Business Law Insolvency Law Committee

Ninth Circuit certifies to the New York Court of Appeals questions about whether a defense of usury applies to litigation financing agreement. Read more

Corporate entity dissolved pre-petition by forfeiture under Texas law is not eligible to be a debtor in a chapter 11, subchapter V bankruptcy case. Read more

Bank's real and personal property collateral did not include equipment debtor acquired postpetition that was not proceeds or products of lender's prepetition collateral.   Read more

Trial court denied summary judgment to Amazon as defendant in a products liability action arising from a fire caused by thermostat bought from a third party through Amazon's online marketplace. Read more

By application of Tennessee law, court holds the debtor (not the debtor's estate) owned a legal malpractice claim when the malpractice occurs as a result of the filing of the bankruptcy petition. Read more

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

Summary judgment entered by a state court on fraudulent transfer claims, which a district court was required to treat as its own following removal to the bankruptcy court and withdrawal of the reference, was not appropriate based on disputed material facts and evidentiary objections that were sustained without providing a basis. 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