A recent jury verdict in the Circuit Court of Jefferson County, Ky., highlights the importance of correctly completing consumer disclosure forms. In Brown v. Kentuckiana Auto Mart, LLC, No. 14-CI-005864, the jury awarded the purchasers of a motor vehicle damages of $3,442 plus an …
Four Morgan & Pottinger Attorneys Named Best Lawyers
Four M&P attorneys have been selected by their peers for inclusion in the 2017 Edition of Best Lawyers in America® in the practice areas of: BANKING AND FINANCE LAW - Louisville, KY John T. McGarvey M. Thurman Senn BANKRUPTCY AND CREDITOR DEBTOR RIGHTS/ INSOLVENCY AND …
Court of Appeals Adopts 1:1 Ratio for Punitive Damages in Actions Involving Sophisticated Parties Suffering Only Economic Loss
Grant Thornton, LLP v. Yung, No. 2014-CA-001957-MR 2016, Ky. App. LEXIS 164 (Ct. App. Sep. 16, 2016), which is pending before the Kentucky Supreme Court on a motion for discretionary review, involved an action by the 1994 William J. Yung Family Trust (“Trust”) against accounting …
Morgan & Pottinger Welcomes Charlie Otten
Morgan & Pottinger, P.S.C. is excited to announce that Charlie Otten has joined the firm. Charlie will support several of the firm’s practice areas including banking and finance law, business law and litigation, employment and labor law, and real estate law. “Clients …
CFPB Publishes Proposals for Revisions to the FDCPA
On July 28, 2016, the Consumer Financial Protection Bureau (the “CFPB”), under the authority granted to it by the Dodd-Frank Act, published its outline of proposals for revisions to the Fair Debt Collections Practices Act (“FDCPA”). The proposals, if enacted, would apply to …
Attorney General Issues Opinion on “Full Name” Requirement in HB 422 – KRS 382.135
Since the passage of House Bill 422 ("HB 422") in the 2016 General Assembly, the Fayette County Clerk, members of the Kentucky Banker's Association (KBA) and members of the Kentucky Land Title Association (KYLTA) have received numerous inquiries from lenders, practitioners, and …
Reminder: New Kentucky Laws Take Effect on July 15
REMINDER: New Kentucky laws passed during the 2016 regular legislative session will take effect Friday, July 15, 2016 (except for general appropriation measures and those laws containing emergency or delayed effective date provisions). New Real Property Deed Requirement Starts …
KYLTA, KBA and Fayette County Clerk Request Opinion on HB 422 – KRS 382.135
Since the passage of House Bill 422 ("HB 422") in the 2016 General Assembly, the Fayette County Clerk, members of the Kentucky Banker's Association (KBA) and members of the Kentucky Land Title Association (KYLTA) have received numerous inquiries from lenders, practitioners, and …
The Professional Service Corporation and “Qualified Persons”
When extending credit to a Professional Service Corporation (herein, “PSC”) in Kentucky, lenders should take note of important statutory distinctions between a PSC and other entity borrowers. KRS Chapter 274 sets forth specific requirements related to a “Qualified Person” that …
2016 Legislative Law Summary for the Real Estate Industry
The Kentucky Legislature has adjourned its legislative session, and several bills passed into law and taking effect July 15, 2016, will impact the real estate industry: Blighted and Deteriorated Properties – Senate Bill 230 amends a number of statutes related to how local …