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Month: March 2020

Servicers Not Subject to Professional Malpractice Claim
ABS Update

Servicers Not Subject to Professional Malpractice Claim

I recently came across a case involving (among other things) a professional malpractice claim against an auto loan servicer. The court held that loan servicers are not in the category Continue reading Servicers Not Subject to Professional Malpractice Claim

Champerty Defense Defeats Trustee Action Claims
ABS Update / Champerty

Champerty Defense Defeats Trustee Action Claims

The SDNY recently dismissed a lawsuit by Phoenix Light against U.S. Bank on champerty grounds. That is, the court found that the assignment of claims to Phoenix Light was illegal Continue reading Champerty Defense Defeats Trustee Action Claims

Recent Trustee Action Settlement
ABS Update / Claims Against Trustees

Recent Trustee Action Settlement

Royal Park v. BoNYM, 14-cv-06502-GHW, appears to have settled.

Recent Posts

  • Even if a Party’s Counsel in Another Action Agrees to Accept Service, Service is not Effective Without Evidence that the Defendant Gave His Counsel Permission to Accept Service
  • Defendant Must Repay Salary under Faithless Servant Doctrine
  • Rescission and Rescissory Damages Unavailable When Defendant is Not Contractual Counterparty
  • Defendant Liable for its Predecessor’s Contractual Obligations
  • Where Servicer and Originator Were the Same, Originator’s Failure to Cure Defective Loans Constituted Servicer Failure to Perform Event of Default

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