Servicers Navigate the Post-Pandemic World 2 days ago Court Clarifies ‘Single-Satisfaction Rule’ After Mortgage Lien Avoidance in Daily Dose, Featured, News Print This Post February 25, 2020 822 Views Seth Welborn is a Reporter for DS News and MReport. A graduate of Harding University, he has covered numerous topics across the real estate and default servicing industries. Additionally, he has written B2B marketing copy for Dallas-based companies such as AT&T. An East Texas Native, he also works part-time as a photographer. Subscribe Previous: The Housing and Economic Impact of Coronavirus Next: NMSA and HUD Work to Improve CWCOT Program Data Provider Black Knight to Acquire Top of Mind 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Tagged with: Bankruptcy Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago Bankruptcy 2020-02-25 Seth Welborn Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago About Author: Seth Welborn The Best Markets For Residential Property Investors 2 days ago Home / Daily Dose / Court Clarifies ‘Single-Satisfaction Rule’ After Mortgage Lien Avoidance Demand Propels Home Prices Upward 2 days ago In an examination of Jones v. Brand Law Firm PA (In re Belmonte), the U.S. Court of Appeals for the Second Circuit affirmed a lower court decision that a chapter 7 trustee’s avoidance of an unauthorized postpetition mortgage lien did not amount to a “double recovery” precluding the trustee from avoiding and recovering a transfer of the loan proceeds.JD Supra reports that like the lower courts, the Second Circuit concluded that the trustee’s recovery of a portion of the loan proceeds did not constitute a double recovery in violation of section 550. Because the transfer of the loan proceeds was avoided pursuant to section 549, the court reasoned that the trustee was permitted to seek recovery of either the transferred property or its value pursuant to section 550.“In so ruling, the court rejected the trustee’s argument that the trustee had already recovered the debtor’s interest in the proceeds of the loan when it approved the settlement avoiding and preserving the second mortgage,” JD Supra reports. “Rather, the Second Circuit panel found that the settlement gave the trustee only the rights of a lien creditor with respect to the property, and the second mortgage lien carried with it only the right to foreclose on the property in the event of default.”According to JD Supra, the courts’ conclusion that only one-half of the amount received by Brand was recoverable as “estate property” is interesting.The Second Circuit was not the only court of appeals to weigh in on the scope of the single-satisfaction rule in 2019, JD Supra notes. In Whitlock v. Lowe (In re Deberry), 2019 WL 7046904 (5th Cir. Dec. 23, 2019), the U.S. Court of Appeals for the Fifth Circuit ruled that a bankruptcy trustee may not recover transfers under section 550(a) if the payments were returned by the transferee to the debtor prior to the bankruptcy petition date. Noting that every other court to consider the question has reached this conclusion, the Fifth Circuit vacated the bankruptcy court’s determination that “the single-satisfaction rule does not apply to funds that were returned prior to the petition date.” Servicers Navigate the Post-Pandemic World 2 days ago Share Save Sign up for DS News Daily Related Articles
by Oskar Cox-JensenWhat to do with a post-cancer comeback single, your first in four years? Get a crack songwriting team to pen an innovative, glorious modern classic, hinting at personal trauma? Or nick a so-middle-of-the-road-it’s-pedestrian track from a band too obscure to have a Wikipedia entry?Obviously the latter. ‘2 Hearts,’ written and produced by London outfit Kish Mauve, is hardly the daring departure it’s been heralded as. Its electro bleeps and whirs are awfully polite and incidental, its structure and backing as simple as could be. And there’s something a little embarrassing about a 39-year-old Kylie singing empty teen clichés about love, especially in such a pouting, coquettish, breathless manner. This is the musical equivalent of your maiden aunt putting on her face, throwing a mink fur over her shoulder and mincing off down the kerb.It’s also rather good. The melody is too repetitive, too asinine, too easy – in other words, it’s perfect pop. It’s under three minutes – always a bonus. And there’s this amazing, redeeming backing ‘whoo!’ in every chorus that reminds me of LCD Soundsystem. But it’s neither as brilliant, nor as irritating, as ‘Can’t Get You Out Of My Head.’ Tune.
Notre Dame Security Police (NDSP) alerted students in an email Saturday night of a reported sexual assault that occurred in the early morning hours of March 3. NDSP is investigating the reported incident. Police said the reported assault was committed by a non-stranger in a residence hall. They advised students to be conscious of the environment they are in and look out for friends to reduce the risk of sexual assault. “College students are more likely to be assaulted by an acquaintance than a stranger. This means that the person perpetrating the assault could be part of the campus community. Being aware of your own safety and watching out for your friends are important steps you can take to reduce the risk of sexual assault,” the email stated.
– Advertisement – The longtime television personality, who began his stint on the game show in 1984, publicly revealed in March 2019 that he suffered from stage IV pancreatic cancer.“Just like 50,000 other people in the United States each year, this week I was diagnosed with stage IV pancreatic cancer,” he announced in a YouTube video on March 6. “Now, normally the prognosis for this is not very encouraging, but I’m gonna fight this and I’m gonna keep working and with the love and support of my family and friends and with the help of your prayers also, I plan to beat the low survival rate statistics for this disease.”The ABC series thanked its fanbase for their support two days after Trebek’s announcement. “The outpouring of good wishes and support in response to Alex’s recent health news has been humbling and overwhelming,” the tweet read. “Please know that your messages are being conveyed to him and are deeply appreciated. From everyone at Jeopardy! – thank you.”Alex Trebek at the NAB Broadcasting Hall of Fame Awards in Las Vegas on April 9, 2018. Robb Cohen/Invision/AP/Shutterstock- Advertisement – Jeopardy host Alex Trebek died on Sunday, November 8, after a long battle with pancreatic cancer. He was 80.“Jeopardy! is saddened to share that Alex Trebek passed away peacefully at home early this morning, surrounded by family and friends. Thank you, Alex,” the game show’s official account tweeted on Sunday.- Advertisement – Nearly two months later, the Canada native told Good Morning America‘s Robin Roberts that he was doing his best to stay strong, despite his setbacks, which also included kidney stones and ruptured discs.“I’m used to dealing with pain,” he said in the interview, which aired on May 1, before admitting that it hasn’t been easy to remain optimistic. “But what I’m not used to dealing with is the surges that come on suddenly of deep, deep sadness and it brings tears to my eye. I’ve discovered in this whole episode, ladies and gentlemen, that I’m a bit of a wuss.”Trebek is survived by his wife, Jean Currivan, and their two children, Matthew, 30, and Emily, 27.- Advertisement –
Böhm warned of applying “superficial key figures” to identify sustainable companies without taking a closer look at the underlying operational business, for example.Speaking at the Institutional Autumn Summit, organised by Barbara Bertolini in Vienna, Böhm called on politicians to improve sustainability through good environmental, social and corporate governance legislation.The Commission is pursuing several sustainable finance measures as part of its efforts to deliver on climate change commitments.One of them is the development of a “taxonomy” to define what types of economic activity should be considered environmentally sustainable. EU regulators ESMA and EIOPA have separately been charged with delivering technical advice in relation to potential rules requiring sustainability risks to be integrated in investment decision-making. Christian Wolf, head of asset management at BVV, the €28bn pension fund for the German banking sector, was also critical of the EU’s approach.“What we do not need is legislation overtaking itself,” he said.Wolf pointed out that pension funds had to implement IORP II, the new EU pension fund directive, by mid-January 2019. Schemes had until 2023 before a full assessment of implementation could be carried out. However, the Commission’s proposals on sustainable finance brought additional pressure and less time, according to Wolf.“What pension funds need is long-term reliability of a regulatory framework and time to implement existing legislation,” he said.Local laws and delegated actsThe Commission has sought to amend the IORP II directive to allow for so-called ‘delegated acts’ legislation. The German pensions association, aba, has rejected this and questioned the Commission’s understanding of aspects of IORP II.Markus Zeilinger, founder and CEO of the Austrian €380m Fair-Finance provident fund, argued that some existing Austrian laws actually hindered sustainable investments.“Sustainability is not part of the regulatory framework and some of the investment decisions we are making could be questioned by the supervisor,” he said.And while he welcomed some of the EU’s proposals, he predicted that implementation would be flawed: “I am afraid of the Trojan horse that only brings additional costs and a need for more resources.”He called on the EU to create more transparency and access to databases for investors to make informed decisions.Defending the Commission’s efforts, Martin Koch, policy officer in its financial services department, told delegates that the EU was “only trying to create a system of reference” with the planned taxonomy.“We do not want to tell anyone what is supposed to be green and what is not,” he said.The taxonomy has been described as intended to be an “enabling tool” for investors. Koch added that creating more transparency in sustainability reporting and ratings, as well as checking existing regulatory frameworks for impediments to sustainable investing, were also high on the Commission’s list of priorities.Volker Weber, chairman of the board at the sustainable finance lobby group Forum Nachhaltige Geldanlagen, was sceptical about the taxonomy framework.“You have to judge products according to their own benchmarks and promises to check for greenwashing,” he said. Weber also called on the EU to better coordinate its efforts between the different sectors so as to avoid different regulatory frameworks clashing.In general, the panel said the Commission’s efforts pointed “in the right direction”, but all industry representatives were wary of how various EU bodies and authorities might implement the proposals or translate them into additional regulations. German and Austrian retirement providers are concerned that the European Commission’s (EC) efforts to promote sustainability in the capital markets will end in additional regulation and costs for pension funds, delegates at a conference in Vienna heard yesterday.Discussing the Commission’s proposals for sustainable finance, industry representatives warned of efforts that “might mean well but turn out not so good”.“What is happening at the moment is an attempt to shift some of this responsibility to institutional investors who will get the blame if a goal is not achieved,” said Christian Böhm, managing director of the Austrian €4.4bn APK pension fund. “When ESMA and EIOPA tell us what should be considered sustainable, I begin to shake with fear,” he added.