FLORIDA SUPREME COURT CONFIRMS ZERO-TOLERANCE FOR MISLEADING UCC FILINGS
Jeffrey N. Schatzman | Miami, Florida | October 11, 2022
On September 29, 2022, the Eleventh Circuit Court of Appeals issued its opinion in 1944 Beach Boulevard, LLC v. Live Oak Banking Co. (In re NRP Lease Holdings, LLC), No. 21-11742, at *9 (11th Cir. Sep. 29, 2022), which reversed the Florida Middle District and Middle District Bankruptcy Courts’ decisions concerning perfection of a UCC-1…
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TITLE AGENTS BEWARE! FAILURE TO VERIFY MORTGAGE LOAN PAYOFF CAN BE COSTLY
Jeffrey N. Schatzman | Miami, Florida | September 14, 2022
In the recent Middle District of Florida Bankruptcy case of, Pinero v. Rodriguez (In re Rodriguez), 2022 WL 1599970 (Bankr. M.D. Fla. May 10, 2022) (Colton, J.), there are several real estate and bankruptcy crossover lessons to be learned. First and foremost, for those in the title insurance industry, the case focuses on a title…
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The President Signs Bankruptcy Legislation Increasing Eligibility Limits for Subchapter V and Chapter 13
Jeffrey N. Schatzman | Miami, Florida | June 23, 2022
On June 21, 2022, President Biden signed into law Senate Bill 3823, the “Bankruptcy Threshold Adjustment and Technical Corrections Act” (the “Act”). The Act reinstates the threshold debt limit of $7.5 million for Subchapter V of Chapter 11, retroactive to the original expiration date of March 28, 2022 for an additional two-year period. The Act…
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Bipartisan Legislation (S. 3823) Introduced to Make Permanent the SBRA $7.5 Million Debt Limit and to Modify the Qualifications for Filing Chapter 13
Jeffrey N. Schatzman | Miami, Florida | March 19, 2022
Senator Grassley Introduces Bipartisan Legislation to Make Permanent the SBRA $7.5 Million Debt Limit and to Increase the Qualifying Debt Limits for Filing Chapter 13 On March 14, 2022, U.S. Senator Chuck Grassley [R-IA] introduced S.3823, the Bankruptcy Threshold Adjustment and Technical Corrections Act. The Bill has bipartisan support and is co-sponsored by Senators Richard…
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Prominent Senators And Representatives Propose A Resolution For The President To Exercise Executive Authority To Cancel Up To $50,000 Of Student Debt Per Borrower.
Jeffrey N. Schatzman | Miami, Florida | February 5, 2021
On February 4, 2021, Senate Majority Leader Chuck Schumer, Senator Elizabeth Warren, and Congresswoman, Ayanna Pressley, joined by a number of Senate and House Democrats[1], proposed a bicameral Resolution for President Biden to cancel up to $50,000 in federal student debt per borrower. The proponents emphasize that the President can cancel student loan debt by…
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The Supreme Court Holds That Passive Retention Of Estate Property Does Not Violate The Automatic Stay, But Stay Tuned . . .
Jeffrey N. Schatzman | Miami, Florida | January 16, 2021
By unanimous opinion, the United States Supreme Court in City of Chicago, IL v. Fulton, 592 U.S. ___ 2021 (January 14, 2021), held that the City of Chicago’s retention of debtors’ vehicles impounded for unpaid fines for motor vehicle infractions did not constitute a violation of the Automatic Stay under 11 U.S.C. § 362(a)(3). Several…
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Consumer Bankruptcy Reform Bill Introduced In The House & Senate
Jeffrey N. Schatzman | Miami, Florida | January 15, 2021
Senator Elizabeth Warren (D-MA) and others have been persistent advocates for consumer bankruptcy reform both prior to and after enactment of the 2005 Bankruptcy Abuse Prevention and Consumer Protection Act (“BAPCPA”). President Biden has sided with Senator Warren’s recommendations and on December 9, 2020, Senators Warren, Dick Durbin (D-IL), and Sheldon Whitehouse (D-RI) introduced the…
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This is One of the Reasons I Prefer Not to Arbitrate
Jeffrey N. Schatzman | Miami, Florida | October 27, 2020
On September 17, 2020, the Eleventh Circuit Court of Appeals issued its opinion in the case of Gherardi v. Citigroup Glob. Markets Inc., No. 18-13181 (11th Cir. Sep. 17, 2020). The case came before the 11th Circuit after the District Court granted Citigroup’s motion for vacatur, where it sought to vacate the nearly $4 million…
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The 11th Circuit Clarifies that New Value Need Not Remain Unpaid to Constitute a Valid Preference Defense
Jeffrey N. Schatzman | Miami, Florida | August 23, 2018
In Kaye v. Blue Bell Creameries, Inc. (In re BFW Liquidation, LLC), 2018 U.S. App. LEXIS 22504 * | __ F.3D __ | 2018 WL 3850101 (11th Cir 2018), decided on August 14, 2018, the Eleventh Circuit Court of Appeals made clear that any reliance on its decision in Charisma Investment Company, N.V. v. Airport Systems,…
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Better Think Twice Before You Tell Your Debtor Client to Pay You with a Credit Card
Jeffrey N. Schatzman | Miami, Florida | April 13, 2018
If you represent individual debtors and take credit cards for payment of your fees, you might want to re-think that policy. On March 30, 2018, the Eleventh Circuit Court of Appeals in Cadwell v. Kaufman, Englett & Lynd, PLLC, Case No. 17-10810, reinstated a suit against Kaufman, Englett & Lynd (“KEL”) for violation of 11…
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