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Secured Lender

Indiana Supreme Court Curtails Attempted Expansion of Exceptions to General Rule Regarding Successor Liability in Corporate Transactions

The Indiana Supreme Court recently issued an opinion in New Nello Operating Co., LLC v. CompressAir that clarifies the elements to be met when establishing that a buyer of a business will be liable as the successor to the obligations of the target.  Now, to fall under either of two exceptions to the…

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Secure and Fair Enforcement (SAFE) Banking Act Passes U.S. House…Again

On Monday, April 19, 2021, the U.S. House of Representatives passed the Secure and Fair Enforcement Banking Act of 2021 (the “Act”).  The legislation was reintroduced in Congress in late March through a bipartisan effort involving members of both the U.S. House of Representatives (House) and the…

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Indiana Supreme Court Declines (1) to Clarify Meaning of “Tolled Interest” and (2) to Further Protect Stimulus Payments under its 2020 Emergency COVID-19 Pandemic Orders

In a pair of decisions issued March 19, 2021, the Indiana Supreme Court declined (1) to clarify the meaning of "tolled interest," and (2) to further protect stimulus payments under its 2020 emergency COVID-19 pandemic orders.

First March 19 Order

Specifically, in its first March 19 order, the Court…

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CFPB Issues Finalized Changes To Regulation F To Implement The Fair Debt Collection Practices Act

On October 30, 2020, the Consumer Financial Protection Bureau (“CFPB”) issued a final rule (“Final Rule”) that amends Regulation F, 12 C.F.R. part 1006, which implements the Fair Debt Collection Practices Act, 15 U.S.C. 1692, et seq. (“FDCPA”). 

The Final Rule addresses communications…

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IMPORTANT LIBOR UPDATE - Certain Transition Dates Extended to 2023

On November 30, 2020, the Board of Governors of the Federal Reserve System, the OCC, and the FDIC released a statement that details the projected timeline of the transition away from the U.S. Dollar London Interbank Offered Rate (“LIBOR”). The statement indicated that the administrator of LIBOR has…

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