HOW BORROWERS CAN RESCIND CERTAIN LOAN TRANSACTIONS POTENTIALLY TO BE REVIEWED BY U.S. SUPREME COURT

The United States Supreme Court is entertaining two different petitions filed by home borrowers seeking to exercise their rights under the federal Truth-in-Lending Act. This law gives a borrower the right, under 15 U.S.C. § 1635(a), to “rescind the transaction until midnight of the third business day following . . . the delivery of the…

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Brookstone in Bankruptcy Granted Financing as it Pursues Sale

Few nationally-known chains have attracted lovers of sleek gadgets like Brookstone. From massage chairs to modern electronic devices, shoppers at malls could always find reasons to fritter away idle moments perusing and, in some cases, using their merchandise in its stores.   Unfortunately for Brookstone, Inc. downward sales figures necessitated it file Chapter 11 bankruptcy.…

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