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Virtual Lunch & Learn Hosted by SVL Law Firm

On March 10, 2021, we will be hosting a new Virtual Lunch and Learn. The event will take place from 12:00 p.m. (noon) until 1:15 p.m. Eastern Time. Join Jim, Tyler, Steve, and Blair as we discuss the latest issues regarding new Federal laws, COVID-19 and other hot topics related to collections, bankruptcy, and foreclosure matters. There is no cost to attend.

Lunch & Learn
The meeting will be held via Zoom, and we encourage you to log in using a computer, tablet, or smartphone with a camera so that we can see each other and participate in a “face to face” gathering. We ask that you RSVP for this event by emailing Whitney at whitneyw@svllaw.com no later than Friday, March 5th, at 5:00 p.m. Upon receiving your RSVP, Whitney will send you an email with the password for entering the zoom meeting and a gift card to DoorDash.

You will not get the password to join the meeting unless you RSVP. If you plan to attend, remember to mark your calendar and copy the link below into your calendar for future reference.

Join Zoom Meeting

https://svllaw.zoom.us/j/8506335847?pwd=ZmlJTTkrZy9WczBJNzJTaEZuWEpmUT09&from=addon

Meeting ID: 850 633 5847

Dial by your location:
+1 929 436 2866 US (New York)

Meeting ID: 850 633 5847

Find your local number:
https://svllaw.zoom.us/u/ab9qj6fdLx

Supreme Court Ruling May Impact Repossessions Prior to Filing Bankruptcy

On Thursday, January 14, 2021, the Supreme Court issued a ruling in City of Chicago v. Fulton, that holds “mere retention of property does not violate the [automatic stay in] §362(a)(3)”. Unlike in Florida, the other states in the 11th Circuit (Georgia, Alabama) require a vehicle which is repossessed but not yet sold, prior to the filing of bankruptcy, to be returned to the debtor.

This ruling looks to change this imposition on creditors; however, the Court left a lot of room for debtors to still challenge the retention of held property. They explicitly did not decide whether the turnover obligation in §542 would still require the creditor to return a vehicle in this specific situation, or whether or not §362(a)(4) and (a)(6) would apply as well. Either way, this is a step in the right direction for creditors.

If you have any questions on this ruling or any other bankruptcy matter, please do not hesitate to reach out to one of the attorneys at the Sorenson Van Leuven Law Firm.