California Lawyers Association

Business Law Insolvency Law Committee

Updates from the BLS Insolvency Law Committee

Court affirmed bankruptcy court order finding a TPO and attachment lien issued without an undertaking are voidable but not void. Read more
Exculpation provisions in debtor's proposed plan of reorganization were permissible under 11 U.S.C. section 1123(b)(6) because they were carefully and narrowly tailored to achieving confirmation of the plan. Read more
Deed of trust securing an underlying debt on which the statute of limitations had run more than 10 years earlier could still be nonjudicially foreclosed. Read more
A default judgment in a case involving an accounting cause of action must comply with CCP section 580(a), which precludes relief in excess of the amount specifically demanded in the operative complaint. Read more
Taxing agency did not violate the discharge by trying to collect a restitution debt but did violate the discharge by trying to collect a penalty debt. However, the court further held that no liability arises from the violation because the creditor had an objectively reasonable basis for believing its actions were lawful. Read more
Court rejected defendant's affirmative defenses in fraudulent conveyance suit brought by Chapter 7 trustee of Ponzi scheme debtors, finding that defendant, as a successful businessman, was at least on inquiry notice to conduct a diligent inquiry that would have disclosed the scheme. Read more
Common law claims involving wire transfers, including claims for negligence, conversion, and money had and received, are displaced by duties, allocation of risk, and remedies available under UCC Article 4A. Read more
California Litigation Privilege Does Not Protect Against a Fraudulent Conveyance Claim Arising Out of a Sham Dissolution Proceeding and Stipulated Judgment. Read more
State Claims for Damages Based Upon Documents Filed and Prosecuted in a Bankruptcy Case Are Preempted by the Bankruptcy Code and Rules. Read more
Lender’s Lien Is Subordinated to Receivership Certificate and Receiver’s Sale of the Property Is Confirmed Free and Clear of Lender’s Lien. Read more

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