Sep. 6, 2022

SECURED LENDERS AND SECURED VENDORS BEWARE

By Charles M. Tatelbaum

A NEW SUPREME COURT RULING HOLDS THAT IN FLORIDA, THE DEBTOR’S NAME ON A FINANCING STATEMENT MUST BE EXACTLY CORRECT OR THE SECURITY INTEREST MAY BE DECLARED INVALID

Since the mid-1960s, lenders, and vendors in Florida have been able to perfect security interests in personal property collateral in order to help insure repayment of debt. Under the Uniform Commercial Code (UCC), which is contained in Chapters 671 through 679 of the Florida Statutes, three actions need to occur in order for a security interest to be perfected – (1) an agreement in writing creating the security interest (the security agreement), (2) consideration passing between the parties, and (3) in most situations, the filing of a financing statement (UCC-1 form) with the Florida Secured Transactions Registry. The security interest is perfected when the last of the three items occur.

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Mar. 3, 2017

Ignorance Is Not Bliss: Demystifying Executory Contracts in Bankruptcy Cases

By Charles M. Tatelbaum

An executory contract can create havoc for the unsuspecting counterparty. 

Most businesses are (reluctantly) required to deal with customers, suppliers and counterparties to agreements that enter bankruptcy proceedings, yet there is a great lack of knowledge as to how the concept of an executory contract can create havoc for the unsuspecting creditor/counterparty. Recent litigation in Delaware involving the sporting goods retailer Eastern Outfitters LLC (Eastern Mountain Sports and Bob’s Stores) points to some of the issues.

 

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Jan. 24, 2017

Lawyer Up: As Retail Bankruptcies Increase, Creditors Must Be Vigilant

By Charles M. Tatelbaum

Virtually no attention has been paid to what will soon be a big problem

While much has been written about the future of brick-and-mortar retailing as a result of the large number of retail bankruptcies during 2016 and even during the first weeks of 2017, virtually no attention has been paid to what will be a significant problem for creditors of those retailers that have sought bankruptcy court protection—even if some of the retail locations remain open.

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Sep. 6, 2016

ASSET PROTECTION PLANNING HAS SUFFERED A SIGNIFICANT SETBACK CREATING A MEANINGFUL OPPORTUNITY FOR CREDITORS

By Charles M. Tatelbaum

A recent decision and opinion by Bankruptcy Judge Robert A. Mark of the US Bankruptcy Court for the Southern District of Florida has created a potential nightmare and morass for those who seek to use asset protection vehicles as part of an overall estate plan or independently, and, at the same time, has created a new opportunity for creditors seeking to recover unpaid debts.

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Jan. 6, 2016

CONSUMER AND BUSINESS ALERT – BE CAREFUL OF THE FINE PRINT EVEN IN THE MOST INNOCULOUS AGREEMENTS

By Charles M. Tatelbaum

In our day-to-day business and personal activities, we often are asked to sign service and other innocuous agreements, both on line and in hard copy with clients and customers, where little time is spent reviewing exactly what is contained in the agreement. While in most cases, the significance of the agreements may not seem important at the time, should an issue arise where a dispute has been created, the so-called “fine print” can create innumerable problems and issues.

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Fresh


Grand jury’s damning report on public schools is proof that parental choice is best

As Published in the Miami Herald

The recent grand jury report findings only confirm what parents already know — the system is broken.

Sadly, the report’s release is just another incrimination of the Broward County School Board. The grand jury consisted of 18 volunteer members of our community from Miami-Dade, Broward and Palm Beach voter rolls representing a full array of our diverse community. The investigation included a review of thousands of documents with more than 150 witnesses providing testimony. It culminated in several recommendations, including the recommendation that Gov. Ron DeSantis replace four Broward County School Board members for incompetence and neglect of duty.

SECURED LENDERS AND SECURED VENDORS BEWARE

A NEW SUPREME COURT RULING HOLDS THAT IN FLORIDA, THE DEBTOR’S NAME ON A FINANCING STATEMENT MUST BE EXACTLY CORRECT OR THE SECURITY INTEREST MAY BE DECLARED INVALID

Since the mid-1960s, lenders, and vendors in Florida have been able to perfect security interests in personal property collateral in order to help insure repayment of debt. Under the Uniform Commercial Code (UCC), which is contained in Chapters 671 through 679 of the Florida Statutes, three actions need to occur in order for a security interest to be perfected – (1) an agreement in writing creating the security interest (the security agreement), (2) consideration passing between the parties, and (3) in most situations, the filing of a financing statement (UCC-1 form) with the Florida Secured Transactions Registry. The security interest is perfected when the last of the three items occur.

Will the Inflation Reduction Act of 2022 Affect Me?

A SPECIAL REPORT by Tripp Scott's Tanya Bower and Christine Yates

The "Inflation Reduction Act," H.R. 5376, (the "Act") was signed into law on August 16, 2022.  Despite the new title, the Act is essentially the scaled-down version of the previously proposed "Build Back Better Act."  Any time legislation is passed, particularly legislation containing tax provisions, the first question clients ask is often the same, "What does this mean for me?"  Below, please find our brief summary of the Act provisions.  For a more detailed discussion, CLICK HERE to read the article. Should you have any questions, please contact us to further discuss how the Act affects your situation specifically.

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