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A NEW BOOST FOR THE RIGHTS OF CREDITORS: COURT RULES THIRD PARTY LITIGATION EXPENSES MAY BE RECOVERED AS CONTRACT DAMAGES

April 3, 2018 | Categories: Firm News, Publications | Topics:

A NEW BOOST FOR THE RIGHTS OF CREDITORS: COURT RULES THIRD PARTY LITIGATION EXPENSES MAY BE RECOVERED AS CONTRACT DAMAGES   Unless a statute or contract provides otherwise, a party to a lawsuit is responsible for its own litigation expenses, including attorneys’ fees. This is known as the “American rule.” It contrasts with the “English […]

SAD CASE FOR RECLAMATION CLAIMS IN BANKRUPTCY SCENARIO: NOT DEAD BUT BARELY BREATHING

April 3, 2018 | Categories: Firm News, Publications | Topics:

In 2006, after passage of the 2005 Bankruptcy Abuse and Consumer Protection Act of 2005 (BAPCPA), KMK questioned whether reclamation claims in bankruptcy had become obsolete even though BAPCPA had doubled the period that a reclamation claim could cover in bankruptcy, from 20 to 45 days. Despite the expansion of the reclamation time period, BAPCPA […]

RECENT AMENDMENTS TO WISCONSIN’S FORECLOSURE STATUTES MAY DELAY THE RECORDING OF DEEDS AFTER SHERIFF’S SALE

January 8, 2018 | Categories: Publications | Topics:

Recent amendments to Wisconsin’s foreclosure statutes went into effect on December 1, 2017. The amendments significantly changed the process of recording deeds after confirmation of sheriff’s sales throughout Wisconsin.   The amendments repealed Wis. Stats. §§ 846.167 and 846.17.  These statutes were colloquially known as the “Milwaukee County Rule”, because Wis. Stat. § 846.167 only […]

IMPORTANT BANKRUPTCY RULE AMENDMENTS WENT INTO EFFECT ON DECEMBER 1, 2017

December 7, 2017 | Categories: Publications | Topics:

The Amendments Will Have a Significant Impact on Creditors, including Secured Creditors   Overview   In this bulletin, we provide a brief summary of the many amendments to the Federal Rules of Bankruptcy Procedure (“FRBP”) that took effect on December 1, 2017.  These amended rules will have a significant impact on the rights of creditors […]

Recent publications by KMK attorneys

November 5, 2017 | Categories: Firm News, Publications | Topics:

KMK is again providing judges and lawyers important scholarship to guide pretrial litigation discovery, though the State Bar of Wisconsin. Continuing their decades of work, Robert Gegios and Melinda Bialzik are authoring another edition of “Chapter 2 – Scope of Discovery” in Pinnacle Books’ Wisconsin Discovery Law and Practice. Robert and Melinda also authored, earlier […]

Dot Your I’s and Don’t Forget the T’s: Lender Loses its Secured Status for Missing ‘t’ in Borrower’s Middle Name

October 6, 2017 | Categories: Publications | Topics:

By Matthew P. Gerdisch and Devon Daughety A recent bankruptcy case dramatically illustrates how critical it is for a lender to strictly comply with the requirements for creating a legally effective UCC financing statement, and the hard lessons that follow if a lender fails to do so.   In Mainsource Bank v. LEAF Capital Funding, […]

GOOD NEWS FOR LENDERS: WISCONSIN SUPREME COURT STRENGTHENS LENDERS’ REMEDIES AGAINST GUARANTORS

April 4, 2017 | Categories: Publications | Topics:

By Matthew P. Gerdisch of Kohner, Mann & Kailas, S.C.   The Wisconsin Supreme Court recently issued a decision that clarifies an important part of foreclosure law. The decision is advantageous for lenders that seek not only to foreclose on real estate collateral, but also preserve their right to collect from guarantors.   Wisconsin law […]

“Winning the Game” With a Comprehensive Credit Application

April 4, 2017 | Categories: Publications | Topics:

The credit application is arguably the single most important factor in the control, collection and limitation of losses relating to the management of accounts receivable and collection of delinquent accounts.   Yet, both large and small business creditors constantly enter the game with only half a “play book”. Consequently, they lose more games (uncollected accounts) […]

PREFERENCE DEFENSES: UPDATE ON THE BAPCPA REFORMS 12 YEARS LATER

April 4, 2017 | Categories: Publications | Topics:

When it was enacted, most publicity regarding the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (“BAPCPA”) focused on consumer bankruptcy reforms. However, commercial creditors faced with the vexing problem of a preference action in bankruptcy also received some relief. The three most significant changes were touted at the time to offer the following […]

A Letter Of Credit and The Bankruptcy Paradox: Will It Protect You? – Maybe!

April 4, 2017 | Categories: Publications | Topics:

By Matthew P. Gerdisch of Kohner, Mann & Kailas, S.C.   A letter of credit (“LC”) can be a valuable tool in a trade creditor’s arsenal to secure payment of an account and at the same time avoid a future bankruptcy preference claim. However, creditors should beware. They can on occasion find themselves in the […]



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