Monthly Archives: September 2020

Maurice Wutscher’s Ralph Wutscher Inducted as Fellow of American College of Consumer Financial Services Lawyers

Sept. 25, 2020 — Maurice Wutscher partner Ralph Wutscher has been inducted as a fellow of the American College of Consumer Financial Services Lawyers.  Fellows are nominated by members of the college for their skill and expertise in the field of consumer financial services law and for their notable contributions to the promotion of learning and scholarship among their peers through lecturing and published writings.

Mr. Wutscher is based in Maurice Wutscher’s Chicago office where he focuses his practice primarily on representing consumer and commercial financial services companies, including depository and non-depository mortgage lenders, fintech companies of various kinds, credit card issuers, and loan servicers, as well as financial asset buyers and sellers, and other financial services providers. He also has substantial experience representing auto dealers and depository and non-depository auto finance companies.

He represents the lending and financial services industry as a litigator, and as regulatory compliance counsel.

The American College of Consumer Financial Service Lawyers was founded in 1996 as a professional association of lawyers skilled and experienced in handling consumer financial services matters and dedicated to the professional development and ethics of its attorneys. Membership is by invitation only. For more information, click here.

Maurice Wutscher’s Kevin Hudspeth Discusses Chapter 11 Bankruptcy Filings Under Ohio Law in Business Law Today

Sept. 22, 2020 — Maurice Wutscher attorney Kevin Hudspeth has written an article for the American Bar Association’s news magazine Business Law Today in which he discusses the likely increase of Chapter 11 bankruptcy filings by office parks and office building owners due to the COVID-19 pandemic, along with a likely rise in litigation over the proper treatment of rents from mortgaged property in business reorganizations.

In “In God We Trust, All Others Pay Cash Collateral: Can Chapter 11 Bankruptcy Debtors Use Assigned Rents for Business Reorganizations Under Ohio Law?,” Mr. Hudspeth writes, “As more employers discover that employees can adequately perform their duties remotely, they may reevaluate the need for expensive office space, which could lead to increased Chapter 11 filings by the owners of office buildings, office parks, and single-asset real estate debtors.”

“Against this backdrop, bankruptcy courts can expect increased litigation over the use of post-petition rents as cash collateral to pay administrative expenses and fund business reorganizations plans. … A common dispute in Chapter 11 bankruptcies centers around whether the assignment-of-rents clause transfers immediate ownership of rents to the lender or merely gives the lender a security interest in the rents. State law controls the issue.”

Maurice Wutscher’s Alan Hochheiser to Moderate Panel on Bankruptcy Appellate Case Law at ABA Business Law Section Annual Meeting

Sept. 18, 2020 — Maurice Wutscher bankruptcy practitioner Alan Hochheiser will moderate a virtual panel discussion on recent developments in bankruptcy appellate case law during the ABA Business Law Section Annual Meeting on Wednesday, Sept. 23, at 3 pm ET.

This year, the weeklong conference will be presented virtually. To register, click here.

A principal at Maurice Wutscher LLP, Mr. Hochheiser is the incoming chair of the ABA Business Law Section Consumer Bankruptcy Committee. He is a leading practitioner in the areas of creditors’ rights and bankruptcy law. He advises and represents businesses, regional and national banks, credit unions, equipment lessors and other lenders, as well as secured and unsecured creditors.