News & Analysis as of

Purchase Agreement Appeals

ArentFox Schiff

Breaking: Third Circuit Declares Mallinckrodt’s Future Royalty Payment Obligations Dischargeable – Caution, Warning, and Options

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On April 25, the US Court of Appeals for the Third Circuit issued its precedential opinion in Mallinckrodt v. Sanofi-Aventis, Case No. 23-1111, reminding everyone that “creditors take on risks” when it ruled that the debtor...more

Harris Beach PLLC

Second Circuit weighs in on discovery "for use" in foreign litigation

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Section 1782 of Title 28 of the United States Code permits a federal district court, “upon the application of any interested person,” to order a person within its jurisdiction “to produce a document or other thing for use in...more

Mitchell, Williams, Selig, Gates & Woodyard,...

Value of Stock Included Life Insurance Proceeds Intended for Redemption of Stock

The Eighth Circuit Court of Appeals recently affirmed the decision in Connelly vs. United States, holding that the fair market value of stock in a closely-held corporation, for purposes of valuing that stock held by a...more

Freiberger Haber LLP

Fraudulent Inducement, Merger Clauses and Duplication

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A couple of months ago, we examined NW Media Holdings Corp. v. IBT Media Inc., 2023 N.Y. Slip Op. 30875(U) (Sup. Ct., N.Y. County Mar. 22, 2023) (here), a case in which a lower court addressed the question whether the...more

Snell & Wilmer

Recent Utah Court of Appeals Opinion Makes Integration Clauses Nearly Bullet Proof

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Construction relationships are usually governed by multiple contracts, such as various form AIA contracts, addenda, real estate purchase contracts, and financing agreements. Scores of different entities can be involved. A...more

Butler Snow LLP

Contractual Waivers of Punitive Damages are Enforceable Under Mississippi Law (at Least Sometimes)

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In 4-Way Electric Services, LLC v. Huntcole, LLC, __ So.3d __, 2023 WL 4114332 (Miss. June 22, 2023), the Mississippi Supreme Court considered a dispute between the sellers and buyer of a business that refurbishes electric...more

McDermott Will & Emery

Don’t Stand for It—Collateral Estoppel and Standing

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In a series of related cases, the US Court of Appeals for the Federal Circuit affirmed two decisions from the US District Court for the District of Delaware regarding collateral estoppel on standing issues and reversed a...more

Shutts & Bowen LLP

Drawn-out negotiations over purchase agreement result in extensive litigation

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A recent case weighed the extent to which a purchaser was able to negotiate terms when exercising a purchase of property under an option in a lease. The litigation began when, after the tenant/buyer exercised its purchase...more

Sheppard Mullin Richter & Hampton LLP

Buyer Beware: Tenth Circuit Issues Decision Emphasizing Critical Need for Employment Diligence

A recent decision from the Tenth Circuit Court of Appeals highlights some of the pitfalls of entering into commercial transactions without conducting thorough employment diligence – even in the asset purchase context....more

Patton Sullivan Brodehl LLP

Sometimes Real Property Rights Can be Adjudicated in a Criminal Case Where the Property Owner is Not Even a Party

Owners of real property generally understand that their property rights can be impacted by litigation in which they are a party. However, what’s less clear, but perhaps equally important to understand and guard against, is...more

Pillsbury Winthrop Shaw Pittman LLP

The Need to Be Deliberate about Fraud Carve-Outs

Express Scripts: Delaware Supreme Court holds that an otherwise undefined “deliberate fraud” carve-out to an indemnification provision is limited to intentional fraud and does not include recklessness. Specific provisions...more

Bradley Arant Boult Cummings LLP

Contractor Loses Effort to Bind Remote Home Purchaser to Arbitration Clause

On December 8, 2020, in Taylor Morrison of Texas, Inc. v. Kohlmeyer, a Texas Court of Appeals rejected a contractor’s appeal of a trial court order denying the contractor’s motion to compel arbitration in a home construction...more

BCLP

Settlement and Breach of Contract: Key Takeaways from Parkway

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This case concerns a company (“U.S. Home”) entering into a contract to purchase land from a limited liability company (“Purchase Agreement”) solely owned by two brothers (“Sellers”). On the same day of the purchase, U.S. Home...more

Foley & Lardner LLP

Supply Contract Update: Michigan Court of Appeals Affirms that a Requirements Contract Need Not Be Exclusive (Cadillac Rubber &...

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On February 11, 2020, the Michigan Court of Appeals issued a significant decision that impacts manufacturing supply contracts – especially those in the automotive industry – holding that a buyer may enforce a supply contract...more

Carlton Fields

The Game of Forfeiture: Fumbling the Ball and How the Court May Recover It

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In the spirit of the upcoming Super Bowl, it is important to keep in mind certain rules of play regarding forfeiture of arguments in federal courts of appeals. The Tenth Circuit reiterated two such rules in recent opinions....more

Cozen O'Connor

Fifth Circuit Affirms Application of Securities Exclusion

Cozen O'Connor on

On July 30, 2019, the U.S. Court of Appeals for the Fifth Circuit, in Gleason v. Markel American Insurance Company, ---Fed. Appx. ---, 2019 WL 3437642 (5th Cir. 2019), affirmed a district court’s holding that, because a...more

Dentons

Sellers Beware: Failure to Disclose Known Defects When Selling Real Estate Could Cost You

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Last month, the Iowa Court of Appeals issued an opinion in the case of Robinson v. Welp, which serves as an important reminder to sellers to disclose all known problems affecting a home or face the potentially expensive...more

Winstead PC

Because Fraud By Nondisclosure Cannot Occur After A Transaction Is Consummated, Employees Generally Do Not Owe A Duty To Disclose...

Winstead PC on

In CLC Roofing v. Helzer, a roofer purchased shingles from a seller and stored them on the seller’s property. No. 02-17-00229-CV, 2019 Tex. App. LEXIS 5927 (Tex. App.—Fort Worth July 11, 2019, no pet. history). ...more

McGuireWoods LLP

2nd Circuit Suggests Precise Calculation of Damages Not Needed When Applying Contractual Damages Caps

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Purchase agreements commonly include contractual limitations on the potential liability of breaching parties, absent fraud or other wrongful behavior. These “damages caps” generally set a party’s liability at a fixed amount...more

McDermott Will & Emery

Antitrust Enforcement Update: Spotlight on Physician Transactions

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At both the state and federal level, antitrust enforcement agencies continue to pursue successful challenges to physician practice transactions. This article summarizes two recent enforcement actions, as well as a new state...more

Latham & Watkins LLP

English Court of Appeal Clarifies Test for Determining Jurisdictional Challenges

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Applicants challenging jurisdiction must satisfy a single three-limbed test, rather than establish a ‘good arguable case’ and ‘better of the argument’. The English Court of Appeal has clarified the correct test to be...more

Burr & Forman

SC body bag noncompete case exhumed, revisited

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Two years ago, we wrote about a noncompete decision in which a special referee found a business seller had breached a sales agreement by violating both a noncompete covenant and an exclusive sales provision contained in the...more

Burr & Forman

Non-Competes in the Employment Context Revisited

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In 2016 we wrote about a non-compete decision where special referee found that a seller of a business had breached a sales agreement by violating both a non-compete covenant and an exclusive sales provision contained in the...more

Parker Poe Adams & Bernstein LLP

S.C. Supreme Court Says 150-Mile Radius Reasonable for Sale of Business Noncompete

South Carolina courts evaluate the enforceability of noncompete provisions executed in the employment context and in connection with the sale of businesses under the same reasonableness test. To be enforceable in South...more

Polsinelli

Missouri Appellate Court Explores Legal Remedies after Failed Business Purchase, Joins the Trend of State Court Exploring the...

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A recent court case from Missouri’s Eastern District Court of Appeals provides insight on the intersection of declaratory judgments, legal damages, and equitable relief, particularly in disputes over complicated business...more

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