Apr. 24, 2010

TRIPP SCOTT’S STEPHANIE ALEXANDER AND BRADY COBB WIN GROUNDBREAKING APPEAL FOR THE LIFE INSURANCE SETTLEMENT ASSOCIATION

Appeal upholds May 2009 ruling

FORT LAUDERDALE, Fla., April 24, 2010 – Tripp Scott today announced that Stephanie Alexander, director, and Brady Cobb, associate, recently won an appeal in Florida on behalf of its client, Life Insurance Settlement Association (LISA).

The appeal upheld a ruling from May 2009 that found that Florida insurance regulators overstepped their authority in seeking transaction information from other states.  In that case, the Florida Office of Insurance Regulation had wanted to create a rule, 690-204.030, that would have required viatical insurance settlement providers to file voluminous and private financial and business information.  The rule was ultimately found an impermissible exercise of legislative authority and therefore invalid. 

About Tripp Scott

Since its inception in 1969, Tripp Scott has served the legal needs of established and growing businesses, as well as individual clients and their families. The multi-disciplinary firm represents a diverse mix of publicly traded corporations and privately held companies with operations in Florida and around the country. Tripp Scott provides legal and business counsel to clients in the areas of corporate, litigation, aviation, finance and tax, healthcare, real estate, bankruptcy, environmental and entrepreneurial business. For additional information, call (954) 525-7500 or visit the firm’s Web site at www.trippscott.com.

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Fresh


What hurt Detroit? (Hint: It wasn't hard work or capital)

(An op-ed in Fox Business)

It’s said that a conservative is a liberal who has been mugged by reality.

So it is both fitting and appropriate that the next round of presidential debates is taking place in Detroit, which has been assaulted with the real-world consequences of two generations of liberal Democratic rhetoric and misrule.

Memo to Democrats: Freedom and Education are Inextricably linked

(An op-ed featured in the Miami Herald)

The Democrats’ two nights of debate blather in Miami were astoundingly lean on two essential subjects — freedom and education. And the debates were especially lean given how the very state where they gathered is proving that freedom and education can work together to cost-effectively deliver real results – including in Miami-Dade County.

 

COMMERCIAL LENDERS AND TRADE CREDITORS OF THE COMMERCIAL CONSTRUCTION INDUSTRY – A NEW COURT RULING THAT ALTERS THE RIGHTS TO RETAINAGES.

When a construction contractor defaults on a loan with its lender, and, at the same time, a surety bond issuer is required to pay on a claim for the construction project, there has been some legal uncertainty as to the entitlement to any retainages at the conclusion of the construction project when the general contractor has entered a bankruptcy proceeding. A bankruptcy judge has issued a very detailed legal opinion on the topic of priorities as to retainage which will likely be widely followed by bankruptcy courts throughout the country which is important and significant for all lenders, trade creditors and suppliers of those in the commercial construction industry and issuers of surety bonds. 

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