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Mayer Brown didn't make any "mistakes" in the JP Morgan UCC Release
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Date: August 1st, 2015 12:06 PM Author: alcoholic toilet seat half-breed People don't seem to get that. I do this type of work and it would be laughable to say that the Borrower's counsel could in any way be at fault for the Lender mistakenly releasing a security interest.
ONLY STB made a mistake. If I were the people at Mayer Brown, I would sleep like a baby at night. |
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Date: August 1st, 2015 12:10 PM Author: Ruddy Den i agree that the level of fuck up on STB's part is much greater than Mayer Brown's. the guy at Mayer Brown was a little incautious, a little rushed. STB failed to review docs drafted by the borrower that released security interests, which is a pretty fucking basic part of their job. (http://www.autoadmit.com/thread.php?thread_id=2951199&forum_id=2#28456113) |
Date: August 1st, 2015 12:10 PM Author: chestnut nursing home Of course they made a mistake, but they have no fault or liability. For them and their client, It was a 180 mistake. Life works out like that sometimes. (http://www.autoadmit.com/thread.php?thread_id=2951199&forum_id=2#28456112) |
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Date: August 1st, 2015 12:11 PM Author: honey-headed indian lodge mother If they did that on purpose that would be highly unethical. (http://www.autoadmit.com/thread.php?thread_id=2951199&forum_id=2#28456117) |
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Date: August 1st, 2015 12:30 PM Author: chocolate ticket booth turdskin Explain (http://www.autoadmit.com/thread.php?thread_id=2951199&forum_id=2#28456201) |
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Date: August 1st, 2015 12:11 PM Author: charismatic crusty step-uncle's house why would a lender ever let a fucking borrower prepare a release of lien?
Also who filed the release of lien, I assume MB. |
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Date: August 1st, 2015 12:24 PM Author: alcoholic toilet seat half-breed that also. And if the lender did, they should review every last reference like they were the ones who prepared it. (http://www.autoadmit.com/thread.php?thread_id=2951199&forum_id=2#28456176) |
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Date: August 1st, 2015 12:39 PM Author: poppy rebellious range Sponsor counsel draft releases all the time. (http://www.autoadmit.com/thread.php?thread_id=2951199&forum_id=2#28456238) |
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Date: August 1st, 2015 12:40 PM Author: Misunderstood spectacular sanctuary Not at my bank it doesnt. (http://www.autoadmit.com/thread.php?thread_id=2951199&forum_id=2#28456243) |
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Date: August 1st, 2015 12:41 PM Author: poppy rebellious range Again we are talking about real banks here. (http://www.autoadmit.com/thread.php?thread_id=2951199&forum_id=2#28456250) |
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Date: July 7th, 2017 6:15 PM Author: Vivacious bawdyhouse lmao (http://www.autoadmit.com/thread.php?thread_id=2951199&forum_id=2#33724865) |
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Date: August 1st, 2015 12:27 PM Author: lascivious cordovan fanboi space isn't borrower now in breach by virtue of having terminated lender's security interest/priority? Not that lawsuit for damages will do much while there's a stay (http://www.autoadmit.com/thread.php?thread_id=2951199&forum_id=2#28456187) |
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Date: August 1st, 2015 12:28 PM Author: alcoholic toilet seat half-breed sure. but as you note, it doesn't matter. (http://www.autoadmit.com/thread.php?thread_id=2951199&forum_id=2#28456190) |
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Date: August 1st, 2015 12:35 PM Author: lascivious cordovan fanboi space right but the point is borrower's counsel caused that breach. if not for the subsequent bankruptcy proceeding, i would think that would put MB in hot water (http://www.autoadmit.com/thread.php?thread_id=2951199&forum_id=2#28456216) |
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Date: August 1st, 2015 12:35 PM Author: Misunderstood spectacular sanctuary I'm an attorney at a bank. There is a lien release group at our bank that does every lien release at my bank. They do nothing else. They are not attorneys. Outside counsel has to request lien releases from them and there is a quality control step in that after the lien release group prepares a lien release the in-house attorney on the matter has to review it and pass it in a separate system before emailing the "okay" to outside counsel that they can file it. For the life of me I do not understand how a MEGA bank could let this happen. Its an internal process failure at the bank. There's something wrong with their outside counsel procedures manual. Lien releases are the kind of thing you have to turn into a machine like process. It cant just be left to overworked junior associates. There has to be a process. (http://www.autoadmit.com/thread.php?thread_id=2951199&forum_id=2#28456218) |
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Date: August 1st, 2015 12:41 PM Author: poppy rebellious range We are talking about real banks here. Not 500K loans to a subway franchise. putside counsel prepares everything. (http://www.autoadmit.com/thread.php?thread_id=2951199&forum_id=2#28456245) |
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Date: August 1st, 2015 12:43 PM Author: alcoholic toilet seat half-breed These must be smaller loans. On $50mm+ loans outside counsel almost always does all of this. (http://www.autoadmit.com/thread.php?thread_id=2951199&forum_id=2#28456260) |
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Date: July 7th, 2017 6:09 PM Author: 180 plum site nowag (http://www.autoadmit.com/thread.php?thread_id=2951199&forum_id=2#33724832) |
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Date: July 7th, 2017 6:12 PM Author: electric principal's office Are you the MB associate or something? (http://www.autoadmit.com/thread.php?thread_id=2951199&forum_id=2#33724845) |