News & Analysis as of

Assignees

Can the Bare Naked Assignee Demand Access to LLC Records?

by Farrell Fritz, P.C. on

I wish I could take credit for it, but I can’t. The phrase “bare naked assignee” was coined by the preeminent scholar and LLC maven Professor Daniel Kleinberger whose massive oeuvre (not to mention his guest posts on this...more

Standing in the Shoes of a Suspended Corporation under California Law

A California Court of Appeal recently provided a reminder that under Code of Civil Procedure § 368, assignment of a right to recover money or other personal property (“a thing in action”) is subject to any defense existing at...more

Business Divorce Nation: Five States, Five Cases

by Farrell Fritz, P.C. on

It’s true that the statutory and common-law rules at play in business divorce cases can vary widely from state to state. But it’s also true that court decisions in one state can influence courts in other states, and can...more

USPTO Adds New Features to PatentsView Tool

In January, the U.S. Patent and Trademark Office announced the addition of several new features to its patent data visualization and analysis tool, PatentsView, which allows the public to interactively engage, through a...more

Supreme Court Weighs Granting Cert on Bankruptcy Issues Involving Surcharge and Voting Rights of Assignee of Insider Claim

by Bryan Cave on

The Supreme Court is considering whether to grant review of two bankruptcy cases. On October 3, 2016, the Supreme Court invited the Solicitor General to file briefs expressing the views of the United States. Because the...more

Merger does not invalidate noncompete, nonsolicitation covenants

by Kirton McConkie PC on

When corporate mergers and acquisitions take place, the parties frequently ask, “What is the effect on the acquired company’s contracts?” That was the issue in a case involving noncompetition and nonsolicitation covenants in...more

Stricter Rules for Patent Assignments in Europe

Many patent offices, including the USPTO, will record a transfer of rights on the basis of a document that has been signed only by the assignor. The European Patent Office (EPO) has traditionally followed the same practice,...more

Appellate Court Notes

by Pullman & Comley, LLC on

Supreme Court Advance Release Opinions: SC19378 - State v. Francis - SC19411 - State v. Wright - Appellate Court Advance Release Opinions: AC35949 - State v. Porter - AC36656 - State v. Gonzalez - AC36971...more

Judge Totenberg Grants Stay of Litigation Pending IPR Proceeding

by Womble Bond Dickinson on

ETS-Lindgren, Inc. (“ETS”), as the assignee of U.S. Patent No. 8,331,869 ("the '869 patent") pertaining to testing wireless devices, brought an infringement action against MVG, Inc. (“MVG”), on May 28, 2015. MVG petitioned...more

Lease Assignments to Guarantors No Longer Valid

by Reed Smith on

It is now clear that leases cannot be assigned to the tenant’s guarantor but serious issues arise out of the recent High Court case of EMI Group Limited v O&H Q1 Limited which specified that any lease assignment by a tenant...more

Madden Update – Petition Request Bodes Well for High Court Review but Raises New Questions

by White & Case LLP on

The US Supreme Court’s recent request for an opinion from the US Solicitor General to help inform the Court’s decision on whether to review the Second Circuit’s decision in Madden v. Midland Funding, LLC indicates that the...more

The AGA GAGA SAGA or The Never-ending Story? - EMI Group Limited v. O&H Q1 Limited

by Dentons on

Like a Scandinavian drama, the AGA GAGA SAGA is compelling, dark, protracted and engaging. With each new episode there is an exciting twist as new characters contribute to the plot and the viewers try and work out what it all...more

Assignee Not Liable Under TILA for Mortgage Servicer's Failure to Provide Payoff Statement, 11th Circuit Holds

by Ballard Spahr LLP on

The assignee of a residential mortgage loan is not liable under the Truth In Lending Act (TILA) for a loan servicer's failure to timely provide a payoff demand, the 11th Circuit recently held. TILA requires that a mortgage...more

Eleventh Circuit Refuses to Extend Scope of Assignee TILA Liability to Failure to Provide Payoff Balance

Ruling on an issue of first impression at the Circuit Court level, the Eleventh Circuit recently refused in Evanto v. Federal National Mortgage Association to impose Federal Truth in Lending Act (TILA) liability on assignees...more

Bibby Factors Northwest Limited v HFD Limited and MCD Group Limited: Buyers of debt beware

by Bryan Cave on

In Bibby Factors Northwest Limited v HFD Limited and MCD Group Limited the Court of Appeal held that a company whose debt has been purchased (the “Debtor”) is under no obligation to inform the purchasing party (the “Funder”)...more

11th Circuit Says Assignee Cannot File Bankruptcy for Company

An “Assignment for the Benefit of Creditors” (an “ABC”) is an alternative to bankruptcy available under California law—as well as the laws of other states. An ABC is often a more cost-efficient alternative to filing a...more

Update on Madden v. Midland: Cert. Decision Expected Soon

by Pepper Hamilton LLP on

The certiorari petition asks the court to address whether the National Bank Act continues to have preemptive effect after the national bank has sold or otherwise assigned a loan to another entity. In a petition for a...more

Will Assignee Liability Increase as FTC Seeks Comments on the Holder Rule?

by K&L Gates LLP on

The “Adam’s Rib” of assignee liability ? the “Holder Rule” issued by the Federal Trade Commission (“FTC”) in 1976 ? is up for review. Imposing liability on innocent purchasers of consumer credit loans for the legal violations...more

So You Want to Arbitrate a Chose in Action Obtained Through an ABC?

by Polsinelli on

The Court of Chancery for the State of Delaware recently issued a ruling affirming the ability of assignees in assignments for the benefit of creditors (ABCs) to assert claims against third parties originally held by the...more

11th Circuit Rules that Assignee for the Benefit of Creditors Lacks Power to File Bankruptcy Case for Assignor

by Bilzin Sumberg on

On December 17, 2015, the Eleventh Circuit Court of Appeals issued a decision of first impression, finding that an assignee for the benefit of creditors under Florida’s Assignment for the Benefit of Creditors statute (Fla....more

Sub-Assignee Has Standing To Assert ERISA Claims

The Eleventh Circuit held that a sub-assignee’s claim for payment of a chiropractor’s bills against Blue Cross and Blue Shield of Florida were within the scope of ERISA and thus determined that the district court properly...more

Torts – Effect of Howell Decision on Purchased Medical Liens

by Low, Ball & Lynch on

Anna Uspenskaya v. Clare Meline - Court of Appeal, Third District (October 28, 2015) - Howell v. Hamilton Meats & Provisions, Inc. (2011) 52 Cal.4th 541 was a landmark case in which the California Supreme Court...more

Nevada Supreme Court Opines On Scope Of Debtor’s Exemption For Stock

by Allen Matkins on

NRS 78.746 provides that, with several qualifications, the exclusive remedy of judgment creditors with respect to the stock in a relatively closely held corporation is to charge a stockholder’s shares.  To the extent so...more

City of Chicago to Tax Assignments of Mortgages

by Miller Canfield on

Recently the City of Chicago’s Department of Finance issued Real Property Transfer Tax Ruling #4, which clarifies the intent of the City’s Real Property Transfer Tax. The ruling details the application of the exemptions to...more

Orrick's Derivatives in Review - September 2015

District Court Holds that Assignee is Not Entitled to Safe Harbor Protections - On May 28, 2015, the United States District Court for the Central District of California affirmed a bankruptcy court order finding that a...more

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