Business Law

In a published opinion arising from a Ponzi scheme bankruptcy case, the Seventh Circuit Court of Appeals (the Court) ruled that a transaction whereby a second factor paid off the first factor and received the accounts which were the first factor’s collateral property was not avoidable as a preferential or fraudulent transfer because it was not a transfer of “an interest of the debtor in property.”  Read more

California’s new climate disclosure requirements, Senate Bill 253 (SB 253) and Senate Bill 261 (SB 261), could significantly impact California’s agriculture industry. California Governor Gavin Newsom signed the bills into law on October 7, 2023, intending to increase climate transparency and accountability. The laws are the first of their kind in the United States. They will require companies doing business in California to disclose their greenhouse gas emissions and climate-related financial risks. Together, the laws will significantly affect companies across the globe who conduct business in the state, which is poised to become the world’s fourth-largest economy. Read more

In Medley, the United States Bankruptcy Appellate Panel for the Ninth Circuit (“BAP”) affirmed the bankruptcy court’s decision that a factoring agreement created a loan in favor of Precision secured by the debtor’s real estate sales commissions, and that Precision was not a “factor” that owned the debtor’s right to receive the commission. Read more

The Ninth Circuit Bankruptcy Appellate Panel (“BAP”) affirmed a non-dischargeable judgment where the creditor did not receive notice of the bankruptcy in time to file a proof of claim in a chapter 7 asset case. Read more

This webinar will discuss the benefits and pitfalls of stalking horse purchases and/or sales in bankruptcy proceedings.   Read more

In a split decision, the Fourth Circuit Court of Appeals (the Court) ruled that the bankruptcy court had related to jurisdiction to issue a preliminary injunction which prohibited asbestos claimants from pursuing non-bankruptcy court litigation against a non-debtor affiliate of the debtor.  Read more

The California Supreme Court recently ordered the approval of new Rule 8.3 (Reporting Professional Misconduct), sometimes referred to (perhaps derogatorily) as the “snitch rule.” This new Rule of Professional Conduct became effective on August 1, 2023. Read more

The Insolvency Law Committee (ILC) of the Business Law Section of the California Lawyers Association filed an amicus curiae brief in the Supreme Court of the United States in William K. Harrington, United States Trustee, Region 2, v. Purdue Pharma L.P., et al., a case arising out of the bankruptcy of Purdue Pharma, the manufacturer of OxyContin, in which Purdue Pharma and related entities filed for bankruptcy. Read more

In Coinbase, Inc. v. Bielski, 143 S. Ct. 1915 (2023) (“Coinbase”), the United States Supreme Court (the “Supreme Court”) reversed the rulings of the Ninth Circuit Court of Appeals (the “Ninth Circuit”) and District Court, holding that an interlocutory appeal of a ruling denying a motion for arbitration under § 16 of the Federal Arbitration Act (the “FAA”) stays the entire underlying litigation rather than being subject to the traditional federal discretionary stay analysis for appeals.  Read more

The Seventh Circuit Court of Appeals (the Court) reversed a district court decision which dismissed for lack of standing a purported class action lawsuit based on a violation of the Fair Debt Collection Practices Act (FDCPA). Read more