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Supreme Court to Focus Legal Spotlight on Spousal Guaranty Issues
Spousal guaranties are about to receive additional scrutiny now that the United States Supreme Court has decided to grant certiorari to a decision by the U.S. Court of Appeals for the Eighth Circuit regarding whether a spousal guarantor is an “applicant” entitled to bring an action under the Equal Credit Opportunity Act (ECOA) and related implementing regulation (Regulation B). The focus on spousal guaranties by the Supreme Court will create more awareness among borrowers and their counsel about this potential guarantor defense, and provide a reminder to lenders to make sure that their internal underwriting policies and guarantor forms are in compliance. Additionally, it is a good opportunity for lenders to update their forms to protect against the most common guarantor defenses. This article explores the Regulation B split over who can be defined as an applicant and provide guidance on compliance with ECOA and Regulation B on spousal guaranty issues.
The Genesis of the ECOA and Regulation B
Law Firms are Reducing Redundant Real Estate by Bringing Support Services Back to the Office
A trend analysis of the benefits and challenges of bringing back administrative, word processing and billing services to law offices.
Bankruptcy Sales: Finding a Diamond In the Rough
There is no efficient market for the sale of bankruptcy assets. Inefficient markets yield a transactional drag, potentially dampening the ability of debtors and trustees to maximize value for creditors. This article identifies ways in which investors may more easily discover bankruptcy asset sales.
Bit Parts
Summary Judgment Denied Defendant in Declaratory Action by Producer of To Kill a Mockingbird Broadway Play Seeking Amateur Theatrical Rights
Risks of “Baseball Arbitration” in Resolving Real Estate Disputes
“Baseball arbitration” refers to the process used in Major League Baseball in which if an eligible player's representative and the club ownership cannot reach a compensation agreement through negotiation, each party enters a final submission and during a formal hearing each side — player and management — presents its case and then the designated panel of arbitrators chooses one of the salary bids with no other result being allowed. This method has become increasingly popular even beyond the sport of baseball.
Disconnect Between In-House and Outside Counsel
'Disconnect Between In-House and Outside Counsel is a continuation of the discussion of client expectations and the disconnect that often occurs. And although the outside attorneys should be pursuing how inside-counsel actually think, inside counsel should make an effort to impart this information without waiting to be asked.