Super Lawyers and Rising Stars are honorary titles bestowed upon a select group of the most distinguished attorneys by the San Francisco publication, Law and Politics. Lang, Richert & Patch proudly recognizes its 2009 Super Lawyers and Rising Stars. Attorneys earn this distinction after being evaluated in a multi-phase process that involves peer nomination and third-party research, which rigorously evaluates the nominees. Renowned authorities esteem this complex process of selecting top lawyers and deem it legitimate. As a result of its selection criteria and in-depth research process, Super Lawyers and Rising Stars are among the most noteworthy, if not best, client representatives in the state and leaders in the legal community.
[Read more...]
Fresno Attorneys receive Super Lawyer and Rising Star Honors
René Lastreto on "Cross-Border Collections" Panel
On October 1-4, 2009 Mr. René Lastreto will be participating as a faculty member in the 36th Annual Association of Business Trial Lawyers Seminar at the Broadmoor Resort in Colorado Springs, Colorado. The topic for this years’ seminar is “Lost in Translation: Cross-Border Litigation Tactics and Strategies.” Mr. Lastreto will be on a panel discussing the topic “Cross-Border Collections: You Won. . . Now What?” The topics that he and the panel will be presenting include how to collect/enforce foreign judgments and enforcing judgments internationally. In addition, Chapter 15 of the Bankruptcy Code will be discussed.
High Court Says Concealment of Assets Can Take Away Important Right in Bankruptcy
Pete Yost
The Associated Press
February 22, 2007 – The Supreme Court ruled Wednesday that a financially troubled small-business man gave up an important right under the federal bankruptcy code because he failed to disclose all of his assets as the law requires.
In a 5-4 decision, the Court said Robert Marrama of Gloucester, Mass., could not convert his bankruptcy case from one chapter of the code to another, as the law ordinarily allows.
The reason, the Court said, stemmed from his failure to disclose a Maine vacation home placed in a trust. Marrama, who operated a flooring company, listed the value of his interest in the property as zero, according to papers in the case.
Unsecured Creditors – Challenges after Bankruptcy Reform
Bankruptcy reform is sure to have an impact on the debt purchasing industry for years to come. But what are the key points that debt buyers need to look at?
With the passage of the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA), fundamental changes in how distribution of a debtor’s income will be made during a bankruptcy case went into effect. Unfortunately, touted as a “creditor’s bill,” an analysis of BAPCPA has uncovered several examples of the law of unintended consequences. Indeed, credit card companies and other unsecured creditors, and those who purchase this type of account, should proceed with caution when making projections based on media hype and rumor.
When analyzing and anticipating the net result of BAPCPA for a creditor or debt buyer’s bottom line, it is one thing to make general predictions about recoveries, but another to understand why the changes will occur and what can be done by unsecured creditors to make a positive difference for recoveries. This article will focus on some of the major changes made by BAPCPA and their effects on unsecured recoveries.
Securing Multiple Debts by One Deed of Trust: Maximize Recovery with Dragnet Clauses
By René Lastreto, II
Lang, Richert and Patch
A “dragnet clause” is a contract provision stating that a mortgage secures all the debts that the mortgagor may at any time owe to the mortgagee. California courts have upheld the general validity of dragnet provisions. Union Bank v. Wendland, 54 Cal.App.3d 393, 398 (1976). They also recognize the risk that such provisions may be included in a trust deed or mortgage without the debtor’s knowledge or understanding. “Clauses such as this are often termed ‘dragnet’ or ‘anaconda,’ ‘as by their broad and general terms they enwrap the unsuspecting debtor in the folds of indebtedness embraced and secured in the mortgage which he did not contemplate… ‘….” Wong v. Beneficial Savings & Loan Association, 56 Cal.App.3d 286, 292 (1976) emphasis in original.