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PACE Loans in Florida: A Lender’s Perspective

Florida’s “PACE” Program (which stands for Property Assessed Clean Energy) was created in 2010 through Section 163.08, Florida Statutes, which authorized Florida local governments to finance property improvements for energy conservation and improving a property’s resistance to storm damage.

Establishing the priority of a lender’s mortgage lien during foreclosure or bankruptcy can be challenging when the collateral is also encumbered by governmental or quasi-governmental liens with unsettled lien priority. One such problematic example is the lien priority of PACE loans. Florida’s “PACE” Program (which stands for Property Assessed Clean Energy) was created in 2010 … Read more

FAREWELL TO LIBOR: Preparing for the Effects of a Disappearing Lending Benchmark

For decades LIBOR (short for London Inter-bank Offered Rate) was one of the most commonly used benchmark interest rates for financial transactions. Derived from a daily survey of about 20 large banks, it was intended to reflect the interest rate at which banks lent to one another. However, confidence in LIBOR as an accurate reflection … Read more

Are Out-of-State Bank Accounts Out of Reach for Florida Judgment Creditors?

Are Out-of-State Bank Accounts Out of Reach for Florida Judgment Creditors?

A creditor has several tools to pursue collection from a judgment debtor. One of the most commonly used tools is garnishment of a judgment debtor’s bank account because it can be done relatively quickly and cheaply. In fact, most courts will routinely grant a motion to issue a writ of garnishment on an ex-parte basis, … Read more

Does Your Limited Liability Company Have a “Prenuptial Agreement”? (If Not, Consider Reading This)

With the emergence of the limited liability company (“LLC” or “company”) entity type, an owner, known as a “member,” can minimize or prevent setbacks that interrupt business operations that in very extreme instances, cause it to dissolve.

With the emergence of the limited liability company (“LLC” or “company”) entity type, an owner, known as a “member,” can minimize or prevent setbacks that interrupt business operations that in very extreme instances, cause it to dissolve. Similar to a prenuptial agreement in the marriage context, a properly drafted operating agreement can protect members and … Read more

Is California Dreaming or Will More Healthcare Workers Become Employees?

Is California Dreaming or Will More Healthcare Workers Become Employees?

There is no bigger industry in the state of Florida than healthcare. Hospitals, physician groups, and surgical centers provide valuable care to the citizens of the Sunshine State. For many of these businesses, the workers are independent contractors, rather than employees. However, a recent decision by the California Supreme Court is causing those in the … Read more

Changing the Playing Field: Viable Alternatives to Non-Compete Agreements

Viable Alternatives to Non-Compete Agreements

Employers seeking to prevent their employees, contractors, consultants or former partners from competing or soliciting will typically utilize a traditional non-compete agreement, either standing alone or embedded within a broader agreement. The non-compete limits a person from competing and soliciting for a specific period of time, and within a designated geographic area. However, it can … Read more