In a published decision issued on January 12, 2016, the New Jersey Appellate Division confirmed that the same 4-year statute of limitations period for asserting fraudulent asset transfer claims applies in commercial transactions and tort claims regardless whether or not the creditor has obtained a judgment. Rosario, et al. vs. Marco Construction ... Read More.
PERFECTING SECURITY INTEREST IN GOODS OR CHATTEL Under the Uniform Commercial Code (“UCC”), is a secured creditor required to file a new UCC-1 financing statement to perfect its security interest in equipment if a debtor moves its “location” to another jurisdiction? The answer may depend on whether the debtor is considered an “organiza ... Read More.
In a precedential opinion issued on June 30, 2015, the United States Court of Appeals for the Third Circuit affirmed the lower court's dismissal of a putative class action complaint filed by a consumer against a law firm and its client for allegedly violating a provision of the Fair Debt Collection Practices Act ("FDCPA") that prohibits a debt coll ... Read More.
Consider this hypothetical: Plaintiff accounting firm (“Accounting Firm”) files a collection suit (“Action 1”) against defendant limited liability company (“LLC”) for nonpayment of invoices. In LLC’s answer to the Accounting Firm’s Complaint, LLC raises professional negligence as an “affirmative defense.” LLC fails to retain ... Read More.