Tag Archives: Creditors Rights and Commercial Collections

Overview of Florida’s New Uniform Commercial Real Estate Receivership Act

On July 1, 2020, the Uniform Commercial Real Estate Receivership Act (“Act”) became law in Florida as part of the newly created Chapter 714 of the Florida Statutes. The Act codifies existing common law in Florida regarding the right to … Read Full Post

CATEGORY: Banking & Financial Services Industry Blog, Florida Business Litigation Blog Practice Areas: , ,

Mitigating Risks Associated with Hotel, Restaurant and Entertainment Industry Economic Challenges – Part 3: Commercial Mortgage Default Options Including Acceleration and Enforcement of Personal Guaranties

In reviewing a loan file after a default by a borrower, lenders should evaluate whether the loan includes an acceleration clause and whether the loan is secured by any personal guaranties. With commercial loans, typically the loan documents will include … Read Full Post

CATEGORY: Banking & Financial Services Industry Blog, Florida Business Litigation Blog, Real Estate Development, Sales and Leasing Industry Blog Practice Areas: , ,

Does a Commercial Landlord Have a Duty to Mitigate Damages After a Tenant Breaches the Lease Agreement?

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 … Read Full Post

CATEGORY: Florida Business Litigation Blog, Real Estate Development, Sales and Leasing Industry Blog Practice Areas: , , ,

Mitigating Risks Associated with Hotel, Restaurant and Entertainment Industry Economic Challenges – Part 2: Pre-Foreclosure Loss Mitigation Options

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 … Read Full Post

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Mitigating Risks Associated with Hotel, Restaurant and Entertainment Industry Economic Challenges – Part 1: Introduction and Considerations When Hotels and Restaurants Default on Their Mortgages

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 … Read Full Post

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Florida’s Consumer Collection Practices Act (FCCPA) Part 2: Implementing Safeguards and Internal Procedures to Establish a Bona Fide Error Defense to Violations of the FCCPA

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 … Read Full Post

CATEGORY: Florida Business Litigation Blog, Florida Construction Industry Law Blog, Real Estate Development, Sales and Leasing Industry Blog Practice Areas: , , , , ,

Florida’s Consumer Collection Practices Act (FCCPA) Part 1: Understanding the FCCPA

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 … Read Full Post

CATEGORY: Florida Business Litigation Blog, Florida Construction Industry Law Blog, Real Estate Development, Sales and Leasing Industry Blog Practice Areas: , , , , ,

Treatment of Commercial Leases in Bankruptcy

The novel coronavirus pandemic and related government “stay at home” and “shelter in place” orders are causing serious negative financial impacts to business of all types.  Many of the hardest hit industries, such as restaurants and retailers, are industries in … Read Full Post

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Prejudgment Writ of Garnishment

Motion and/or Affidavit of Prejudgment Writ of Garnishment, §77.031 Fla .Stat. Garnishment is a statutory remedy used to reach tangible or intangible personal property of a debtor while that property is in the hands of a third party.  A very … Read Full Post

CATEGORY: Florida Business Litigation Blog Practice Areas: ,

Three Contract Provisions A Small Business Cannot Live Without-From A Litigator’s Perspective, Part 4: Contractual Provisions (Prejudgment and Postjudgment Interest)

Every small business contract should include a provision that states that the business is entitled to recover the maximum rate of interest permitted by law both prejudgment and postjudgment.  Many contracts provide for the recovery of interest, but very few … Read Full Post

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