Articles from Foster Swift Collins & Smith

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Michigan House Considers Bills Proposing Adoption of the Uniform Commercial Real Estate Receivership Act

Submitted by Anonymous (not verified) on Wed, 11/01/2017 - 18:00

Two proposed bills are working their way through the Michigan Legislature that would significantly impact state law pertaining to commercial real estate receiverships. Read More ›
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Can Same-Sex Couples Own Real Property as Tenants by the Entirety in Michigan?

Submitted by Anonymous (not verified) on Tue, 09/05/2017 - 19:00

Two years have passed since the United States Supreme Court passed down a 5-4 decision in Obergefell v. Hodges which held that same-sex couples have a fundamental right to marry under both the Due Process and Equal Protection Clauses of the Fourteenth Amendment. Read More ›

Supreme Court to Address Circuit Split Regarding Debt Re-Characterization Claims

Submitted by Anonymous (not verified) on Tue, 09/05/2017 - 19:00

On June 26, 2017, the Supreme Court granted certiorari in PEM Entities v. Levin to decide whether bankruptcy courts should apply a federal multi-factor test or an underlying state law when deciding whether to re-characterize a debt claim as equity. The Court’s decision to grant cert in this case should resolve a circuit split and clarify the law as it relates to re-characterizing corporate debt as equity. Read More ›

Can Same-Sex Couples Own Real Property as Tenants by the Entirety in Michigan?

Submitted by Anonymous (not verified) on Tue, 09/05/2017 - 19:00

Two years have passed since the United States Supreme Court passed down a 5-4 decision in Obergefell v. Hodges which held that same-sex couples have a fundamental right to marry under both the Due Process and Equal Protection Clauses of the Fourteenth Amendment. Read More ›

Supreme Court to Address Circuit Split Regarding Debt Re-Characterization Claims

Submitted by Anonymous (not verified) on Tue, 09/05/2017 - 19:00

On June 26, 2017, the Supreme Court granted certiorari in PEM Entities v. Levin to decide whether bankruptcy courts should apply a federal multi-factor test or an underlying state law when deciding whether to re-characterize a debt claim as equity. The Court’s decision to grant cert in this case should resolve a circuit split and clarify the law as it relates to re-characterizing corporate debt as equity. Read More ›

Bankruptcy Court Denies Creditors Request for Relief from Automatic Stay to Arbitrate its Claims and Effectuate Setoff and Recoupment Rights

Submitted by Anonymous (not verified) on Tue, 07/18/2017 - 19:00

One of the primary reasons that most debtors seek bankruptcy relief is the automatic stay, which prevents creditors from pursuing collection efforts outside of the bankruptcy proceedings. Creditors can, however, seek relief from the automatic stay from the bankruptcy court under certain circumstances. Read More ›

Bankruptcy Court Denies Creditors Request for Relief from Automatic Stay to Arbitrate its Claims and Progress Setoff and Recoupment Rights

Submitted by Anonymous (not verified) on Tue, 07/18/2017 - 19:00

One of the primary reasons that most debtors seek bankruptcy relief is the automatic stay, which prevents creditors from pursuing collection efforts outside of the bankruptcy proceedings. Creditors can, however, seek relief from the automatic stay from the bankruptcy court under certain circumstances. Read More ›

Supreme Court Rules that Debt Collector’s Attempt to Collect Time Barred Claim in Chapter 13 Bankruptcy Case Does not Violate Fair Debt Collection Practices Act

Submitted by Anonymous (not verified) on Wed, 06/07/2017 - 19:00

What happens in a Chapter 13 bankruptcy case when a creditor files a proof of claim involving a debt for which the statute of limitations to collect the debt has run? More specifically, does the filing of such a claim violate the Fair Debt Collection Practices Act (the “Act”)? That’s the issue considered by the U.S. Supreme Court in its recent decision in the case of Midland Funding, LLC v. Johnson. 1 Read More ›

Supreme Court Rules that Debt Collector’s Attempt to Collect Time Barred Claim in Chapter 13 Bankruptcy Case Does not Violate Fair Debt Collection Practices Act

Submitted by Anonymous (not verified) on Wed, 06/07/2017 - 19:00

What happens in a Chapter 13 bankruptcy case when a creditor files a proof of claim involving a debt for which the statute of limitations to collect the debt has run? More specifically, does the filing of such a claim violate the Fair Debt Collection Practices Act (the “Act”)? That’s the issue considered by the U.S. Supreme Court in its recent decision in the case of Midland Funding, LLC v. Johnson. 1 Read More ›

Reserve it or Lose it: Sixth Circuit BAP Reverses Bankruptcy Court on Issue of Whether Trustee Abandoned Asset in Chapter 7 Case

Submitted by Anonymous (not verified) on Tue, 05/16/2017 - 19:00

In a recent decision, the Bankruptcy Appellate Panel of the Sixth Circuit (the “Court”) considered the issue of asset “abandonment” in a Chapter 7 case[1]. The Court reversed the bankruptcy court’s decision to allow the Chapter 7 trustee to compromise a claim that the debtor argued the trustee had abandoned. [1] In re: Wayne L. Wright, Docket No. 16-8019 (6th Cir. BAP, April 17, 2017).

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