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In this issue: Letters to the Editor In case you haven't received the word, The Free Press has instituted a "Letters to the Editor" column. If you don't want to take time out of your busy schedule to do research for a scholarly article, if you have a suggestion, recommendation, or constructive criticism to direct to the Section leadership or the Free Press editorial board, or if you just want to "vent" (in a non-abusive manner, of course), you will now have a forum. You can submit a letter any time it suits your fancy, and you need not wait until just prior to the publication of an edition of the Free Press. Submissions will be kept on file for future publication. Please submit your letters to Livui Vogel, (lvogel@salonmarrow.com) co-chair of the CRS Newsletter Committee. The Free Press Best Feature Article Award The Creditors' Rights Section will annually recognize outstanding articles submitted to The Free Press, with a "Best Feature Article Award" to be presented to the author of the winning article, at the Creditors' Rights Section general membership meeting at the CLLA Eastern Regional Meeting in New York. Articles submitted for the Fall, Spring and Summer editions of The Free Press will be eligible for the award and will be considered for the award if so requested by the author. Any articles submitted for the Summer edition of the Free Press for consideration for the Best Feature Article Award must be submitted to the Free Press by May 15, and judging of all articles submitted for the Award will take place over the summer. Each year, the Best Feature Article Award will be presented in New York, for the best feature article submitted within the previous year. The following criteria should be adhered to for articles submitted for consideration for the Award:
All articles must be submitted in Word formal, via e-mail to Liviu Vogel, co-editor, lvogel@salonmarrow.com Any questions may be directed to Brenda Majewski, (414) 276-0435, co-editor. Your subscription You have been subscribed to this list as part of your membership in the Creditors Rights Section of the Commercial Law League of America. Changes to your e-mail address and all other comments can be sent to crs@clla.org CLLA 70 East Lake Street, Suite 630 Phone: 312-781-2000 Newsletter design by: |
The Free Press - Volume 1, Spring 2008 Report from the ChairBy Ed Friedman, Esq. With holiday and New Year's memories behind us, it is time to take a
hard look at the CRS to measure where the Section stands now, and where the
Section wants to go. It is time to establish realistic targets and work
towards those goals. The CRS needs to avoid getting sidetracked, and
focus Sections' energies and resources into projects in which the CRS
can achieve and provide true benefits to our members. CRS leadership
has answered the call, and continues to work diligently on behalf of the membership. With Chicago's National Meeting fast approaching, the CRS Educational Co-Chairs, Lorna Walker and Matt Burkinshaw, have "left no stone unturned" in scheduling high level educational offerings by the CRS. Chicago education will include programs on post-judgment enforcement, subrogation, and extraordinary creditor remedies. CRS education
benefits alone are justification for dues and registration. As of this
writing, I am pleased to report that the CRS Forum and the CRS Practice Groups
are both active. Rick Johanson, Practice Group Chair, "took the
bull by the horns" after New York to finally nail together the Practice
Groups. If you indicated an interest in a Practice Group in New York,
you should now be a part of that group. The Forum and Practice Groups
can only be as good as we make them by utilization. Give these tools
a try, why reinvent the wheel. The CLLA has a lot of talent within our
organization. Internally, the CRS is in good shape financially, and continues to monitor your dues dollars, and Section's funds to insure they are put to the best use. One new financial CRS initiative is to partially fund the retail program to be presented by the CLLA in Chicago. As most CRS members do some consumer work, we see this CLLA initiative into retail as a positive, and a complement to the Section. Finally, as to membership, the CRS continues to stress retention in keeping the Section strong. Doug Evans, Membership Chair, has done an excellent job, and will continue his focus on increasing membership. CRS has been active since New York, and my job as Chair has been made easy by having such committed workers. As Chair, I have had the ability to lean on the strong traditions and foundation laid by prior CRS Chairs. It continues to be a privilege to serve as your Chair, and I wish everyone a healthy and prosperous 2008. Best regards. MEMBERSHIP COMMITTEE REPORTBy: Doug Evans, Esq. Congratulations to the CRS on the implementation of the new on-line directory. The directory is very professionally done and gives each member the opportunity to expose the on-line community to the specifics of the member's practice in an attractive, comprehensive manner. This is a valuable benefit to CRS members and a bona fide reason for joining the Section. In light of the possibilities offered by the directory, the CRS is developing plans to provide the opportunity for members to update their information for the directory at the Chicago meeting. Another important practice aid developed by the CRS are the on-line practice forums which provide a method for sharing practice area concerns and obtaining colleague input on issues that arise in everyday practice. The CRS encourages your use of the Forums. The more the Forums are used, the more beneficial they will become. In today's practice environment, the volume of claims being received by commercial agencies and thereafter forwarded to receiving attorneys under the triadic system is declining. This is due in part to the consolidation of the businesses of local debtors into regionally or nationally based businesses, eliminating business opportunities for agencies and attorneys. Also, the developing misconception that one law firm can effectively cover an entire state has had an adverse effect on attorneys in smaller towns. Thus, it is important for attorneys to utilize a resource such as the CRS to provide an avenue to build the relationships which result in additional business from attorney forwarders. Washington Legislative ReportExcerpts from recent Washington Hot News distributions By David P. Goch, Esq. Lawmakers Seek Compromise on The Foreclosure Prevention Act of 2008 The Senate is expected to hold discussions regarding a housing stimulus bill
next week (March 3) while lawmakers seek a compromise on The Foreclosure
Prevention Act of 2008, a controversial provision that would allow
bankruptcy judges to modify mortgages in order to prevent foreclosures. CRS Promotion and Marketing CommitteeBy Nicholas D. Krawec, Esq. Well, since my initial report to you as Chair of the Promotion and Marketing Committee in the Fall, 2007 edition of The Free Press, we have two new members of the committee, as Marc Bressler and Jay Scheinfield, have joined our ranks. So the committee's membership as tripled if you count me. We could still use some additional members, so if you're interested in promoting and marketing the Creditors Rights Section, and its members, please contact me at nkrawec@bernsteinlaw.com. There are a few things planned for the Chicago meeting. As you know, the League staffs a booth in the hospitality room, and in Chicago. The CRS will be a part of that booth. We are working on getting a sign, with the CRS logo, to place at the booth to indicate our presence. We plan on having a laptop set up, and David Watson is working on having the Hotel provides us with Internet access, so that we can show existing members and, hopefully, prospective members, the CRS online directory on the League web site. They will be able to see first-hand one of the benefits of CRS membership, a listing in the CRS online directory, with information about them and their firm, and a photograph of them if they choose. We are hopeful that showing this CRS membership benefit, will attract some new folks to our great section. We should also have some CRS members present to help staff the booth, so if you have some free time over the weekend in Chicago, stop by the booth and lend a hand. Additionally, in conjunction with our presence at the League booth, we will be holding, what I'm told is a "silent auction." Again, the League staff is working on tracking down 1 or 2 items that might be attractive for attendees to bid on. However, this report is also somewhat of a plea for any of you out there who might have some interesting or unique items that you might be willing to part with and donate to the CRS cause, on which meeting attendees might be inclined to bid. The objective of this activity is to raise some funds for the CRS so we can continue to thrive and provide benefits to our membership. So, if you're willing to donate an interesting or unique item to the silent auction, my e-mail address is set forth in the opening paragraph. Please contact me. We can really use your help. See you in Chicago. Why are you a CRS Member?The objectives of the Creditors' Rights Section are:
Why Do Creditors Retain Members of the Creditors' Rights Section?
As stated at www.clla.org. Letters to the Editor:Response received on CLLA's recent "Don't Close That File" from the attending attorneys at Kohn Law Firm S.C.:
Education Committee ReportBy Matthew J. Burkinshaw, Esq. and Lorna Walker, Esq. The Education Committee is very pleased with the education programs that are planned for the 78th Annual Chicago Meeting May 1- 4, 2008. This year there will be several education tracks, both in Commercial and Retail Collections. The CRS has a full slate of commercial programs planned. Aaron N. Bailey of Smith Debnam, Narron, Wyche, Saintsing & Myers, LLP in Raleigh, NC will present a program called "Cracking Nuts! How to Stop the Shell Game" about collecting money from elusive debtors who commit fraudulent transfers, hide behind phony corporations and find other creative ways to hide assets from their creditors. CRS is also sponsoring a program on handling insurance subrogation claims from inception to suit. The panel includes two attorneys, Robert Potrzebowski of the Kohn Law Firm in Milwaukee, Wisconsin and Doug Lehrer of Matthiesen, Wickert & Lehrer, S.C. in Hartford, Wisconsin plus CLLA member David King of the collection agency, Vengroff, Williams & Associates, Inc. and Maggie Verkuilen of Secura Insurance Company. This program will appeal to all CRS members who are interested in learning about the growing field of subrogation claims. On Saturday, Richard Enkelis of Pasadena , California and Stuart Blatt of Towson, Maryland will present a program on advanced post-judgment collection techniques and strategies. Finally, the CRS and the Bankruptcy Section are co-sponsoring a "Bankruptcy Boot Camp" program for creditors' rights lawyers who need to be able to advise clients on steps they can take to protect their rights and collect money when a debtor files bankruptcy. This will be an introductory level course and a great refresher course for CRS members who do not often appear in Bankruptcy Court. We are in the planning stages right now for programs for November in New York. As always, the Committee welcomes input on past, present and future education programs from all CRS members. We encourage you to approach us with an idea for a program or to volunteer to speak at an upcoming convention. Speaking at a convention is a great way to raise your profile in the League which can in turn lead to more business for you and your firm. Please feel free to contact one of us with your ideas. PRACTICE GROUPS – New ConnectionsBy: Rick Johanson, Esq. The Section recently established a number of Practice Groups to encourage members who are interested in particular areas of commercial law to interact. Each group will ultimately determine the nature and extent of its activity. We expect communication to be primarily via e-mail but conference calls or gatherings at CLLA meetings are possible. We hope that you will want to join one or more groups to bring new ideas and energy. The groups may provide a basis for referral of work, to share knowledge of state laws and as a vehicle to establish new contacts. Their success depends on the members At present there are nine (9) groups:
I am acting as the initial coordinator for each of the groups. You can join one or more of them by e-mailing me at rjohanson@ehjlaw.com. Get involved – get connected. The CLLA is THE NETWORK for Commercial Law. NEWSLETTER COMMITTEE REPORTThis newsletter is circulated three times per year electronically in the Spring, Summer and Fall (and via fax for those not online). Members are encouraged to submit articles of interest or letters to the editor for inclusion along with a short bio for publication. The annual Best Feature Article award is noted elsewhere in this issue. The award and gift will be presented at the CRS meeting in New York. Current co-editors are Liviu Vogel, Esq., Salon Marrow Dyckman Newman & Broudy LLP, New York, NY and Brenda Majewski, Administrator, Kohn Law Firm S.C., Milwaukee WI. Spotlight on the CRS Chair: ED FRIEDMANInterview by Liviu Vogel, Esq. Name: Edward J Friedman Residence/Hometown: Baltimore, Maryland Education: BBA Kent State University 1973, JD University of Baltimore Law School Work History: Solo Practice 1976-1990, then Partner at current firm, Weinstock, Friedman & Friedman, P.A. Family: wife: Helen; two children: Lanie (28) married 3 years, lives Indianapolis, husband Jason. Lanie is in marketing and Jason is completing a fellowship in Pediatric Gastro. Son: Jeremy (24), graduate of NYU Law School, attorney with Simpson, Thacker, Bartlett. Pending admission to New York. Helen: Legal administrator of our firm Areas of practice and specialties: Collection, and creditor rights. What year did you join CLLA?: 1981 What other offices have you held in the CLLA and Creditors' Rights
Section?: Tell us about your family and your family interests and activities?: Interested in travelling, skiing and golf. Enjoy bringing everyone together for an annual family trip. In fact my daughter met her husband on one of these cruises. What qualities do you feel that you bring to the job of Chair of the
Creditors' What goals would you like to achieve during your term as Chair of the Creditors' Rights Section?: I would hope to continue the momentum of past chairs, and leave the section at the end of my term in as good or better shape than when I came into office. If a new attorney member of the CLLA is considering joining the CRS,
what would When you're not practicing law, or tending to League matters,
what do you do for If you did not become a lawyer, what do you think would have become
your life's What one thing do you think we would be surprised to know about you
that most What is your favorite quote, or words to live by?: Eat dessert first as one never knows what is going to happen. Did you have any role models when you were growing up and in your
career in What is your favorite:
CLLA Hosting Consumer Collection ProgramsFebruary, 2008 - Chicago By: Rick Thomas, David Gamache As many of you may have heard, David Gamache and Rick Thomas are co-chairing a Consumer Collection Committee. This is an ad hoc National Committee originally commissioned by former president Sid Friedman, and approved by current president Wanda Borges:
The Committee has been working diligently for over a year and a half to accomplish this goal. With the help of numerous volunteers, and input from all the sections of the League, we are in the final planning stages for two consumer oriented programs. The first program was a 90 minute telephone seminar on consumer Bankruptcy issues. The seminar was titled Don't Close That File (Yet), held the third week of February, 2008. Cathy Vance, with assistance from the Bankruptcy Section and the Consumer Collection Committee had three great speakers lined up to discuss issues on consumer bankruptcies when there may still be hope of recovery. The second program is a one day event that will take place at the National Meeting in Chicago on Friday, May 2, 2008. The theme of the program is LEGAL COMPLIANCE, and, as currently envisioned, will provide education, roundtable discussions, panel presentations and networking opportunities. The program will be marketed to Consumer Collection Agencies, Debt Buyers and networks servicing debt buyers, Consumer Collection Attorneys and Vendors to the Consumer Collection Industry. Look for more updates soon as to the nationally known speakers and organizations that will participate in making these exciting and informative programs not only for CLLA members, but other individuals and organizations involved in the consumer collection industry. Start spreading the word now to your clients and vendors involved in consumer collections - they won't want to miss these great programs! RETAIL COLLECTIONS SECTIONBy: Stuart R. Blatt, Esq. The Federal Trade Commission hosted a workshop on October 10-11, 2007 to learn about changes in the debt collection industry and to examine how those changes have affected consumers and businesses. Targeted for discussion were the following key issues: Overview of Changes in and Affecting the Industry; Debt Collection Today: Understanding the Business; Concerns About Debt Collection: Consumers' Perspective; Concerns About Debt Collection: Collectors' Perspective; The Role of Creditors in Debt Collection; Locating the Correct Consumer and Determining the Correct Amount Owed; Credit Reporting and Debt Collection: Key Concerns. The event brought together consumer advocates, industry representatives, state and federal regulators, and other industry authorities to speak on a range of issues, including the effects of technological and economic trends on how consumer debts are collected, and the extent to which the law has kept pace with developments during the past 30 years. An FTC concern centered around the present state of the debt collection industry and the effectiveness of existing consumer protections relating to debt collection. Fact-finding and consensus-building were two of the objectives of the workshop. Panelists answered questions during the workshop identifying areas of improvement and the use of routine practices and procedures such as skiptracing, credit reporting and litigation. Panelists shared their views on legal compliance, the influence of technology, the opportunity for self-regulation and the effects of increased litigation. FTC Chair Deborah Platt Majoras in her opening remarks stated: "Debt collection plays a vitally important role in our system of consumer credit. Collecting on a debt, of course, benefits individual creditors who are repaid money they are owed. Debt collection, however, has broader economic benefits. If consumers do not repay their debts, sellers will seek to increase the prices of their goods and services to cover these lost revenues. If consumers do not repay their debts, creditors will be less willing to lend money to consumers, thereby decreasing future purchases. Debt collection therefore plays a key role in keeping prices low and ensuring that consumer credit remains widely available and affordable." Peggy Twohig, the Commission's Associate Director for Financial Practices concluded: "We are planning to do a report on this workshop. The report will summarize what we have learned. We will try to synthesize all of this information as best we can, and we will consider whether we will be making recommendations or what our next steps will be, and so you can look forward to that. I'm not going to make any promises exactly when that's going to be out, I'm afraid to, but we will be working hard on that. We will do our best. As you can tell from the work we've put into this, this is a priority, to try to sort through some of these issues, figure out what we think about it. We will be continuing to reach out to you to get further information, and I just thank you so much for all of your participation." And so I just want to close with a quote from Ethel Watts Mumford, an American novelist and humorist, once remarked that, "In the midst of life, we are in debt." "Well, judging from the past two days, truer words have never been spoken." The Federal Record on Dec. 13, 2007 reported: "The FTC and the five major federal banking regulators posted a proposed change, also known as the Furnisher Rule. The comment period expired on Feb. 11. The proposal would implement Section 312 of the Fair and Accurate Credit Transaction Act of 2003 (FACT Act), amending the Fair Credit Reporting Act. The change would give consumers greater authority to directly dispute inaccuracies in their credit report with financial institutions and other entities that furnish information to consumer reporting agencies." By direction of the Commission, Donald S. Clark, Secretary issued the following conclusion on behalf of the FTC: "After reviewing the language of the FDCPA and its legislative history as well as information contained in the Request, the Commission concludes that a debt collector does not violate the FDCPA if, after receiving written notice of a dispute, it informs the consumer that it has ceased collection efforts". Legislation and case law developments remain a prominent concern during the coming year. Topics for discussion include, card solicitations, gift credit cards, outsourcing, data breach, redaction/truncating id numbers, privacy, identity theft, file freeze, predatory lending, pay day loans, increased credit card interest rates and fees and the real estate/mortgage industry. Monitoring legislatures – federal and state, where hundreds of bills have been introduced, attorneys general opinions and decisions from federal and state courts bear a continued watch as they are filed and decided. The retail collections section is proud of the perseverance of its committee members, along with CRS support, to make a consumer law presentation possible at CLLA in Chicago. Meeting rooms have been set aside for Debt Buyers, Consumer Agencies and Attorney Networks to conduct pre-scheduled client meetings. Topics are already set for this important conference, such as FDCPA: Compliance, Tactics and Thoughts from Both Sides; a panel of industry experts will address significant issues regarding the structuring of compliance programs; How to collect on a judgment: Advanced techniques and strategies to assist the specialist with collecting outstanding judgments; Introduction to the subrogation claim enforcement process from insurer to agency to attorney including a discussion of relevant law; Common pitfalls and practice tips aimed at providing participants with knowledge to deal with the basics before the bankruptcy court; Reviewing the impact of foreclosure on the country as a whole. Please mark your calendar to attend this important event. Concluding this article, I reiterate my object of concern continues to be to reinforce the financial services industries image in the most visible and compelling mediums. We continually need to create an avenue for exchange of information and ideas and expand the industry ability to communicate critical issues and information. I will look forward to seeing you in May at the annual CLLA conference in Chicago. NOMINATIONS SOUGHT FOR 2009 AWARD OF EXCELLENCEThe Creditors' Rights Section of the Commercial Law League of America is seeking nominations for its Award of Excellence, which was established to recognize outstanding contributions in the field of law affecting creditors' rights. The first recipient of this award, in 2005, was Professor James J. White who, along with Robert Summers, published the most widely recognized treatise regarding the Uniform Commercial Code. The recipient must be a lawyer, legislator, professor of law, or judge, whose work has substantially and positively made an impact on creditors' rights. The recipient will be selected for presentation of the Award at the Annual Meeting of the League held in Chicago in May, 2009. Nomination forms are available at www.clla.org. Calendar of EventsMay 1, 2008 – May 4, 2008 Summer 2008 September 19, 2008 November 13 – 16, 2008 |