2005 Articles

Bankruptcy 2005: New landscape for preference proceedings By Kevin C. Driscoll, Jr. December 2005 Though largely noted for its reform of consumer bankruptcy law, the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (New Code) makes notable changes to non-consumer bankruptcy law.
Case law update By Timothy J. Howard February 2005 Since our last meeting, we report the following matters relating to banking law.
Check 21 in 2005 By Tamik A. Bryant March 2005 The Check Clearing for the 21st Century Act ("Check 21"), which went into effect October 28, 2004, is designed to facilitate the broader use of electronic check processing without mandating that any bank change its current check collection practices, and reduce the cost of physically handling and transporting original paper checks.
Federal and state banking law cases By Timothy J. Howard December 2005 Sklodowski brought this class action against the defendant mortgage company for alleged breach of mortgage note, breach of fiduciary duty and violation of the Illinois Consumer Fraud and Deceptive Practices Act.
Intercreditor agreements in mezzanine financing: Advice for mezzanine lender’s counsel By David Neboyskey March 2005 This article discusses mezzanine financing generally and offers advice to mezzanine lenders' counsel for the negotiation and drafting of intercreditor agreements.
Not my job: The duty of third parties to assert exemptions on behalf of judgment debtors By Michael G. Cortina July 2005 Attorneys for banks and other creditors often find themselves asked by their clients whether they, as third-party respondents to a collection proceeding, have a duty to assert exemptions on behalf of their customers.
Revisions to Chapter 12 under the new Bankruptcy Code Provisions By Jeffrey A. Mollet July 2005 The recent bankruptcy bill included changes to the provisions of Chapter 12. Among them are the following highlights:
Safeguarding your life savings from future creditors By Martin P. Ryan July 2005 Protecting assets from the claims of creditors has begun to assume a more prominent role in estate and financial planning due to the increasingly litigious nature of society.
Section 105 bankruptcy sanctions By Bradley W. Small & Philip D. Speicher December 2005 Section 105 of the Bankruptcy Code, although used sparingly, is an alternative source of authority permitting the Bankruptcy Court to impose sanctions against those attorneys who abuse the courts or judicial process.
The Seventh Circuit holds that service of a summons and complaint is a communication to a debtor under Fair Debt Collection Practices Act By Jeffrey D. Richardson February 2005 In an opinion entered on December 20, 2004 the Seventh Circuit rendered a decision concerning the Fair Debt Collection Practices Act which reflects the ongoing pitfalls which attorneys can fall prey to under the FDCPA.
Survival of remedies after dissolution of an LLC By Jennifer Rojas February 2005 It is well known that the core concept of a Limited Liability Company ("LLC") is that it is a legal entity distinct and separate from its members.
Unresolved issues concerning tenancy by the entirety By Richard F. Bales April 2005 A look at potential landmines.
Update by banking committee By Timothy J. Howard July 2005 In this meeting's report, I picked up two cases that I missed from December 2004. Fortunately, not many cases have been reported since our February meeting, so the report is very short.
An update on “Miranda Warnings” for debt collection lawsuits By Patrick E. Ward & Darla A. Foulker July 2005 "You have the right to dispute this debt. Anything you say can and will be used against you in a court of law . . . ." If this sounds like the debt police, you better take a look at Thomas v. Law Firm of Simpson & Cybak , et al.