In a recent bankruptcy action, the Court of Appeals for the Seventh Circuit (which covers Illinois, Indiana and Wisconsin) stripped a bank's senior secured creditor status, reducing it to an unsecured creditor. The Court held that the bank was on "inquiry notice" of...
Wisconsin has a new law which prohibits lawsuits against financial institutions to enforce oral promises or commitments. With several important exceptions, the effect of the new law is that all agreements between lenders and borrowers must be in writing. Put another...
The Wisconsin Court of Appeals recently held that an "as-is" clause in the contract between a bank selling a foreclosed property and a buyer did not, as a matter of law, relieve the bank from liability under Wis. Stat. § 100.18(1) for its deceptive representation in...
As we've reported in the past, the U.S. Department of Labor (DOL) has been working for some time on an overhaul of the rules governing overtime exemptions and employee classification rules. While those changes are still forthcoming, the DOL recently signaled that the...
The Wisconsin Court of Appeals has recently ruled that a bank was not entitled to summary judgment of foreclosure because the bank failed to submit adequate proof that it was the current holder of the promissory note from its borrowers. The bank attached an...
Stroud, Willink & Howard is pleased to announce that Douglas C. Scriver has joined the firm as associate attorney. A Minnesota native, Doug attended the University of Wisconsin-Madison as an undergraduate and law student. Prior to joining Stroud, Doug spent time...
The IRS has announced the annual inflation adjustments for the 2016 tax year as well as other 2016 tax changes resulting from recently passed legislation. The following table gives you a general overview of the 2016 adjustments and changes. As always, you should...
Can a business make money and make a difference? During the holiday season, some may be considering how they can incorporate charitable goals into their lives and businesses all year long. Historically, a dichotomy existed between nonprofit and for-profit...
Stroud, Willink & Howard is pleased to announce that Jennifer M. Luther and Diana M. Eisenberg have joined the firm as associate attorneys. Jennifer grew up in nearby Edgerton, Wisconsin, and attended the University of Wisconsin as both an undergraduate and a law...
If you are the owner of one or more Individual Retirement Accounts, you must begin receiving Minimum Required Distributions from the aggregate of your Accounts after you attain age 70½. You must receive your first Minimum Required Distribution on or before April 1 of...
