Jeffrey Wurst cautions lenders “to plan your divorce before you get married,” when preparing loan documents. Incorporating waivers is one way to avoid subsequent litigation. A Texas case illustrates how even unenforceable waivers can strengthen a lender’s position.
Jeffrey A. Wurst, a senior partner at Ruskin Moscou Faltischek and a regular contributor to ABF Journal, has been elected to the Board of Regents of the American College of Commercial Finance Lawyers.
Jeffrey Wurst observes federal judges currently spend most of their time handling criminal and discrimination cases rather than commercial finance. As a result, the judges are not as knowledgeable about this area, and the cases take longer to resolve. Looking to build a better mousetrap, Wurst has hit on arbitration to resolve commercial disputes in a fair and timely manner.
Losing its business and having to repay its debts can compel a bitter borrower to retaliate against a lender, blaming the lender for its default. Jeffrey Wurst notes the courts do not always favor borrowers, as a recent suit filed against MB Financial Bank demonstrates.
Financing Government Receivables: State Governments Subject to Notification Like Other Account Debtors
Assigning payment rights is a basic concept that enables borrowers to obtain working capital. However, matters can be more complex when working with government departments. Jeffrey Wurst explains a recent decision in a Florida appellate court that requires state government departments to make payments when the debt has been reassigned to a factor if proper procedures have been followed.
Jeffrey A. Wurst, a senior partner at Ruskin Moscou Faltischek and chair of the firm’s Financial Services, Banking & Bankruptcy Department, was named to the Long Island Pulse Magazine’s list of top 10 area attorneys.