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HTMLMichigan Receivership Rules Get a Tune-Up
Scott H. Hogan, Patricia J. Scott; Foster, Swift, Collins & Smith, P.C.;
Legal Alert/Article
September 1, 2014, previously published on August 26, 2014
Effective May 1, 2014, the Michigan Supreme Court adopted new rules which significantly change how receiverships are administered. The changes to Michigan Court Rules 2.621 and 2.622 were made at the recommendation of the Receivership Committee of the Business Law Section of the State Bar of...

 

Adobe PDFWho Will Think of the Tenants: Split in Authority Regarding the Interplay Between Bankruptcy Code Sections 363(f) and 365(h)(1)(A)
James H. Haithcock; Burr & Forman LLP;
Legal Alert/Article
August 29, 2014, previously published on August 25, 2014
A useful tool granted to trustees (and debtors-in-possession) in bankruptcy is the ability to assume or reject leases. The trustee can exploit this power to the estate's economic advantage, either assuming or rejecting the lease, in an attempt to maximize the value of the estate. For the lessee of...

 

HTMLShould You Rely On The IRS’ Thoughts Today When Planning For Your Spouse’s Future?
Michael D. Shelton; Smith Haughey Rice & Roegge, P.C.;
Legal Alert/Article
August 29, 2014, previously published on August 18, 2014
For many people retirement assets such as Individual Retirement Accounts (IRA) make up the largest portion of their wealth. IRAs are the assets that you hope to consume during your retirement years. You and your spouse worked hard to save these assets and, in many cases, you probably consider them...

 

HTMLBeyond the Rent Roll - Retail Lease Agreements
Heather Sue Nason; Rogers Towers, P.A.;
Legal Alert/Article
August 28, 2014, previously published on August 19, 2014
Commercial mortgage lenders of non-owner occupied property need to be adept at reviewing leases to protect themselves from risk. Although the rent roll is a useful tool, some lenders learned during the economic downturn that it was a mistake to rely solely on the rent roll for a picture of the...

 

HTMLCourt Of Appeals Approves Baltimore City’s "Quick-Take" Condemnation
Edward J. Levin; Gordon Feinblatt LLC;
Legal Alert/Article
August 27, 2014, previously published on August 2014
In Makowski v. Mayor & City Council of Baltimore, 94 A.3d 91 (Md. June 24, 2014), the Court of Appeals affirmed a decision of the Circuit Court for Baltimore City which authorized the City to proceed with the “quick-take” condemnation of property within the Middle East community...

 

HTMLGreen Building Code Changes in Baltimore City Could Impact Building Modifications
Margaret M. Witherup; Gordon Feinblatt LLC;
Legal Alert/Article
August 27, 2014, previously published on August 2014
A bill now under consideration by the Baltimore City Council could make it more difficult to make modifications of many existing non-residential and multifamily buildings and to obtain exceptions based on cost, feasibility, or historic nature of the building.

 

HTMLCovenant Limiting Development to One House per Lot Is Still In Effect and Had Not Been Waived
Edward J. Levin; Gordon Feinblatt LLC;
Legal Alert/Article
August 27, 2014, previously published on August 2014
The Court of Special Appeals recently held that homeowners could not build a second house on the land that they owned due to an 80 year old plat and a set of covenants despite their claims that the same issue had been resolved in prior litigation and that the homeowners association had waived the...

 

HTMLGuarantor May Be Liable for Payments Made before the Date of the Guarantor’s Release If Those Payments Are Set Aside as Fraudulent Conveyances
Lawrence D. Coppel; Gordon Feinblatt LLC;
Legal Alert/Article
August 27, 2014, previously published on August 2014
In the case of In re MS Grand, Inc., No. AP 12-1481, 2014 WL 2795239 (Bankr. E.D. Va. June 19, 2014), a landlord was sued by a bankruptcy trustee who claimed that rent payments made prior to bankruptcy should be avoided as fraudulent transfers under the Maryland Uniform Fraudulent Conveyance Act...

 

HTMLForeclosure Sale Ratified Despite Claim of an Offer Higher Than the Auction Price
Edward J. Levin; Gordon Feinblatt LLC;
Legal Alert/Article
August 27, 2014, previously published on August 2014
In Johnson v. Nadel, 94 A.3d 149 (Md. Ct. Spec. App. June 25, 2014), the Court of Special Appeals ratified a residential foreclosure sale notwithstanding the borrower’s contention that a third party offered to pay more than the foreclosing lender bid at the auction sale.

 

HTMLMortgagees Face Increased Penalties for Failure to Remedy Municipal Violations on New Jersey Properties in Foreclosure
Edward W. Chang, Francis X. Crowley, Kevin C. Rakowski, Wayne Streibich; Blank Rome LLP;
Legal Alert/Article
August 27, 2014, previously published on August 2014
Effective July 14, 2014, New Jersey Assembly Bill A347 amended N.J.S.A. 46:10B-51, a statutory provision that allows municipalities to impose penalties on creditors for failure to remedy municipal ordinance violations.

 


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