Giarmarco, Mullins & Horton, P.C. is pleased to announce that John McNew has published an article in the Real Property Law Section of the State Bar of Michigan’s e-Newsletter. The article is titled Insurance Proceeds: No Double Dips and is about the ruling in the case of Howard v. National City Mortgage (Mich App No. 323118, January 12, 2016, unpublished).
John McNew writes about how the implications of the full credit bid rule led to the predictable result, a mortgagee is not entitled to insurance proceeds for a loss occurring prior to a foreclosure sale if the mortgagee made a full credit bid extinguishing the debt. The link for the full article is: http://www.michbar.org/eBlasts/realproperty_enews
John McNew is an associate in the firm’s Business Practice Group. John concentrates his practice on corporate law, commercial transactions, mergers and acquisitions, real estate transactions, business formation, information and technology transactions and digital media issues. John’s clients include startups and small and middle market businesses.