Court of Appeals Affirms Payment of Upset Bid Amount to Foreclosing Lender

​Recently the North Carolina Court of Appeals in In re:  Ballard (N.C. Ct. App. COA15-475, March 15, 2016) held that a foreclosing lender in North Carolina was not under any duty to bid the same amount at a resale of foreclosed property as it did at ...[Read more]

Published: 8/5/2016 | 0  Comments | 0  Links to this post

Fraudulent Conveyance Scheme Renders Debt Nondischargeable in Bankruptcy

​On May 16, 2016, the U.S. Supreme Court issued its opinion in Husky International Electronic, Inc. v. Ritz. The opinion is a favorable development for creditors because it expands the types of fraudulent conduct that can prevent a debtor from disch ...[Read more]

Published: 5/25/2016 | 0  Comments | 0  Links to this post

Foreclosure Protection for Servicemembers Extended by Congress

In 2008, Congress passed legislation which extended the protection from foreclosure actions for active duty servicemembers up to 9 months after the end of the period of military service.  In 2012, Congress extended that time to 12 months after the e ...[Read more]

Published: 4/27/2016 | 0  Comments | 0  Links to this post

The EMV Liability Shift - What’s Next?

​Over the past several years, the major credit card networks (VISA and MASTERCARD) have begun the process of converting credit card usage in the United States to the EMV standard.  The EMV standard is a method of preventing credit card fraud by mean ...[Read more]

Published: 11/30/2015 | 0  Comments | 0  Links to this post

North Carolina General Assembly Adopts Protection for Tenants in Foreclosure Actions.

Session Law 2015-178 reinstates many of the provisions of the Federal “Protecting Tenants in foreclosure act of 2009” which expired December 31, 2014.The NC legislation is applicable to residential property containing less than 15 units, including s ...[Read more]

Published: 10/16/2015 | 0  Comments | 0  Links to this post

North Carolina's Anti-Deficiency Statute for Seller Financed Real Estate

The North Carolina General Statutes prohibit a creditor in a seller-financed purchase money real estate transaction (where the seller of the land and the creditor providing financing for the sale are the same person) from obtaining a judgment agains ...[Read more]

Published: 10/1/2015 | 0  Comments | 0  Links to this post

Sometimes You Want To Be Ordinary: Restructuring Payment of Past Due Accounts to Avoid Bankruptcy Preference Liability

Because bankruptcy filings were up over the past several years, debtors and trustees in those cases are now at the point of filing preference lawsuits in bankruptcy courts across the country.  Relying on Section 547(b) of the Bankruptcy Code, plaint ...[Read more]

Published: 9/25/2015 | 0  Comments | 0  Links to this post

Determination of Clerk at Foreclosure Hearing is Binding in Subsequent Litigation

​In Funderburk v. Chase, COA14-1258 (N.C. Ct. App. 2014), the North Carolina Court of Appeals held that the issues decided by the Clerk of Court are binding in subsequent litigation involving the same parties on the same loan (such as a counterclaim ...[Read more]

Published: 9/9/2015 | 0  Comments | 0  Links to this post

Bank Boards and Corporate Officers Review your Policies and Procedures: Business Judgment Rule Protections May Be Loosening

​A recent decision from the Fourth Circuit, Federal Deposit Insurance Corporation v. Rippy, No. 14-2078 (4th Cir. Aug. 18, 2015), may signal a weakening of the business judgment rule’s long-standing protections for corporate officers.  The case surr ...[Read more]

Published: 9/2/2015 | 0  Comments | 0  Links to this post

Sweet Potatoes Not So Sweet After All - Growers Not Exempt from PACA

​On August 18, 2015, the United States Court of Appeals for the Fourth Circuit affirmed decisions from the United States District Court and the United States Bankruptcy Court for the Eastern District of North Carolina dismissing Perishable Agricultu ...[Read more]

Published: 8/18/2015 | 0  Comments | 0  Links to this post
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