Tom Lerner shares his thoughts on the future of Arbitration in Seattle.
Tom Lerner discusses the policy considerations and effects of physician noncompete restrictions, including legislation considered this session that would have limited their enforcement.
On September 18, 2014, in Frias v. Asset Foreclosure Services, et al., the Washington Supreme Court held that no cause of action for wrongful foreclosure exists under the Deed of Trust Act until after a foreclosure sale occurs. Tom Lerner and Chris Graving provide analysis on why this is important to lenders.
The Stokes Lawrence Financial Services attorneys circulate bulletins about new developments in the law that affect creditor remedies. This client update discusses a lender's ability to recover against guarantors following a nonjudicial foreclosure, and the strategic decision confronting lenders in light of inconsistent appellate rulings.
On December 3, 2013, the Court of Appeals held that liability for a deficiency under a guarantee was extinguished by a nonjudicial foreclosure. Lenders considering foreclosure should re-examine the underlying deed of trust and other loan documents to determine whether the definition of "related documents" encompasses guarantees among the obligations secured by the deed of trust.
The first half of 2013 has brought a series of appellate decisions construing the nonjudicial foreclosure remedies under the Deed of Trust Act, including the first instance (in Schroeder v. Excelsior Management Group, LLC) where an appellate court vacated a sale because of the agricultural exception to nonjudicial foreclosure. Soon after, the Court of Appeals provided clear parameters when that exception may apply and also clarified the limited nature of a prohibited deficiency judgm...