Advising on Repossession Processes for a National Credit Union
Kegler Brown advised United Federal Credit Union on revising its notices of repossession to be compliant with Ohio laws. This included guidance on the differences between the credit union’s Retail Installment Sales Contracts and regular financing it had on its books. It also included variations based on whether or not the borrower was currently in bankruptcy or had been through a previous bankruptcy and whether or not the repossession was done voluntarily. Our team worked with the credit union to create forms for use by its associates that could be easily (and lawfully) completed during the proper handling of a vehicle repossession in Ohio. In addition, the credit union now uses our firm for subsequent questions on specific repossession matters.
$1.5M+ Loan Collection Through Property Liquidation
Our client loaned approximately $2 million to the operators of a chain of tobacco stores, with the stores and other real property located in three counties serving as collateral. Kegler Brown filed a foreclosure suit in one county, but extended jurisdiction over the real properties in the other two. One of the borrowers filed bankruptcy, but our lawyers obtained a relief from stay and were able to proceed with the suit. An auctioneer was appointed to liquidate the properties after the foreclosure judgment was granted in mid-2016.
$100,000+ of Collateral Protected for Automotive Parts Distributor
Our team assisted one of the most respected manufacturers in the automotive parts aftermarket with a Writ of Execution to obtain possession of collateral of a shop where the owner passed away and the company was liquidating the collateral. Our lawyers assisted the manufacturer in shutting until we were able to reach an agreement to the satisfaction of our client and resolve the matter in early 2016.
Defense of Multiple Preferential Demands in Graceway Bankruptcy
Kegler Brown handled the defense of multiple preferential demands from the debtor, filing and defending of proofs of claims, and applications for allowance of administrative expense claims in the Graceway Chapter 11 bankruptcy case for multiple related entities. Our firm provided advice related to the continuation of business with the debtor and guidance regarding how the debtor’s proposed plan would affect such business.
Settlement of Alleged Automatic Stay Violation
We successfully settled an alleged violation of the automatic stay in debtor's closed bankruptcy case after an initial "show cause" hearing demanded by the debtor against our national telecommunications client.