The recent U.S. economic turbulence has caused, and will probably continue to cause, challenges in lending. Borrowers, when pushed, will sometimes take actions that are not customary in the lending relationship. Below are some pre-collection and verification tips to mitigate a lender’s “loss of collateral.” It is important to recognize that when a borrower goes...

The Minnesota Legislature recently passed a law rendering all covenants not to compete in employment agreements signed on or after July 1, 2023. The new law makes any covenant not to compete contained in an employment (or independent contractor) agreement/contract void and unenforceable if the agreement/contract was executed on or after July 1, 2023. This...

A receivership is often labeled as the state court’s version of bankruptcy, though there are many differences between the two. The device of receivership is primarily a creditor’s remedy and is typically invoked in various circumstances including the collection of a money judgment, liquidation, and managing assets. A creditor is typically the party requesting the...