Case Overview

Currently representing Eventide Credit Acquisitions, LLC as debtor's counsel in a case of nationwide significance. Prior to the petition date, ECA was sued in several class action lawsuits relating to the firm's sale of a loan servicing business to a native American tribe. The primary issue in the bankruptcy case is whether tribal sovereignty and the strong federal policy favoring tribal economic development and self-sufficiency pre-empt state usury laws. In addition to the claims asserted by the consumer borrowers, ECA also has a claim of more than $26 million based on Big Picture Loans' default under the terms of a note and loan security agreement between ECA, as lender, and Big Picture Loans, as borrower.