State Bar of Michigan committee offers program on ‘Assignment of Rents and Bankruptcy’ August 9
The Sixth Circuit Court of Appeals recently issued an important decision on the Michigan assignment of rents statute and the impact and effect of a lender exercising its rights thereunder prior to the commencement of a bankruptcy petition. The holding is that a properly perfected assignment of rents enforced prior to the commencement of a bankruptcy excludes such rents from becoming property of the bankruptcy estate.
This decision represents the first ruling by the Sixth Circuit Court of Appeals on this issue, and resolves a split amongst the Eastern District and Western District Bankruptcy Courts.
The Debtor/Creditor Rights Committee of the Business Law Section of the State Bar of Michigan will offer a presentation on assignment of rents, along with an analysis of this opinion and the effects that it is likely to have on single asset real estate debtors’ ability to reorganize. “Assignment of Rents and Bankruptcy” will take place from 6 to 8 p.m. on Wednesday, Aug. 9 at the offices of Jaffe, Raitt, Heuer, & Weiss PC, 27777 Franklin Rd., #2500, in Southfield.
The panelists will include retired Judge Walter Shapero, Robert Bassel, Gregory DeMars and Judith Greenstone Miller. The meeting will include dinner (at no charge).
To attend, e-mail Judy Calton at jcalton@honigman.com or call 313-465-7344.
Bodman attorney Jasmine Rippy elected to WBA board of directors
Jasmine D. Rippy, an associate attorney practicing in Bodman PLC’s Ann Arbor office, has been elected to the board of directors of the Wolverine Bar Association.
The new board was sworn in at the annual President’s Reception hosted by the Wolverine Bar Foundation, the Wolverine Bar Association, and the Association of Black Judges of Michigan in Detroit on Friday, June 23.
Rippy, a member of Bodman’s business practice group, represents businesses in matters involving a broad range of corporate law issues including business formation and commercial transactions. Before joining Bodman, she served as a judicial extern to Judge Jack Zouhary of the United States District Court for the Northern District of Ohio and to Judge Thomas Tucker of the United States Bankruptcy Court for the Eastern District of Michigan. During her time at the University of Toledo Law School, she was a member of the Black Law Students Association and the Public Interest Law Association.
The Wolverine Bar Association was established during the 1930s by a group of African-American attorneys. The association was organized to coordinate the energies and talents of the increasing number of African-Americans admitted to practice throughout Michigan. Since its inception, the Wolverine Bar Association assumed a leadership role in community and political activities, a precedent that continues to this day.
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