Stokes Law Briefs

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Another Reason to Avoid Second Deeds of Trust
Feb 02, 2018

In Centrum Financial Services v. Union Bank, decided December 17, 2017, the Court of Appeals clarified the limitations on the right of a junior lienholder to cure a default of a senior secured indebtedness. Tom Lerner reminds lenders to use caution when considering whether to foreclose on a second deed of trust.

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Accelerate With Vigor!
Aug 22, 2016

Accelerating a defaulted loan seems almost automatic. There will be times when the statute of limitations may lead to a different decision. Tom Lerner explains that the Court of Appeals holds that the decision to accelerate must be explicitly stated. It is not enough to leave it to be inferred.

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Unfinished Business - Termination of a Receivership With Unresolved Claims
Aug 02, 2016

On July 25, 2016, in Bero v. Name Intelligence, Inc., the Washington Court of Appeals held that a receivership could be terminated without resolving all timely filed claims. Tom Lerner explains how creditors who want to be sure that their claims are adjudicated in a receivership will have to take a more active role in the litigation than has typically been required.

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Shotguns, Daggers and Triggers: Escape from LLC Island!
Mar 01, 2016

The new Limited Liability Act, effective January 2016, is designed to simplify the process of entity formation and offer greater flexibility in the organizational structure. Practitioners should take this opportunity to re-evaluate their approach to advising clients on formation and management issues to account for changes in the Act.

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