Category Archives: Memorandum

Simon PLC Attorneys & Counselors – November 2020 Memorandum CHANGES IN MICHIGAN RECEIVERSHIP LAW PROVIDE REMEDY FOR MARIJUANA BUSINESSES AND PROTECTION FOR LENDERS Bloomfield Hills, Michigan –Frank R. Simon, the founder and managing member of Simon PLC Attorneys & Counselors, is frequently appointed as Receiver by courts throughout Michigan.  The firm has a significant practice […]

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, […]

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 […]

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 […]

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 […]

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. […]

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 […]

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 […]

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 […]

Simon PLC Attorneys & Counselors – March 2020 Memorandum The Advantage of Indiana Judgment Liens Bloomfield Hills, Michigan – A benefit for creditors seeking to enforce judgments in Indiana is the tool known as the judgment lien.  Many of the states in which the Firm practices also provide for judgment liens, but Indiana has two […]