Author Archive | Fred Luper

in god we trust

Court Interprets “Loser Pays’ Provision in Consumer Contract

In a recent case (GATHER v. WALL & ASSOCIATES, INC., et al, 2017 –Ohio-765, March 2, 2017, ), the Montgomery County Ohio Court of Appeals decided that, while an arbitration provision in a consumer contract  was not “procedurally unconscionable” under the Ohio Consumer Sales Practices Act (CSPA), a “loser pays” provision requiring the losing party […]

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Federal Government Proposes Huge Overhaul of Debt Collection Industry

The federal Consumer Financial Protection Bureau (CFPB) recently proposed a significant overhaul of the multibillion dollar debt-collection industry.  The regulations are intended by the CFPB to provide more rights to consumers, while making it much tougher on debt collectors.  Some of the proposed regulations include restricting collectors from calling numerous times a day, and requiring […]

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Supreme Court Clarifies Non-Dischargeability for Actual Fraud

In the recent case of Husky International v. Ritz, the U.S. Supreme Court clarified non-dischargeability for “actual fraud” under Sec. 523(a)(2)( A) of the bankruptcy  code.  The Supreme Court interpreted the term “actual fraud” to encompass fraudulent conveyance schemes, even when those schemes do not involve a false representation. For further information, contact your bankruptcy […]

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One Man’s Opinion on the Forgiveness of Student Loans

LNL recently assisted a small Ohio university in a sale of its assets to another accredited university. Our client was suffering from unresolvable financial problems from many causes, but one of its primary sources of revenue was the proceeds of student loans (which were insufficient to overcome its financial problems.). Billionaire investor Mark Cuban recently […]

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Fraud Is Alive and Well In 2014

When authorities entered Bernie Madoff’s private offices after his fraud was revealed, they found a silver sculpture in the shape of a screw on his window sill.  The name of his yacht was “The Bull Ship.”  Madoff was laughing in the faces of the thousands of investors he bilked. Today, approximately six years after Madoff […]

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Broken Bench

No matter how frustrated a lender may be with his debtor, that automatic stay of Section 362 of the bankruptcy code is still a stay. In the recent case of in re Stellato, decided by the Colorado Bankruptcy Court on May 9, 2014, Mr. Stellato had a grocery and deli. He financed his store equipment […]

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debtors creditors

You, I’ll Pay

A man was lamenting his financial distress to his closest friend. “My business has been so bad in this economy,” he said, “that I’m afraid I may have to file bankruptcy.” “I have an alternative,” his friend said. “I’ve invented a pill that will slow your metabolism so much, you will appear dead. Here’s what […]

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filing bankruptcy

Unintended Consequences of “Watch Out What You Wish For”

When Federal Bankruptcy laws were toughened up in 2005, due in large part to a $40 Million lobbying effort by credit card companies and lenders, homeowners have walked away from their houses and not filed bankruptcy in record numbers. Business Week recently reported that 800,000 fewer homeowners filed bankruptcy after defaulting on their home mortgages […]

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Creative Litigation or “Making Lemonade From Lemons”

Recently we completed a consensual arbitration in a personal injury case. Settlement discussions had stalled, with the defendant offering $40,000 and us demanding $100,000 (the policy limits). We were stuck because the defendant firmly believed that our client’s serious and permanent medical problems were not caused by the tortfeasor’s negligence, but rather because of pervasive […]

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