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Tag Archives: Creditor’s Rights

Creditor’s Rights – Equipment Leases – Default – Insolvency – FRE 408 (access required)

A Richmond U.S. District Court grants summary judgment to plaintiff financial services company against a defendant who admits defaulting on multiple equipment leases, for a balance due of over $1.4 million. Plaintiff company alleges defendant has not made monthly payments ...

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Creditor’s Rights – Promissory Note – Receiver Suit – Jurisdiction (access required)

A receiver appointed pursuant to an FTC enforcement action against a fraudulent debt counseling scheme wins summary judgment in its action to recover receivership property, payment on a promissory note, from a business associate who borrowed $1.34 for a restaurant ...

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Creditor’s Rights – Garnishment Exemption – Interest Payments (access required)

A Norfolk Circuit Court denies a judgment debtor’s garnishment exemption claim contending that the creditor, Investor’s Financial Services, improperly charged him a higher interest rate than that authorized by Va. Code § 6.1-330.54, and impermissibly charged compound interest on the ...

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Creditor’s Rights – Foreclosure Sale – ‘Splitting’ Note From Deed (access required)

A homeowner cannot set aside the foreclosure sale of her Manassas home by suing defendant creditor alleging she is the only party to this matter who can prove legal and equitable ownership in the property, and defendants’ foreclosure proceeding violated ...

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Creditor’s Rights – Fair Debt Act – Foreclosure – Securitized Mortgages (access required)

An Alexandria U.S. District Court dismisses plaintiffs’ claim alleging violations of the Fair Debt Collection Practices Act and other state law claims against defendant creditor, the substitute trustee and the mortgage servicer, in an effort to challenge defendants’ authority to ...

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Creditor’s Rights – Furnishings Not ‘Connected’ To Property (access required)

Furnishings for a bankrupt hotel are not “improvements” that can be claimed under a mechanic’s lien, and a Harrisonburg U.S. District Court reverses a bankruptcy court order allowing the furniture to be claimed in a supplier’s mechanic’s lien. Summit argues ...

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Creditor’s Rights – Bank Holding Company Act – TILA – Equity Line – Subordination Policy (access required)

A couple who wanted to refinance their primary mortgage can sue their home equity-line lender under the Bank Holding Company Act for its alleged blanket policy of refusing to subordinate its loan to a new loan from another lender; an ...

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Creditor’s Rights – Farm Produce – PACA Trust (access required)

A seller of farm produce has a trust on sale proceeds under the Perishable Agricultural Commodities Act, but the 4th Circuit remands the case for reconsideration of the amount the district court required for payment. Two sellers of perishable agricultural ...

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Creditor’s Rights – Foreign Judgment – Personal Jurisdiction (access required)

Where a Virginia judgment debtor’s contacts with California were limited to placing orders from Virginia for merchandise to be shipped from California to Virginia, a California court did not have personal jurisdiction over the Virginia debtor, and a Fairfax Circuit ...

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