Category Archives: Memorandum

ASSIGNMENT FOR BENEFIT OF CREDITORS

Simon PLC Attorneys & Counselors – October 2020 Memorandum ASSIGNMENT FOR BENEFIT OF CREDITORS Bloomfield Hills, Michigan – An assignment for benefit of creditors (“ABC”) is an alternative to formal bankruptcy proceedings and is governed by state law (N.B. ABC statutes and laws vary from state to state.  There is minimal case law regarding ABCs, […]

PUBLICATION OF NEW AND EXPECTED CFPB FINAL DEBT COLLECTION RULES IN OCTOBER 2020

Simon PLC Attorneys & Counselors – September 2020 Memorandum PUBLICATION OF NEW AND EXPECTED CFPB FINAL DEBT COLLECTION RULES IN OCTOBER 2020 Bloomfield Hills, Michigan – In July 2020, the Consumer Financial Protection Bureau (CFPB) announced that it plans to publish final debt collection rules in October 2020.   The announcement was released after the […]

UPDATE ON MICHIGAN AND INDIANA – ANSWER TO COMPLAINT AND DEFAULT ENTRY DEADLINES

Simon PLC Attorneys & Counselors – August 2020 Memorandum UPDATE ON MICHIGAN AND INDIANA – ANSWER TO COMPLAINT AND DEFAULT ENTRY DEADLINES Bloomfield Hills, Michigan – When we rang in 2020 seven months ago, few of us predicted the year it would turn out to be.  And who knows what the next five months will […]

UPDATE ON OHIO DEBTOR COLLECTION PRACTICES – REQUIRED NOTICE TO DEBTORS FOR COLLECTION OF DEBTS INVOLVING RESIDENTIAL REAL ESTATE AS COLLATERAL

Simon PLC Attorneys & Counselors – July 2020 Memorandum UPDATE ON OHIO DEBTOR COLLECTION PRACTICES – REQUIRED NOTICE TO DEBTORS FOR COLLECTION OF DEBTS INVOLVING RESIDENTIAL REAL ESTATE AS COLLATERAL Bloomfield Hills, Michigan –  In March 2019 the state of Ohio enacted new statutory provisions requiring certain notices be given to debtors before the collection […]

PANDEMIC EVENT ENDORSEMENTS – CAN COVERAGE BE TRIGGERED?

Simon PLC Attorneys & Counselors – June 2020 Memorandum PANDEMIC EVENT ENDORSEMENTS – CAN COVERAGE BE TRIGGERED? Bloomfield Hills, Michigan – Just over three months ago, as a business owner, you were enjoying the fruits of your labors and an economy driving retail and production.  Business was good. Record sales. New customers.  New employees hired. […]

CHAPTER 11 BANKRUPTCY – SMALL BUSINESS REORGANIZATION ACT – SUBCHAPTER V

Simon PLC Attorneys & Counselors – May 2020 Memorandum CHAPTER 11 BANKRUPTCY – SMALL BUSINESS REORGANIZATION ACT – SUBCHAPTER V Bloomfield Hills, Michigan – The Small Business Reorganization Act of 2019 (“SBRA” or the “Act”) became effective on Feb. 19, 2020. This revision to the United States Bankruptcy Code is an effort to reduce the […]

COVID-19 EVICTION AND FORECLOSURE MORATORIUMS

Simon PLC Attorneys & Counselors – Supplemental Interim April 2020 Memorandum COVID-19 EVICTION AND FORECLOSURE MORATORIUMS Bloomfield Hills, Michigan – The COVID-19 outbreak has impacted almost every part of our daily lives, and court proceedings and enforcement actions are not an exception.  Many of the states have implemented restrictions on evictions and foreclosures during this […]

SBA Paycheck Protection Program (PPP) Loans under the CARES Act

Simon PLC Attorneys & Counselors – Supplemental Interim April 2020 Memorandum SBA Paycheck Protection Program (PPP) Loans under the CARES Act Bloomfield Hills, Michigan – In response to the COVID-19 crisis, the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) provides for the U.S. Small Business Administration (SBA) to authorize fully-guaranteed Paycheck Protection Program […]

Complying with the 2018 Amendment to the Michigan Marketable Record Title Act (MRTA) (2018 PA 572)

Simon PLC Attorneys & Counselors – February 2020 Memorandum Complying with the 2018 Amendment to the Michigan Marketable Record Title Act (MRTA) (2018 PA 572) Bloomfield Hills, Michigan – The MRTA (the Act) was enacted in 1945 with the intent to “clean up” titles by eliminating interests in land more than 40 years old from […]

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