The Missouri Banker featured an article in its July publication written by Spencer Fane attorneys, Heather Morris and Eric Peterson, about the Commercial Receivership Act becoming a law. In the article, Heather and Eric discuss how the act provides a complete statutory structure for the appointment of receivers, and explain how it affects banks.
Drafting of the revision was overseen by Eric Peterson and consisted of a host of Missouri’s top insolvency law professionals, including Spencer Fane attorney, Eric Johnson. The intense process took four years. Governor Jay Nixon signed Senate Bill 578 on July 13, 2016 and the bill is effective August 28, 2016.
Heather Morris is an attorney with the Spencer Fane Business Transactions & Financial Services groups. She concentrates her practice in the areas of transactional and regulatory banking matters, including mergers and acquisitions, commercial lending, workouts, bankruptcy and corporate trust.
Eric Peterson is an attorney with the Spencer Fane Financial Services group. He represents clients in bankruptcy and nonbankruptcy insolvency proceedings, such as receiverships, assignments for the benefit of creditors, commercial collection matters and out-of-court debt restructurings. He was recently appointed co-chair of the Bankruptcy Creditor-Debtor Rights Committee for the Missouri Bar.
To read more from Heather and Eric in The Missouri Banker, click here.