Last week, four federal agencies –– the Board of Governors of the Federal Reserve System, Financial Crimes Enforcement Network (FinCEN), Federal Deposit Insurance Corporation (FDIC), and Office of the Comptroller of the Currency–– along with the Conference of State Bank Supervisors issued a joint ...Read More
When times are good, the farmer-lender relationship usually is positive or perhaps even an afterthought for most farmers. However, when times are tough, the relationship can quickly become strained, especially when there are misunderstandings about the legal obligations owed under the terms of the ...Read More
With a view towards closing a deal, legal due diligence occurs when a business attorney collects and analyzes information from a legal perspective and then makes recommendations regarding any action that should be taken.
This typically occurs during the period between signing the transaction (e.g. ...Read More
When an individual files for bankruptcy, the typical result is that the individual’s debts to all of its creditors—including its bank creditors—are discharged. As a practical matter, this means that those obligations are essentially uncollectable as personal obligations of the bankrupt debtor. (The creditors ...Read More
Why 7A’s may get sold or transferred. Under what circumstances does this happen?
- 10 Tabs
Importance of avoiding glitches with SBA, such as “Paid in Full”
Handling transfers properly covers the gamut of 7A lending, from cradle to grave, because to do it right ...Read More
Thomas Jefferson famously advised, “[n]ever spend your money before you have it.” But as Mr. Jefferson (who was substantially indebted throughout much of his life) himself discovered, this advice is far easier for most people to give than to heed. Recent studies indicate that ...Read More