Cooley Shrair Blog, News & Events

Bank Alert Notice: Marshalling

January 12, 2017

Business Law

In our last bank alert notice, we were talking about the right of setoff.  The operative language of the erroneous setoff provision stated that the “bank would not exercise its right of setoff until all of the bank’s collateral had been liquidated.”

Bank Alert Notice: Right of Setoff

January 12, 2017

Business Law

We recently reviewed a situation where a bank set off on a customer’s deposit account, following an event of default.  The customer claimed that that bank did so wrongfully.

Bank Alert Notice: Landlord Waiver and Collateral Access Agreement

January 12, 2017

Business Law

Presumably documents you are asked to sign are carefully read.  I recently ran into a case, however, where a mortgagee for a commercial/industrial building was asked to sign a Landlord Waiver and Collateral Access Agreement for the lender financing the FF&E for a tenant.  The lender had signed off on the agreement, but prior to mailing it back asked us to take a brief look.  They thought it was a “standard agreement.”

Can I Receive Alimony?

June 16, 2016

Divorce & Family Law, Podcast

There are a number of factors that a judge considers when awarding alimony and when alimony can be granted.  General alimony can be awarded if there is a need and if there is no child support being paid.  If child support is being paid, alimony is only granted if the parties have a combined income in excess of $250,000.  General alimony is granted for a period of time determined by the length of the marriage.

Child Support Modification

June 16, 2016

Divorce & Family Law, Podcast

Last year the Massachusetts child support guidelines were amended. If you have been divorced for three years, you may be entitled to a modification of your current child support order if your payment obligation deviates from the new guidelines.  The court will evaluate the deviation, and consider whether there has been a material and substantial change in circumstances to the parties income.

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