Topic: Lender Liability

Crumpton v. Stephens (In re Northlake Foods, Inc.)

Summarized by Richard Corbi, Lowenstein Sandler PC 1 week 5 days ago
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Citation: 
Case No. 12-15603 (11th Cir. May 6, 2013)
Ruling: 
The Eleventh Circuit Court of Appeals AFFIRMED the District Court ruling that AFFIRMED the Bankruptcy Court's ruling that the issuance of dividends to a debtor's shareholder to offset tax liability after an S corporation election was valid and not a ...
Judge(s): 
Tjoflat, Martin and Jordan
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Vassalle v. Midland Funding LLC

Summarized by Jim Morgan, Enterprise Law Group 9 weeks 5 days ago
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Citation: 
Vassalle, et al. v. Midland Funding, et al., Case Nos. 11-3814/3961/4016/4019/4021 (6th Cir. February 26, 2013)
Ruling: 
The Sixth Circuit Court of Appeals reversed the decision of the U.S. District Court for the Northern District of Ohio approving a class action settlement and certifying a nationwide class. The Sixth Circuit found that the settlement was not fair ...
Judge(s): 
Circuit Judges Moore and Cole; District Judge Rose, sitting by designation
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Hasbun v. Recontrust Co., N.A.

Summarized by Summer Chandler, McKenna Long & Aldridge LLP 13 weeks 3 days ago
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Citation: 
Case No. 11-15214 (11th Cir. February 13, 2013)
Ruling: 
The Eleventh Circuit AFFIRMED the order of the United States District Court for the Southern District of Florida dismissing the case of Eugenia Hasbun (“Plaintiff”) with prejudice. Specifically, the Eleventh Circuit held that the District Court did not ...
Judge(s): 
TJOFLAT, MARTIN and FAY
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Sherzer v. Homestar Mortgage Services

Summarized by Manuel Arreaza, U.S. Bankruptcy Court, District of Delaware 13 weeks 6 days ago
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Citation: 
Sherzer v. Homestar Mortgage Services, No. 11-4254 (3d Cir. Feb. 5, 2013)
Ruling: 
In precedential decision, the Third Circuit held that an obligor may exercise her right to rescind a loan subject to TILA by notifying the creditor in writing within the three-year statutory period, reasoning that the plain language of TILA § ...
Judge(s): 
Sloviter, Rendell and Hardiman, Circuit Judges
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Glazer v. Chase Home Finance LLC

Summarized by Michael Coury, Butler Snow O'Mara Stevens & Cannada PLLC 18 weeks 7 hours ago
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Citation: 
Glazer v. Chase Home Finance LLC, __ F.3d ___, Case No. 10-3416 ( 6th Cir. January 14, 2013)
Ruling: 
The Court affirmed the trial court's finding that the mortgage servicer was not a debt collector under the Fair Debt Collection Practices Act and that a subservicer who attempts to collect debts owed to another which was not in ...
Judge(s): 
Griffin and Kethledge, Circuit Judges; Thapar, District Judge
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The Unsecured Creditors Committee v. Community Bank (In re Stinson Petroleum Co., Inc.)

Summarized by Alexander Nicas, LL.M. in Bankruptcy Candidate, St. John's University School of Law 18 weeks 6 days ago
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Citation: 
No. 12-60234 (January 7, 2013)
Ruling: 
The Chapter 7 trustee could not prove that the defendant in a preference action (§ 547(b)) received more than they would have in a Chapter 7 liquidation because, according to Mississippi state law, the defendant was a fully secured creditor. ...
Judge(s): 
BARKSDALE, DENNIS, and GRAVES, Circuit Judges. (Per Curiam opinion).
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Bond Safeguard Insurance Co. v. Wells Fargo Bank, N.A.

Summarized by Jeremy Ficarola, University of Miami SOL Pro Bono Bankruptcy Clinic 21 weeks 3 days ago
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Citation: 
Case No. 11-15478 (11th Cir. December 21, 2012)
Ruling: 
Bond holder sureties ("Sureties") of property developers ("Debtors") lacked standing to bring certain claims against Wells Fargo Bank and Key Bank ("Lenders") because their claims are general in nature and could also be brought by the Debtors. Thus, post-filing general ...
Judge(s): 
Marcus, Pryor, Friedman (District Judge for the District of Columbia, sitting by designation)
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Ball Kelly, LLC v. Bank of America, N.A.

Summarized by Lars Fuller, Baker & Hostetler LLP 29 weeks 5 days ago
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Citation: 
Ball Kelly, LLC, d/b/a Taylor Kelly, LLC v. Bank of America, N.A., No. 11-3369 (10th Cir. 2012)
Ruling: 
10th Circuit affirmed the U.S. District Court for the District of Kansas dismissal of complaint for failure to state a claim where plaintiff subcontractor asserted claim for equitable lien in undisbursed loan proceeds held by construction lender. The 10th ...
Judge(s): 
Kelly, Baldock, and Ebel (10th Circuit).
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Rodriguez v. Countrywide Home Loans, Inc. (In re Rodriguez)

Summarized by Peter Ruggero, Ruggero Law Firm PC 34 weeks 6 days ago
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Citation: 
Case No. 11-40056 (5th Cir. September 14, 2012)
Ruling: 
Affirmed bankruptcy court's class action certification order providing for class of chapter 13 debtors and injunctive relief against home lender from collecting unauthorized fees.
Judge(s): 
Garza, Dennis, and Higginson
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Gale v. First Franklin Loan Services

Summarized by Eryk Escobar, United States Bankruptcy Court, Central District of California 36 weeks 5 days ago
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Citation: 
2012 U.S. App. LEXIS 18545 (9th Cir. 2012)
Ruling: 
The Court of Appeals for the Ninth Circuit (the "Court of Appeals") affirmed in part the District Court's ruling. The Court of Appeals held that First Franklin Loan Services ("Franklin") was not legally required to respond in its capacity ...
Judge(s): 
Sidney R. Thomas, M. Margaret McKeown, and William A. Fletcher, Circuit Judges. Opinion by Judge McKeown.
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