Business Law

Summary: The Second Circuit has held that the FTC was empowered to force a corporate officer to disgorge $11 million, his companies' gross revenue, as a result of the corporations' fraudulent debt collection practices. [Federal Trade Commission vs. Moses, 2019 Westlaw 166011 (2nd Cir.).] Read more

Summary: A bankruptcy court in Delaware has held that a consignor whose financing statement had lapsed nevertheless prevailed over an inventory lender due to the lender's actual knowledge of the existence of a consignment relationship. [In re TSAWD Holdings, Inc., 2018 Westlaw 6839743 (Bankr. D.Del.).] Read more

Summary: A bankruptcy court in Delaware has held that an assignment of a bankrupt estate's avoidance claims was not champertous because the assignees were creditors of the estate, rather than third-party strangers, and because they promised to remit the net recovery to the estate. [In re Pursuit Capital Management, LLC, 2018 Westlaw 6841364 (Bankr. D. Del.).] Read more

The New Normal: Mastering Modern Day Client Communication is a program presented by the Solo and Small Firm Section and the Business Law Section on Friday, May 17, 2019. Learn more about our program and we hope to see you there. Read more

Summary: The First Circuit has held that although the original financing statements pertaining to a $2.9 billion bond issuance failed to describe the collateral, the bonds were properly secured because the subsequent amendments to the financing statements eventually cured the defects. [In re Financial Oversight and Management Board for Puerto Rico, 2019 Westlaw 364029 (1st Cir.).] Read more

Summary: The Fifth Circuit has held that when a transferee is on inquiry notice of fraudulent behavior on the part of the transferor, the “good faith” defense under the UFTA is destroyed, even if an inquiry by the transferee would have been futile since the transferor’s scheme was so complex. [Janvey vs. GMAG, LLC, 2019 Westlaw 141107 (5th Cir.).] Read more

Presented by the Solo and Small Firm Section and the Business Law Section Friday, May 17, 2019 The Colleges of Law—Santa Barbara Campus20 E. Victoria StreetSanta Barbara, CA 90017 Earn 3 MCLE Credit Hours; Including 1.0 Hour of Competency. Attend either in-person in Santa Barbara, or from your office via an online webcast. >> Online Registration (In-Person) >> Webcast Registration (Discount included!) Brochure | Registration Form | Schedule | Essential Info Sponsors Program Sponsors JAMS Annual Sponsors Law Office of… Read more

The Second Circuit has held that an arbitration clause contained in a consumer contract was unenforceable because the provision was so obscure that it never became part of the contract at all. [Starke v. SquareTrade, Inc., 2019 Westlaw 149628 (2nd. Cir.).] Read more

A bankruptcy court in Illinois has held that a "silent second" clause contained in a subordination agreement barred a junior creditor from conducting discovery in aid of a bankruptcy trustee's objection to a senior creditor's claim against the debtor. [In re Argon Credit, LLC, 2019 Westlaw 169315 (Bankr. N.D. Ill.).] Read more

Summary: A California appellate court has held that a holdover tenant cannot invoke a right of first refusal that was contained in an expired commercial lease. [Smyth vs. Berman, 2019 Westlaw 156761 (Cal.App.).] Read more