Daily Briefs

Holiday Hours

The Third Circuit Court Civil, Criminal and Family Divisions is open today for essential services only, including criminal arraignments, probation violation, failure to appear warrants, personal protection orders, parental waivers, and other emergency civil and family division matters. The County Clerk’s office will be open to accept civil and domestic relations pleadings and new case filings from 8 a.m. to 4:30 p.m. on those days.
The court will be closed on Monday, Dec. 31 and Tuesday, Jan. 1, 2013, in observance of New Year’s Eve and and New Year’s Day, and will re-open on Wednesday, Jan. 2. The emergency procedure that is posted in the Detroit Legal News every Friday should be followed for any after-hour emergency matter.

The Michigan Supreme Court, the Court of Appeals, and the State Court Administrative Office will be closed for the holidays Monday, Dec. 31; and Tuesday, Jan. 1, 2013.

The Wayne County Clerk’s Office will be closed through Tuesday, Jan. 1, 2013, and will re-open on Wednesday, Jan. 2, 2013. The following will be open today from 8 a.m. until 4:30 p.m.: Coleman A. Young Municipal Center for  Circuit Court Civil and Family Division filings (Rm. 201) and Personal Protection Orders (Rm. 928); Frank Murphy Hall of Justice Criminal Division. The Lincoln Hall of Justice Juvenile Division will be open from 8 a.m. to 12:30 p.m. only on those days. The Case Initiation Unit will be open to process filings from the Department of Human Services and Juvenile Assessment Center.

In observance of the 2012 Holiday Season, the 36th District Court will be closed to the public on Monday, Dec. 31 and Tuesday, Jan. 1, 2013. Only Criminal Arraignments will be conducted.

 

IOLTA accounts set to lose unlimited FDIC protection by year end

Unless Congress acts by year’s end, IOLTA accounts will lose the unlimited FDIC insurance protection that has been available to them since the enactment of the Dodd-Frank financial reform law.
The law, which gives unlimited protection to lawyers’ client trust accounts, has a sunset date of Dec. 31, 2012. Without congressional action, that provision will expire and IOLTAs will no longer be insured under the Dodd-Frank Deposit Insurance Provision.

IOLTAs generally qualify for pass-through coverage on a per-client basis because they are fiduciary accounts. Therefore, under federal law, each separate client for whom a law firm holds funds in an IOLTA may be insured up to $250,000 for his or her funds, the same level of coverage as any other type of FDIC-insured account.

Efforts by the American Bar Association and other groups who lobbied Congress to extend the unlimited FDIC protection have so far failed. Although Congress has not officially adjourned and lawmakers have returned to Washington for fiscal cliff negotiations, the ABA Governmental Affairs Office says it appears unlikely that lawmakers will act before the sunset date.

Further information on FDIC insurance coverage for IOLTA and other accounts as of Jan. 1, 2013, is at www.fdic.gov/deposit/deposits/unlimited/expiration.html.

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