The Economic Loss Doctrine: A Valuable Shield for Lenders
June 6, 2025
Lenders have likely encountered situations where borrowers push back against collection efforts. Sometimes, they may even accuse you of causing them harm through…
News + Insights
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Alternatives to Registering a Security Offering
May 20, 2022
There are many ways for a company to raise capital. Two common ways are for the principals to inject their own cash or arrange…
Firm News
Ward and Smith Welcomes Commercial Real Estate Attorney Cameron Winfrey
April 4, 2022
Cameron Winfrey has joined the Raleigh office of Ward and Smith’s Real Estate group. He limits his practice exclusively to commercial real estate ventures…
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A Summary of Bank-Related Provisions of President Biden’s July 9th Executive Order Promoting Competition
July 12, 2021
On July 9, 2021, President Joseph R. Biden, Jr. signed an executive order “on promoting competition in the American economy” (the “Order”). The White…
Firm News
Veteran Banking Attorney B.T. Atkinson Returns to Ward and Smith
April 22, 2021
We are pleased to announce veteran business attorney B.T. Atkinson has re-joined Ward and Smith. He started his career with the firm in 1992…
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Faith-Based Organizations: Guidance for Eligible Paycheck Protection Program Loans
April 13, 2020
Faith-based organizations, including houses of worship, and entities that provide services that are religious in nature, are eligible Paycheck Protection Program loan applicants as…
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Updated Business Affiliation Rules: Key Information for Paycheck Protection Program Borrowers
April 9, 2020
In the last few days, the Small Business Administration (“SBA”) has published further guidance on the Paycheck Protection Program (“PPP”) Business Affiliation Rules, which we…
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Best Practices When Liquidating Real Estate-Secured SBA Loans
September 25, 2019
For several years, the United States Small Business Administration (SBA) has experienced continuous growth with its flagship 7(a) and 504 business loan programs. For…
Firm News
Ward and Smith Recognized as a “Go-To Thought Leader”
January 8, 2019
The National Law Review (NLR) recently honored Ward and Smith with the Go-To Thought Leadership Award for “coverage of North Carolina real estate matters, including litigation,…
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You Can’t Play Hide-And-Go-Seek in Chapter 11
December 19, 2018
In a Chapter 11 bankruptcy, the debtor attempts to reorganize its affairs in a Chapter 11 Plan. When the debtor files its proposed Plan,…
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Lenders: Take a Hint! Forbearance or Modification Agreements Should Contain Specific Waiver Language To Protect Against “Regulation B” Claims
November 9, 2018
Lenders must comply with a constantly changing series of State and Federal laws and regulations. When loan relationships sour, and lenders seek to collect,…
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Should You Bank a Virtual Currency Business?
September 28, 2018
Virtual currencies like Bitcoin and Ethereum have spawned many types of businesses that need banking services. Many banks “de-risk” — do not provide banking…
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My Note and Deed of Trust Have Different Dates. Do I Have a Problem?
September 26, 2018
Consider this scenario: You loan money to a borrower. You intend to secure the loan with a deed of trust encumbering real property. Your…
Firm News
Attorney Trip Coyne Attends “Token Summit III”
May 31, 2018
In May 2018, attorney Trip Coyne attended the Token Summit III in New York City. The bi-annual event took an in-depth look at the…
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Can I Secure a Loan with Bitcoin? Part III
May 18, 2018
In my previous articles, I discussed the challenges of using Article 9 of the Uniform Commercial Code (“UCC”) to create and perfect a security…
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Can I Secure A Loan with Bitcoin? Part II
April 6, 2018
In my previous article, I discussed the challenges of using Article 9 of the Uniform Commercial Code (“UCC”) to create and perfect a security…
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Can I Secure a Loan with Bitcoin? Part I
March 16, 2018
Each day seems to bring another story about Bitcoin, Ethereum, Litecoin, or another virtual currency. If virtual currencies continue to grow in popularity, it’s…
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New Bankruptcy Rules that Creditors Need to Know and Follow
December 11, 2017
On December 1, 2017, several changes to the Federal Rules of Bankruptcy Procedure took effect. The changes involve consumer cases under Chapter 13 and…
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Your Foreclosure Hearing Just Got More Crowded
October 9, 2017
On August 30, 2017, an amendment to North Carolina’s foreclosure statutes took immediate effect. The amended statute, Section 45-10, concerns substitute trustees under a…
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Lenders Seeking Loan Modification After Bankruptcy, Beware!
February 16, 2017
LENDERS CANNOT REVIVE A GUARANTY OBLIGATION DISCHARGED IN BANKRUPTCY WITH A SUBSEQUENT MODIFICATION OR FORBEARANCE AGREEMENT, EVEN WITH NEW CONSIDERATION; AND ATTEMPTING TO DO…
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“Let The Lender Beware!”: The Surrender Of Commercial Real Estate Collateral In Chapter 11 “Dirt For Debt” Bankruptcy Plans
May 4, 2012
Over the last several years, lenders have experienced an increasing number of defaults on loans secured by commercial real estate. More defaults are likely…
