Pre-Petition Waivers of the Automatic Stay in Bankruptcy

In the context of loan workouts, lenders often utilize a waiver of the protections of the automatic stay under section 362 of the Bankruptcy Code. The goal is protection of the lender in the event that a borrower later seeks bankruptcy protection. Whether or not these waivers are enforceable in court, however, is an open issue. Unfortunately, there is little uniformity among the circuit courts, or even within some of the circuits themselves. This article focuses on the holdings of courts within the Fourth Circuit, but will conclude with a look at two recent cases from other circuits with conflicting holdings.

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Virginia Mechanic's Liens: Top Five Steps to a Valid Lien

Filing a memorandum of mechanic’s lien appears so simple: a one-page form with requirements for basic information such as the names of the property owner and the lien claimant, a description of the property to be liened, and the amount claimed. Yet, as any attorney who regularly files or defends against mechanic’s liens knows, there are numerous traps that must be avoided. By no means all-inclusive of such pitfalls, here are my top 5 steps to a valid lien in Virginia.

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Security Interests in Uncommon Collateral, Part 3

As was discussed in previous articles, in order to maximize collateralization of loans, lenders may look to infrequently utilized forms of security. This article focuses on security interests in marine vessels subject to federal laws of priority and enforcement. As stated previously, it is imperative that lenders understand the steps to take to protect interests in such collateral.

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Domestication of Foreign Judgments

While Article IV, Section 1 of the United States Constitution provides a very clear foundation for the uniform enforcement and collection of judgments, there are still numerous pitfalls and procedural hurdles to navigate when one domesticates a judgment from one state in another state.

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Don't Think You Need a Title Examination to File a Mechanic's Lien Memorandum?

A mechanic's lien is a powerful remedy but filing a proper lien requires strict adherence to the laws governing mechanic's liens. One mistake and the lien may be invalid. For this reason, no lien claimant or his or her attorney should contemplate filing a Mechanic's Lien Memorandum without first obtaining a title examination of the real property to be liened. Why?

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