Articles & Advisories
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Borrower Default: Why Commercial Lenders Should Look Beyond the Borrower
When a borrower stops making payments, lenders naturally focus on the borrower. What caused the default? Is the business experiencing a temporary disruption, or is something more serious going on? While those are appropriate questions, in many commercial default situations they are not the most important ones. From a practical creditor’s rights perspective, a more…
Maximizing Recovery After Loan Default in Connecticut: Using Security Agreements and UCC Remedies
Banks and institutional lenders routinely require borrowers to grant broad security interests as a condition of extending credit. Loan documentation often includes blanket liens on business assets, deposit accounts, equipment, inventory, accounts receivable, and other categories of personal property collateral. In many commercial transactions, the same loan is also secured by real estate through a…
Are RAC Auditors Abusing Incentives to Recovery Fees?
The recent aggressiveness and persistence of Recovery Audit Contractor (RAC auditor) activities have caused medical associations, including the American Medical Association and the American Hospital Association, to allege a “bounty hunter-like” approach on the part of RAC auditors. Allegations of inaccurate and increasingly expensive audit behaviors are based partly on how RAC auditor contingency payments…
Foreign Judgment Enforcement in Connecticut: Using Prejudgment Remedies to Secure Assets
Lenders, finance companies, and commercial creditors often secure judgments against borrowers or guarantors in other states. When these debtors have assets, bank accounts, or business operations in Connecticut, creditors must first domesticate the judgment in Connecticut before proceeding with collection efforts. Many creditors assume that once a judgment is obtained elsewhere, enforcement in Connecticut is…
Deficiency Judgments in Connecticut Mortgage Foreclosures: Strategic Considerations for Commercial Lenders
In Connecticut mortgage foreclosures, entry of a foreclosure judgment does not necessarily extinguish the entirety of the underlying debt. When the value of the mortgaged property is insufficient to satisfy the debt obligation, a mortgagee may, within the bounds of statutory and procedural requirements, move the foreclosure court for a deficiency judgment for the unsatisfied…
How to Enforce a Foreign Default Judgment in Connecticut: Domestication and Jurisdictional Defenses
Default judgments present unique challenges when a creditor seeks to enforce them in Connecticut. Although Connecticut courts routinely recognize and enforce foreign judgments under principles of full faith and credit, judgments entered by default, especially those based on a failure to appear, are more susceptible to jurisdictional and due process challenges than judgments entered after…
What Every Health Care Professional Should Know Before Signing Their First Contract
A job offer in health care, whether as a physician, a certified registered nurse anesthetist, or other advanced practice clinician, often marks the culmination of years of education, training, and sacrifice. However, the accompanying employment contract often contains provisions that may limit the health care professionals’ ability to earn a fair income, attain a healthy…
Domesticating and Enforcing Foreign Judgments in Connecticut: Strategic Considerations for Creditors
Obtaining a judgment outside Connecticut is often viewed as the finish line. In reality, it marks the beginning of a distinct enforcement phase. When a judgment debtor’s assets, operations, or guarantors are located in Connecticut, recovery depends not only on domestication mechanics, but on strategic decisions made before and during the enforcement process. While Connecticut…
Connecticut Foreclosure Alternatives: Deeds in Lieu and Short Sales for Mortgage Lenders
When a borrower defaults, foreclosure is often the default response. In Connecticut, however, foreclosure is not always the most efficient or economically sound path to recovery. Prudent mortgage lenders therefore should evaluate foreclosure alternatives as part of a broader recovery strategy focused on speed, cost control, and risk mitigation. Two of the most common alternatives…