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McGlinchey Stafford

Ohio Supreme Court Clarifies Disclosure Duties Between Creditors and Sureties

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In a recent opinion, the Supreme Court of Ohio definitively held that a creditor does not have an affirmative duty to disclose facts that materially increase risk to a surety—and nor does a surety have a duty to disclose to...more

A&O Shearman

Two Appellate Courts Weigh “Uptier” Transactions Under New York Law

A&O Shearman on

On December 31, 2024, the United States Court of Appeals for the Fifth Circuit and the New York Appellate Division, First Department, both issued decisions evaluating the validity of so-called “uptier” transactions under New...more

Lowenstein Sandler LLP

Fifth Circuit Rejects Non-Pro Rata Uptier Transaction From Serta Simmons; Landmark Ruling May Have Chilling Effect on Similar...

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On December 31, a unanimous three-judge panel of the U.S. Court of Appeals for the Fifth Circuit (the Court or the Fifth Circuit) held that the controversial $200 million Serta Simmons Bedding (SSB) uptier financing...more

Adams & Reese

Lenders: Keep Your Original Promissory Notes Safe; Loan Purchaser Fails to Recover on Note Claims in Florida Decision

Adams & Reese on

A recent opinion out of the Florida Fifth District Court of Appeal makes clear that the failure of a lender or its successor in interest to introduce and authenticate original promissory notes at trial may result in the...more

Procopio, Cory, Hargreaves & Savitch LLP

California Appellate Court Invalidates the Ability to Obtain Default Interest on Loans That Have Not Matured

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When a late fee is assessed upon the entire principal balance of the loan, is it invalid when the loan is not fully matured? This question, so important to lenders, has been addressed in California after the conclusion of...more

Bradley Arant Boult Cummings LLP

A Good Day for Lenders: Texas Supreme Court Rules that Lenders Still Entitled to Equitable Subrogation for Non-compliant Home...

Bradley Arant Boult Cummings LLP on

On April 24, 2020, the Texas Supreme Court upheld a lender’s right to equitable subrogation for non-compliant home equity loans, ruling that lenders who fail to cure within the statutorily mandated 60-day period may recoup...more

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