Banking & Finance

  • Supreme Court Decision "Caught Most of Us Off Guard," Says Attorney
    2017-12-18

    Supreme Court Decision "Caught Most of Us Off Guard," Says Attorney

    Attorney Robert Smith was interviewed by Arkansas Business regarding a recent Arkansas Supreme Court decision that determined pre-dispute contractual waivers of the right to a jury trial are unenforceable under the Arkansas Constitution.

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  • Recent Court Decision Could Impact Loan Agreements
    2017-12-15

    Recent Court Decision Could Impact Loan Agreements

    In an opinion delivered on December 7, 2017, the Supreme Court of the State of Arkansas determined, for the first time, that pre-dispute contractual waivers of the right to a jury trial are unenforceable under the Arkansas Constitution. This opinion could have a significant impact on the method of the dispute resolution among parties to commercial contracts, including loan agreements between Arkansas banks and their customers.

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  • Arkansas Business Features Article by Attorney Robert Smith
    2017-06-13

    Arkansas Business Features Article by Attorney Robert Smith

    Robert Smith's article on CIBC Act compliance challenges was featured this week in Arkansas Business. According to Robert, the federal Change in Bank Control Act may be the most often overlooked — and one of the most often violated — of all banking regulations. Inadvertent violations have grown more common given the increase in estate planning-related stock transfers by shareholders planning the next generation of ownership. Complex ownership structures often make it difficult to determine whether a filing is required. A review of the act's basic requirements suggests some steps to avoid problems.

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  • News Alert: New Proposed Chapter 13 Rules Provide Traps for Secured Lenders
    2017-06-07

    News Alert: New Proposed Chapter 13 Rules Provide Traps for Secured Lenders

    A process to come up with a standard national Chapter 13 Plan has resulted in a number of proposed changes to the Bankruptcy Rules which have a target effective date of December 1, 2017. A national chapter 13 Plan has been proposed and will be mandatory unless a judicial district opts-out by adopting a “Local Form” that complies with new bankruptcy rule 3015.1. Judicial districts in Arkansas appear poised to opt-out and adopt their own local plan but the form has not yet been finalized. Attorney Harry A. Light explains the proposed rules in more detail.

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