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Bankruptcy, Insolvency and Creditors’ Rights
It is still so Madden-ing!
We have posted twice before on the Second Circuit Court of Appeals’ incorrect decision in Madden v. Midland Funding, LLC, 786 F.3d 246 (2d Cir. 2015). There, the court of appeals reversed a district court ruling and refused to enforce a Delaware choice of law provision citing the public policy inherent in the New York criminal usury statute.
Is eRecording Secure? Recognizing the Risks, Deflating the Myths
When it comes to the electronic recording and notarization of documents, Kentucky has historically been on the outside looking in, while neighboring states have embraced the efficiency and cost-saving benefits of eRecording. But that may...
Kentucky To Consider E-Recording Reforms
The past two decades have seen a paradigm shift in the way states sign, record, and notarize documents. Once hindered by paper document and "wet" signature requirements, the modern recordation process in many states has...
SCOKY Drops the Ball in Unifund
The Kentucky Supreme Court offered a new interpretation of Kentucky's usury statute, KRS 360.010, in a collection case involving a credit-card receivable. Unfortunately, SCOKY interpreted a statute that did not apply.Harrell, a consumer, had a...
Comer Introduces Industrial Hemp Bill
Kentucky Representative (and former agriculture commissioner) James Comer introduced new legislation (H.R. 3530) to reduce the burden of regulations and statutes applicable to industrial hemp, an industry which is growing by leaps and bounds in...
Kentucky General Assembly Halves Judgment Interest Rate
The Kentucky legislature amended KRS 360.040, which governs the interest rate on money judgments. Previously, money judgments bore interest at 12% - the new rate is 6%, which is more in line with other states.Importantly...
Lis Pendens Saves Equitable Mortgage
The Kentucky Court of Appeals recently affirmed in Brooks v. J.P.Morgan Chase Bank, N.A. that an equitable mortgage established in litigation has priority over a pendente lite mortgage. The Lender filed an action to correct...
The Power Of Three Overcomes A Putative Debtor Who Can Count To Twelve
The Sixth Circuit BAP has reversed the denial of a motion to dismiss an involuntary petition. A single petitioning creditor initiated the case of In re Zenga based on the putative debtors' responses to interrogatories...