News & Analysis as of

Business Litigation Bankruptcy Court

Bradley Arant Boult Cummings LLP

Dude, Where’s My Liquidation?

Every election it seems like the country inches closer to cannabis being legal at the federal level. Until that day comes, however, the question of whether those in the cannabis industry can seek bankruptcy relief remains....more

Troutman Pepper

Bankruptcy Court Provides Guidance on Social Media Account Ownership

Troutman Pepper on

The U.S. Bankruptcy Court for the Southern District of Florida created a three-factor test to help determine the ownership interests of social media accounts. The court in In re Vital Pharm found that (1) documented property...more

Morgan Lewis

Delaware Bankruptcy Court Ruling on $7.2B Claim Affects Fraudulent Transfer Defense, Valuation Litigation

Morgan Lewis on

In a decision likely to have a knock-on effect for future fraudulent transfer defense and valuation litigation, the Delaware bankruptcy court recently ruled that the price agreed in the sale of an oil and gas company closed...more

Dechert LLP

Social Media is Everywhere, But Who Owns these Social Media Accounts Anyway?

Dechert LLP on

The explosive growth in the use of social media for commercial advertising, product development and customer engagement, including via “influencers,” is well known and those accounts may have significant value. However, the...more

Patterson Belknap Webb & Tyler LLP

Delaware Court Finds Texas’s Trust Fund Doctrine Lives, but Debtor’s Fiduciary Claims Dead on Arrival

A Delaware bankruptcy court recently held that Texas’s “trust fund doctrine” remains applicable for companies that have not availed themselves of Texas’s formal dissolution process.  Nonetheless, fiduciary claims by a...more

Patterson Belknap Webb & Tyler LLP

Fireworks in the Sky but not in Court: Bankruptcy Judge Takes a Practical Approach to the Ordinary Course of Business Defense

A recent decision applied the ordinary course of business defense to a preferential transfer claim where the parties had engaged in only two transactions. In re Reagor Dykes Motors, LP, Case No. 18-50214, Adv. No. 20-05031,...more

Patton Sullivan Brodehl LLP

LLC Operating Agreements Can Reduce Fiduciary Duties

LLC managers owe fiduciary duties both to the LLC and to the LLC’s members, similar to the duties owed by a partner to other partners in a partnership.  (Corp Code §17704.09.)  These include the duty of loyalty, care, and...more

Pullman & Comley, LLC

Litigation Funding for Bankruptcy Litigation Gets a Boost from Recent Appellate Decisions

Pullman & Comley, LLC on

Litigation funding has becoming increasingly common for general litigation matters, although its validity will still depend upon applicable state law.  See generally Robert Miller, J.D., Annotation, Enforcement and Funding of...more

Seyfarth Shaw LLP

New Decisions Give Further Guidance on Frustration of Purpose, Impossibility, and Related Doctrines

Seyfarth Shaw LLP on

As discussed in previous updates, courts across the country continue to grapple with the application of the legal doctrines of impossibility, frustration of purpose, and impracticability in breach of contract actions...more

Goulston & Storrs PC

T&E Litigation Newsletter - February 2017

Goulston & Storrs PC on

Several recent decisions serve as a good reminder that it is not only the Probate and Family Court that addresses important T&E issues in Massachusetts. In the consolidated matters of Hanna et al. v. Williams et al.,...more

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