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Finance & Bankruptcy News

February 12, 2024

In this issue:



   Angry Landlord and Tenant   

Important Q&A for Commercial Landlords Whose Tenants Seek Bankruptcy
- Part Two

Scott H. Hogan

While Part One, outlined issues that commercial tenants typically face when their landlord files for bankruptcy and offered legal tips to tenants for how to address them, this article explores the other side of the coin and offers tips to landlords on how to address issues and questions they will have when a tenant declares bankruptcy...

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   Money Hidden Under Brick   

Michigan Supreme Court Says Excessive Interest is Still Illegal, No Matter What it is Called

Scott H. Hogan

In a decision handed down in 2023, the Michigan Supreme Court confirmed that excessive, illegal interest rates cannot be collected even if the loan document includes a clause stating that any of the fees and charges connected to the transaction should not be construed as illegal interest. This opinion has made it abundantly clear that an interest rate for a loan in Michigan that exceeds the statutory limit of 25 percent is still illegal and impermissible, even if those costs are not labelled as interest...

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   Walking down Icy Steps   

Michigan Court of Appeals Ruling Adds Challenges for Premises Owners and Their Insurers as to Premises Liability Cases

Litigation Team

A recent (January 4, 2024) Michigan Court of Appeals decision in a premises liability case will have major implications for premises owners and possessors in Michigan as well as their liability insurers. In a recently issued published opinion, the Court confirmed that the earlier Michigan Supreme Court ruling in Kandil-Elsayed v. F&E Oil (rendered in 2023) is to be applied retroactively to all pending premises liability cases...

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   Copyright Infringement Notice on Table   

Under the Bridge – The Rise of Copyright Trolls in the Intellectual Property Space

Lindsey M. Mead and Mikhail Murshak

Through tactical litigation practices, copyright trolls rely on copyright law to allege infringement and threaten major statutory damages upon unsuspecting defendants. The term “copyright troll” is an unflattering nickname for someone who manipulates the intellectual property (“IP”) laws to force a “toll” by way of a settlement payout on market participants.

Copyright trolls use technology to identify potential unintentional infringement activity and send template demand letters for payment...

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How Will the CTA Affect Your Business?

February 14, 2024

The Corporate Transparency Act (“CTA”) became effective on January 1, 2024. This Act will impact many small and medium sized businesses as many for-profit companies such as corporations, and limited liability companies will be required to report their business information to a national database.

Reporting companies are responsible for the accuracy of this information and can face severe criminal and civil penalties for reporting violations.

So, what happens now? Join us next week:

This session will feature moderator Rob Hamor along with fellow attorney, Nick Stock, as they analyze and explore central aspects about the CTA and how it may affect you including:

  • Who the CTA applies to, which businesses must report?
  • Who is exempt?
  • What information must be filed?
  • When does the information need to be reported?
  • What are the consequences for noncompliance?
  • How our team can help you?






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Foster Swift Collins & Smith, PC E-Newsletters are intended for general information for our clients and friends. This newsletter highlights specific areas of law and is not legal advice. The reader should consult an attorney to determine how this information applies to any specific situation.

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