Business Law

In Waldron v. FDIC, 935 F.3d 844 (9th Cir. 2019), the U.S. Court of Appeals for the Ninth Circuit held that (a) the FDIC acting as a receiver for a failed bank is a “United States agency” under Rule 4 of the Federal Rules of Appellate Procedure and therefore has 60 days in which to file a notice of appeal, and (b) a bankruptcy court lacks subject matter jurisdiction over a preference action against the FDIC unless the preference is asserted solely as an affirmative defense to a claim by the FDIC against the bankruptcy estate. Read more

This program is presented jointly by the Insolvency Law Standing Committee of the Business Law Section of the California Lawyers Association and the San Diego Bankruptcy Forum. Read more

This program is presented jointly by the Insolvency Law Standing Committee of the Business Law Section of the California Lawyers Association and the San Diego Bankruptcy Forum. Read more

In Todeschi v. Juarez (In re Juarez), 603 B.R. 610 (9th Cir. BAP 2019), the United States Bankruptcy Appellate Panel for the Ninth Circuit, in a case of first impression in the circuit, affirmed the confirmation of the debtor’s chapter 11 plan and held that exempt property is not properly included within the phrase “any property” under the absolute priority rule, which generally prohibits a debtor from retaining “any property” under a plan that does not pay creditors in full. Accordingly, the debtor did not need to provide new value for the exempt property he was retaining in order to meet the requirements of Section 1129(b) for confirmation. Read more

The U.S. Court of Appeals for the Ninth Circuit held that a trustee’s lien avoidance power extends to unperfected proceeds of consigned goods. In re Pettit Oil Co., 917 F.3d 1130 (9th Cir. 2019). Read more

This annual symposium will review case law and legislative developments in the last year, as well as virtual shareholder meetings, which many companies are considering based on the COVID-19 pandemic and social distancing guidelines. The webinar panelists include Delaware attorney Michael D. Allen, a Director art Richards, Layton & Finger. He will be discussing, among other things, recent Delaware case law developments regarding advance notice bylaw provisions and Section 220 demands. California attorney Keith Paul Bishop, a partner at Allen Matkins Leck Gamble Mallory & Natsis, will highlight decisions and legislation affecting California corporations and foreign corporations located in this state. Read more

Addressing a possible conflict between state and federal precedents, the Bankruptcy Appellate Panel for the Ninth Circuit, in Highland Greens Homeowners Ass’n v. de Guillen (In re de Guillen), 604 B.R. 826 (9th Cir. BAP 2019), held that assessment liens of a homeowners association (“HOA”) are secured claims in bankruptcy only to the extent of the amount stated in the recorded lien. HOA liens are not continuing liens unless the CC&Rs so provide. Read more

hillips v. Gilman (In re Gilman), 603 B.R. 437 (9th Cir. BAP 2019), the U.S. Bankruptcy Appellate Panel of the Ninth Circuit ruled that following a bankruptcy filing, 11 U.S.C. § 108(c)(2) does not toll the two-year period for requesting postpetition, post-judgment fees and costs under California Code of Civil Procedure § 685.080. Read more

The following published decisions may be of interest to attorneys practicing insurance law. Read more

The Corporations Committee is proposing two important changes to the California Corporations Code. These were introduced in the Senate on January 21, 2020 as SB 870 and on February 3, 2020 as SB 913. Read more