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Monthly Archives: November 2020
GM Will Recall 7 Million Vehicles for Air Bag Issue Worldwide
General Motors Co. will recall 7 million vehicles worldwide with potentially dangerous Takata air bag inflators. The recall is expected to cost the Detroit automaker $1.2 billion. The National Highway Traffic Safety Administration (NHTSA) said GM must recall 5.9 million … Continue reading
Guitar Center Files for Bankruptcy
Guitar Center Inc filed for chapter 11 bankruptcy, as music lovers moved their shopping online during the coronavirus pandemic. The retailer has negotiated to have a total of $375 million in debtor-in-possession financing from its existing lenders and intends to … Continue reading
Hundreds of Companies That Got Stimulus Aid Have Failed
About 300 companies that received as much as half a billion dollars in pandemic-related government loans have filed for bankruptcy. Many of the companies, which employ a total of about 23,400 workers, say that the funds from the Paycheck Protection … Continue reading
No Mandamus Against Referral to Arbitration
When a contract has an arbitration agreement, all disputed matters under the contract are presumptively subject to determination in arbitration, except a dispute as to whether a matter is subject to arbitration, which is presumptively subject to determination in circuit … Continue reading
Action on Invoices Too Late
Statute of limitations for contract actions is five years, with exceptions that include any action for payment upon a written contract, which is ten years. Ten-year limitation could apply to an invoice stating that buyer’s signature constituted a promise to … Continue reading
Wendy’s, Pizza Hut Franchisee NPC Looks to Sell Itself to Operator of Panera Stores
NPC International Inc., the nation’s largest franchisee of Wendy’s and Pizza Hut restaurants, has a deal to sell itself out of bankruptcy to Flynn Restaurant Group LLC. Flynn, the largest restaurant franchise operator in the U.S., is offering $816 million … Continue reading
CFPB and New York Attorney General Take Action Against Debit-Collection Operation and Its Owners and Managers
The Consumer Financial Protection Bureau (CFPB), in partnership with the New York Attorney General (NYAG), have filed suit against a network of five different companies based outside of Buffalo, New York, two of their owners, and two of their managers, … Continue reading
Las Vegas Monorail Files for Bankruptcy Again as Coronavirus Shuts Service
Las Vegas Monorail Co., a transit system financed with municipal debt that serves some of the city’s marquee hotels, filed for bankruptcy for the second time in just over a decade after the coronavirus pandemic shut down service. The nonprofit … Continue reading
Damages Reduced Under MMPA
On remand, circuit judge need not make the same rulings as before remand. Plaintiff’s testimony, that plaintiff could not title her car because of defective title, did not constitute hearsay because it included only plaintiff’s first-hand experience and no out-of-court … Continue reading
CFPB Settles with SMART Payment Plan, LLC for Deceptive Sales Practices
The Consumer Financial Protection Bureau issued a consent order against SMART Payment Plan, LLC, finding that the company’s disclosures of its loan payment program contained misleading statements in violation of the Consumer Financial Protection Act of 2010’s prohibition against deceptive … Continue reading