Klug Law Firm is experienced in representing banks and other financial institutions with all of their banking matters, including commercial and personal loans. The attorneys at Klug Law Firm will ensure that all banking practices are in compliance. When litigation is needed, the attorneys at Klug Law Firm have successfully represented banks in all legal proceedings. Klug Law Firm will seek all damages its client is entitled to including having successfully received awards of three times the amount of actual damages for conversion and attorney fees. Our attorneys are experienced with the Uniform Commercial Code (“UCC”) governing Banks, Sale of Goods, and Secured Transactions.
Klug Law Firm has successfully represented banks in commercial litigation matters in excess of $1,000,000. The attorneys at Klug Law Firm work with the Special Assets Department at Banks and Financial Institutions. We assist with commercial loan restructuring, including the preparation of forbearance agreements. Klug Law Firm is successful in pursuing borrowers, guarantors and obtaining secured collateral when litigation is needed. We help our clients obtain secured collateral and offer proactive, up to date counseling to ensure our clients are in compliance with banking regulations and recent court decisions in regards to its secured collateral. Our attorneys are experienced in complex transactions governed by the UCC including the Sale of Goods (Article 2 of the UCC) and Secured Transactions (Article 9 of the UCC).
Bankruptcy Adversary Proceedings And Objection to Discharge
Klug Law Firm is knowledgeable and has experience representing banks and financial institutions in all bankruptcy matters whether it be an adversary proceeding objecting to discharge, motion for relief from stay, objection to exemption, chapter 13 matters and chapter 11 matters. Klug Law Firm has received judgments in favor of banks, financial institutions and creditors against borrowers and guarantors for non-dischargeable debts including obtaining money by fraud (11 USC §523(a)(2)), obtaining money by false representations made in writing (11 USC §523(a)(B)), or conversion or sale of secured collateral (11 USC §523(a)(6)). Klug Law Firm has represented banks, financial institutions and creditors in both the United States Bankruptcy Court for the Western and Eastern District of Michigan.
Lender Liability Defense
Klug Law Firm has experience in representing banks and financial institutions regarding claims by customers, borrowers and guarantors. Klug Law Firm has represented banks and financial institutions with claims regarding violations of Article 4 of the UCC governing Bank Deposits and Collections, including claims regarding forged and fraudulent checks. Article 4 of the UCC places requirements and ordinary care upon banks and its customers in regards to forged or fraudulent checks. Our attorneys offer counseling in compliance with banking regulations, and the UCC. Whether it be a claim brought by a borrower, guarantor or customer, Klug Law Firm is experienced and knowledgeable to proper represent and defendant banks and financial institutions.
Lien Priority (UCC, Mortgages and Titled Vehicles)
Klug Law Firm has represented banks and financial institutions in regards to priorities of liens whether it be mortgages or personal property (UCC), and actions brought by bonding companies. Klug Law Firm has represented clients in complex commercial transactions involving bonding companies and employee pension funds. Our attorneys are experienced and knowledgeable in representing clients in regards to UCC priority including a debtor’s accounts receivable in regards to the bonding company and employee pension fund secured claims. Our attorneys have successfully represented clients in priority of mortgages actions. Klug Law Firm provides counseling to its clients in regards to the importance of obtaining specific asset filings with the UCC and to obtain at a minimum an annual inspection and appraisal of the secured assets.
Klug Law Firm assists banks and financial institutions with restructuring of commercial loans. The attorneys at Klug Law Firm will explore the options for banks and financial institutions to recover money or mitigate losses from commercial and consumer loans. Our firm has experience in preparing forbearance agreements. We also have experience with loan modifications and workout agreements in regards to collateral and debt owed. We commonly engage in amicable resolutions with debtors such as workouts and other non-litigated or negotiated solutions.
Banking Regulations and the UCC
The laws regarding banking regulations including banks and the UCC are constantly changing. Our attorneys offer counseling and experienced insight into compliance with banking regulations. Our attorneys also offer counseling in regards to updates in case law regarding banking regulations and the UCC.
Appointment of Receiver
The appointment of a receiver over a debtor’s property can be a necessary remedy for a creditor both pre and post judgment. In Michigan, Courts have the authority to appoint a receiver over a debtor’s property to protect the rights of creditors. The appointment of a receiver allows a receiver to operate and manage the debtor’s ongoing business if it is deemed feasible and necessary while preserving the interests of the secured creditors. Our attorneys have experience in protecting secured creditors rights and having receivers appointed over a debtor’s property prejudgment. Situations when the appointment of a receiver prejudgment is a necessary remedy when the: (1) business should remain open to protect the interests of the secured creditors; (2) secured assets are easily disposable; (3) secured assets are easily transferrable; (4) value of the secured assets can be easily diminished; (5) secured assets can be easily sold and converted to cash; and/or (6) debtor has improperly used cash proceeds. The appointment of a receiver post judgment is necessary to bring about compliance with a Court’s Orders. This can arise when a debtor: (1) continues to hide assets; (2) fails to answer post judgment discovery requests; or (3) fails to comply with post judgment relief. When necessary our attorneys will move the Court to appoint a receiver to protect our clients’ assets and do everything possible for our clients to recover on the debt owed to them. KLF represents banks, businesses and individuals in state receivership actions involving mortgages, liens, secured creditors, judgments and other matters implicating a security interest in property.
The laws regarding foreclosure are constantly changing. Whether it be a personal residence or a commercial mortgage, the attorneys at Klug Law Firm are up to date on all of the laws to ensure that the bank is in compliance with both Federal and State Law. Our attorneys have experience and knowledge in regards to every step of the foreclosure process and can properly advise banks and financial institutions in regards to mortgage foreclosures. Klug Law Firm has successfully represented banks and financial institutions in lawsuits seeking deficiencies against borrowers. Our attorneys have also successfully negotiated settlements regarding deficiencies as well.
Experienced Lansing Banking Attorneys
KLF provides banks and other financial institutions with quality advice and representation in all banking law matters. Whether you are small or big bank or financial institution, contact the Klug Law Firm for professional assistance with your banking law needs.