By Porter Wright on Ohio is now one of a number of states with a so-called “asset protection” statute. Bankers with trust authority might view this development favorably because it may be another possible service line, and indeed Ohio trust companies and Ohio trust lawyers were the main proponents of the statute. Other bankers however, may encounter the statue as … Continue Reading
By Brad Hughes on On May 2, we reported here on a trifecta of noteworthy lending cases that were accepted for review by the Ohio Supreme Court. One of the three cases discussed in that post, Corbett v. Beneficial Ohio, Inc., is a certified-question case from the U.S. District Court for the Southern District of Ohio, in which District … Continue Reading
By Porter Wright on In The Henry County Bank v. Stimmels, Inc., et al., 3rd Dist. No. 7-12-19, 2013-Ohio-1607 (Apr. 22, 2013) the Third Appellate District Court rendered a decision that will dismay commercial creditor’s rights attorneys in Ohio in holding that a warrant of attorney to confession judgment R.C. §2323.13 may only be used if the debtor was … Continue Reading
By Brad Hughes on At the end of April, the Ohio Supreme Court agreed to hear three notable cases that readers of this blog may wish to monitor – or perhaps even participate in as amici curiae. First, the Court has agreed to resolve a conflict among Ohio’s appellate districts regarding whether the Statute of Frauds precludes a foreclosure defendant … Continue Reading
By Porter Wright on As Ohio enjoys its latest boom in oil and gas exploration, it is important to understand how oil and gas leases are treated in bankruptcy. The importance of these issues are underscored by the frequency with which the courts confront them; hence we visit again this unsettled area and consider further the question of the … Continue Reading
By Porter Wright on On March 29, 2013, the Court of Appeals for the 10th Appellate District in Columbus issued a decision of significance for mortgage lenders that rely on contractual subordination and flow down provisions in construction contracts. In KeyBank Natl. Assn. v. Southwest Greens of Ohio, L.L.C., 10th Dist. No. 11AP-920, 2013-Ohio-1243, the 10th District Court of … Continue Reading
By Porter Wright on With the recent boom in Ohio’s oil and gas industry, secured creditors in Ohio should be sensitive to special statutory requirements for perfecting security interests granted in assets of gas and pipeline companies. Although security interests in personal property and fixtures are most frequently perfected by filing financing statements under the UCC, there are several … Continue Reading
By Matt Moberg on By now, you have probably heard about some of the changes in title policies and title searches caused by the recent oil and gas activity in Ohio. Title insurers also recently added to their policies a standard exception for any “lease, grant, exception or reservation of minerals or mineral rights.” Essentially, this language means that … Continue Reading
By Porter Wright on The pilot program for commercial docket courts in Ohio began in 2009, and was met with strongly positive reviews by both business lawyers and their clients, who generally experienced prompter resolution of and greater expertise in commercial cases. It now appears that what began as a pilot program will become permanent. In late 2012, the … Continue Reading
By Porter Wright on Banks and consumers concerned about waiving attorney-client privilege can now rest easy when submitting privileged information to the Consumer Financial Protection Bureau (CFPB). Congress recently passed legislation confirming such submissions will not waive privileged status as to third parties, consistent with existing law with respect to submissions to other federal banking agencies. On December 20, … Continue Reading
By Eric Gallon on Financial institutions’ lawyers working in Ohio (and their clients) should take note of an important development regarding the law of attorney-client privilege. On December 20, 2012, Governor John Kasich signed into law Amended Substitute House Bill 461, which makes important changes to Ohio’s attorney-client privilege statute, R.C. 2317.02(A)(1). Until recently, Ohio’s attorney-client privilege statute stated that … Continue Reading
