The FCCPA is intended to protect consumers and is intentionally unfair to creditors. See §559.552, Fla. Stat. (2019); Kelly v. Duggan, […]
Construction projects are fragile and issues often arise when the project in practice doesn’t match the project in planning. Resolving these issues has become more standardized with the enactment of Florida Statutes Chapter 558, but the chapter may create as much litigation for insurance companies as it hopes to alleviate. […]
Life insurance protects us after our loved ones pass away, but only if we are entitled to its benefits. Unfortunately, dealing with a death can only be made more difficult by having to prove the death actually occurred. In order to protect all those insured by a particular company and […]
Bankruptcy filings indicate a debtor’s lack of working capital and, justifiably so, strike concern into any lender still hanging on to a promise of payment from their debtor. But, depending on the creditor’s agreement with the debtor and the creditor’s actions after payment default, a creditor could recuperate collateral assets […]