Ninth Circuit Finds Carmack Amendment Precludes Arbitration Provisions by Cadwalader, Wickersham & Taft LLP on 5/23/2012 The Ninth Circuit’s decision in Smallwood v. Allied Van Lines, et al., No. 09-56714 (9th Cir. 2011), discusses the important interplay between federal law and private contracts containing arbitration clauses. The topic...more
Beware of Debtors Bearing Gifts: Eleventh Circuit Upholds TOUSA Bankruptcy Decision by Miller Canfield on 5/23/2012 Sleep better at night knowing that the loan you made to your borrower is supported by collateral from the borrower’s subsidiaries? You may want to keep one eye open. On May 15, 2012, the U.S. Court of Appeals for the Eleventh...more
Does your chosen jurisdiction clause extend to the arbitration agreement? by Bryan Cave on 5/23/2012 It is quite rare for an agreement to state expressly which law shall be applicable to the arbitration clause, because it normally forms part of the agreement. It has been accepted in many cases as well as in the leading...more
MERS Has Power To Assign Interest in Deed of Trust, California Appeals Court Rules by Ballard Spahr LLP on 5/22/2012 The California Court of Appeal has ruled that the Mortgage Electronic Registration Systems, Inc., or MERS, has the power, as nominee beneficiary, to assign its interest under a deed of trust. In its May 17, 2012, opinion...more
Martin Marietta Materials, Inc. v. Vulcan Materials Co., C.A. 7102-CS (Del. Ch. May 4, 2012) (Strine, C.) - May 04, 2012 by Potter Anderson & Corroon LLP on 5/22/2012 In this memorandum opinion, the Court of Chancery construed two confidentiality agreements executed by direct competitors at the outset of friendly negotiations regarding a possible business combination. Although neither of...more
Akanthos: Eleventh Circuit Denies Noteholders’ Fraudulent Transfer Claims due to No-Action Clause in Indenture by Cadwalader, Wickersham & Taft LLP on 5/22/2012 On April 25, 2012, the U.S. Court of Appeals for the Eleventh Circuit overturned a decision by the U.S. District Court for the Northern District of Georgia permitting noteholders to proceed with a fraudulent transfer suit...more
Is “Corporation” Spelt “LLC”? by Allen Matkins Leck Gamble Mallory & Natsis... on 5/22/2012 When I first started practicing law, the idea of the limited liability company had yet to be birthed. A decade later, I co-authored an article speculating on whether California would enact a limited liability company law:...more
Second Circuit Affirms Duty to Defend Under Professional Liability Policy by Traub Lieberman Straus & Shrewsberry LLP on 5/22/2012 In its recent decision in Westport Ins. Corp. v. Hamilton Wharton Group, Inc., 2012 U.S. App. LEXIS 9888 (2d Cir. May 17, 2012), the United States Court of Appeals for the Second Circuit had occasion to consider whether a...more
Action Against Workers' Comp Claims Administrator Not Covered by Insurer's Arbitration Provision, Court of Appeal Rules by Barger & Wolen on 5/21/2012 In DMS Services, Inc. v. Superior Court, the Plaintiff brought suit in California state court for breach of contract, bad faith and related claims against the third-party administrator, or TPA, responsible for managing its...more
Seventh Circuit Court of Appeals Rejects Argument That Wisconsin Corporate Law Is Part of Articles of Incorporation by Katten Muchin Rosenman LLP on 5/21/2012 The U.S. Court of Appeals for the Seventh Circuit rejected the argument of a dissenting shareholder in a freezout merger that provisions of Wisconsin’s corporate law were binding contractually on a company’s founders and its...more
Patents County Court: Case Management Directions by Jane Lambert on 5/20/2012 Case management conferences are very important in Patents County Court litigation. They present the only opportunity to stay an action or transfer it to another court. They are the occasion when the court decides the...more
Court Refuses Challenge to FINRA Rule Barring Waivers of Class Actions, Ruling that Plaintiffs Must Exhaust Administrative... by Cadwalader, Wickersham & Taft LLP on 5/18/2012 Charles Schwab & Co. v. Financial Industry Regulatory Authority, Inc., No. C-12-518 EDL (N.D. Cal. 2012), provides a new analysis in the growing body of law addressing the circumstances under which waivers of class action in...more
Just When I Thought I Was Out . . . Eleventh Circuit Rules in TOUSA that Refinanced Lenders Can Be “Pulled Back In” and Held... by Cadwalader, Wickersham & Taft LLP on 5/18/2012 On May 15, 2012, the Eleventh Circuit Court of Appeals upheld a ruling by the U.S. Bankruptcy Court for the Southern District of Florida, which required certain lenders to return $403 million in prepetition payments they had...more
Franchise Review - May 2012: Other Legislation by Osler, Hoskin & Harcourt LLP on 5/18/2012 In a perfect world, a sincere apology could help resolve a dispute quickly, restoring the good working relationship between franchisor and franchisee without litigation. But when your apology is not accepted and you end up...more
Eleventh Circuit Issues New TOUSA Decision, Upholds Finding That Upstream Guarantees Were Fraudulent Transfers by Davis Wright Tremaine LLP on 5/17/2012 In a decision with significant implications for borrowers and lenders, on May 15, 2012, the Eleventh Circuit Court of Appeals affirmed a bankruptcy court's findings that upstream guarantees and associated liens delivered by a...more