On March 13, 2023, the Washington Court of Appeals (“Court”) found, among other things, that “there is no authority” to support “that a holder of a note must possess the note on (or affix supporting documents to the note by)
Lender Liability and Loan Enforcement
The Lender Liability and Loan Enforcement blog, published by Duane Morris LLP, focuses on legal issues surrounding lender responsibilities and the enforcement of loan agreements. It covers topics such as judicial foreclosure procedures, borrower-lender disputes, appointment of receivers, bankruptcy implications for loan-related assets, and challenges to loan provisions like default interest and late fees. The blog analyzes court decisions and legal standards affecting lenders and borrowers, including contract breaches, damages claims, and regulatory compliance in various jurisdictions. It serves as a resource for understanding the evolving legal landscape in lender liability and loan enforcement matters.
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Latest from Lender Liability and Loan Enforcement
United States District Court for the Western District of Washington Bars Emotional Distress Damages in Borrower’s Breach of Mortgage Contract Claims
On February 13, 2023, the United States District Court for the Western District of Washington found that, under Washington law, a borrower could not recover emotional distress damages under breach of mortgage contract claims. The borrower had a mortgage contract…
Pennsylvania Superior Court Confirms That Common Law Standards May Apply To Requests For The Appointment Of A Receiver
On March 1, 2023, the Pennsylvania Superior Court reversed and remanded a trial court’s ruling that, among other things, denied the appointment of a receiver. SKW-B Acquisitions Seller C, LLC v. Stobba Residential Associates, L.P., et al., Nos. 73 EDA…
Debtor’s Alleged Ownership Interest in Cannabis-Related Companies Did Not Compel Dismissal of Bankruptcy Case, Rather Than Conversion to Chapter 7
By Duane Morris
In In re Roberts, the Bankruptcy Court of the District of Colorado held that a debtor’s alleged ownership interest in cannabis-related companies did not require a dismissal of the case and that a Chapter 7 trustee could administer the debtor’s…
California Court of Appeal Invalidates Default Interest Provision on Nonconsumer Loan
By Duane Morris
The California Court of Appeal recently held that default interest and late fee charges are unlawful when they are assessed against the full outstanding principal balance on a partially matured note, regardless of whether the loan is a consumer or…
Lender Liability Is Alive and Well, As Recent Bankruptcy Case Shows
By Duane Morris
In Bailey Tool & Mfg. Co. v. Republic Bus. Credit, LLC, the United States Bankruptcy Court for the Northern District of Texas clarified how aggressive a secured lender can be when enforcing its rights. The 145-page opinion details how a…