Section Newsletters

Articles From Michael L. Weissman

Bank and Borrower Did Not Collude to Injure Another Lender By Michael L. Weissman Commercial Banking, Collections, and Bankruptcy, June 2020 In NearGear Capital, Inc. v. Bank of Springfield, the question was whether Bank of Springfield had colluded with its borrower, Gateway Buick GMC, Inc. to injure Gateway’s floor plan lender, NextGear Capital, Inc.
Credit card issuing banks have no common law remedies against a retail merchant with a data security breach By Michael L. Weissman Commercial Banking, Collections, and Bankruptcy, August 2018 The U.S. Court of Appeals for the Seventh Circuit recently handed down a significant decision in Community Bank of Trenton v. Schnuck Markets, Inc., which involved the purported liability of a retail merchant to credit card issuing banks in the face of a data security breach.
Recent cases By Michael L. Weissman Commercial Banking, Collections, and Bankruptcy, March 2016 Recent cases of interest.
Lender liability is alive and well: Bank assessed compensatory and punitive damages for mishandling a Construction Loan By Michael L. Weissman Commercial Banking, Collections, and Bankruptcy, September 2012 The case of Bank of America, N.A. v. Sanjiv Narula, et al. points out the need for lenders to deal fairly with borrowers, especially when a fiduciary relationship has been established.
Piercing the corporate veil in Illinois: A tool for lenders By Michael L. Weissman Commercial Banking, Collections, and Bankruptcy, September 2012 In Wachovia Securities, LLC v. Banco Panamericano, the Seventh Circuit Court of Appeals considered what must be established under Illinois law to impose liability on corporate insiders for indebtedness incurred by the corporation.
25 points to remember when foreclosing on UCC-type collateral By Michael L. Weissman Commercial Banking, Collections, and Bankruptcy, September 2011 A checklist for a successful foreclosure and sale of collateral.
Credit Agreement Act bars evidence of oral promises made by lender By Michael L. Weissman Commercial Banking, Collections, and Bankruptcy, December 2010 A review of General Electric Business Financial Services, Inc. v. Silverman.

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