Simon PLC Attorneys & Counselors – March 2023 Memorandum Extending the running of the Statute of Limitations to allow time to work with a cooperative debtor. While in the course of litigating breach of contract actions, it is not uncommon for Defendants to reach-out in an attempt to negotiate a payment arrangement that avoids the […]
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Feb
Feb
Frank R. Simon, Court Appointed Receiver is pleased to offer the opportunity for buyers to purchase a dispensary business located in the heart of downtown Ann Arbor, Michigan, across from University of Michigan.
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Feb
Feb
Simon PLC Attorneys & Counselors – February 2023 Memorandum Who owns the funds in a joint bank account in Michigan? The “realities of ownership”. Does the addition of a joint tenant on a bank account vest not only the right to access every last dollar in the account but also vest all funds to the […]
Memorandum
Statute of limitations on an Illinois breach of an installment contract? You may have longer than you realize.
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Jan
Jan
Simon PLC Attorneys & Counselors – January 2023 Memorandum Statute of limitations on an Illinois breach of an installment contract? You may have longer than you realize. Troy, Michigan –Simon PLC is frequently approached by clients who discover an old file that hasn’t been worked in years. More often than not, the initial communication includes […]
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Dec
Dec
Simon PLC Attorneys & Counselors – December 2022 Memorandum Practice Tip: Homestead Property – Who Signs the Mortgage? Troy, Michigan – Your client is preparing to close on a commercial loan to support his new business venture. The bank requires a pledge of his residence as supplemental collateral. He calls you and asks, “Why does […]
04
Nov
Nov
Listing John W. Polderman, Court Appointed Receiver is pleased to offer the opportunity for buyers to purchase this large health care facility (former hospital/drug rehabilitation center) located in Albion, Michigan. The property contains three parcels with over 70,000 square feet of medical facility, set on 11.5 acres. The property is being offered at $1,900,000.00. If you […]
Memorandum
Aftermath of the NYS Court of Appeals Landmark Decision in Freedom Mortgage Corporation v. Engel
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Nov
Nov
Simon PLC Attorneys & Counselors – November 2022 Memorandum Aftermath of the NYS Court of Appeals Landmark Decision in Freedom Mortgage Corporation v. Engel Troy, Michigan – To overturn the impact of the New York Court of Appeals’ decision in Freedom Mtge. v. Engel, 37 N.Y.3d 1 (N.Y. 2021), the New York State Legislature introduced […]
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Oct
Oct
Troy, Michigan – A lessee of commercial equipment – copier/scanner, telephone or computer network, industrial equipment and other items not intended for personal or household use – stops making payments to the lessor due to some defect in the equipment and/or the failure or inability of the third-party vendor to service it. The lessee appears […]
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Sep
Sep
Simon PLC Attorneys & Counselors – September 2022 Memorandum Options Available To Marijuana Businesses and Distressed Assets in Default in Michigan Troy, Michigan – Michigan’s cannabis industry continues to experience high growth and demand. This has attracted a larger than ever number of grow facilities and product in the marketplace. But all is not rosy, […]
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Aug
Aug
Simon PLC Attorneys & Counselors – August 2022 Memorandum Important Developments Under Michigan’s New Uniform Assignment of Rents Act Troy, Michigan – When a lender makes a loan on income-producing real estate, the lender often requires the borrower to execute an “Assignment of Leases and Rents.” If it becomes necessary for the lender to institute […]