News & Analysis as of

Limited Liability Company (LLC) Foreclosure

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

Arkansas Businesses Should Prepare for New Laws Passed by the State Legislature

The Arkansas General Assembly adjourned from its 94th Regular Session on May 1, 2023, starting a 90-day clock until acts passed by the General Assembly become the law of Arkansas. Business owners, professionals and...more

DarrowEverett LLP

Location, Location, Location: Asset Protection for LLC Founders

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A primary focus when starting a business should answer this question: What structure provides the most protection? New founders can get bogged down in the minutia about whether to choose a corporation or a limited liability...more

Cadwalader, Wickersham & Taft LLP

Title (Coverage) Not Available

Two recent decisions concerning title insurance illustrate that an insured’s negligence can result in an exclusion from coverage and that title insurers generally do not owe a fiduciary duty to their insureds....more

Ward and Smith, P.A.

Foreclosure Warning: Property Possessed but Not Owned by a Debtor May Be Subject to the Automatic Stay

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Creditors know that a bankruptcy petition automatically halts efforts to collect pre-petition debts from the debtor outside of bankruptcy.  The "automatic stay" provides fundamental protection to debtors, mandating a full...more

Fox Rothschild LLP

Creditor Pays for Violating Stay in Mastic Bay

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A recent Second Circuit opinion sets a bright-line rule: if the Debtor is named as a defendant in a pre-bankruptcy lawsuit, the automatic stay applies to halt further proceedings. Bayview Loan Servicing LLC v. Fogarty (In re...more

Roetzel & Andress

Roetzel & Andress: 2020 Appellate Year In Review

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The Appellate Law Practice Group of Roetzel & Andress represented clients in a wide variety of cases in both state and federal courts, appealing adverse trial court rulings and successfully defending lower court victories on...more

Winstead PC

Bankruptcy Court Discussed The Fiduciary Duties Owed To A Limited Liability Company And Its Creditors By Its Manager

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In In re Silver State Holdings, in a bankruptcy proceeding a trustee of a limited liability company sued its former manager for breach of fiduciary duty and another entity for conspiracy to breach fiduciary duty arising out...more

Snell & Wilmer

California Legislature Creates “Redemption Right” for Trustee Sales of Residential Properties

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On September 28, 2020, Governor Newsom signed into law SB 1079 (the “Bill”), granting a right of redemption or first refusal to purchase a foreclosed residential property to tenants, buyers intending to use the property as...more

White and Williams LLP

What’s the Standard for “Commercially Reasonable” in a Commercially Unreasonable World (Health Crisis)?

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On April 30, 2020, Judge Frank P. Nervo of the New York State Supreme Court, New York County, granted a temporary restraining order preventing a public sale of collateral securing a junior mezzanine loan, issuing an order...more

White and Williams LLP

Second Circuit Decision Addresses New York Usury Laws and Post-Default Mortgage Loan Obligations

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On March 30, 2020, the U.S. Court of Appeals for the Second Circuit affirmed several holdings of the District Court for the Eastern District of New York requiring a commercial mortgage borrower to pay default interest at a...more

Womble Bond Dickinson

Charging Orders

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A “charging order” allows a judgment creditor to receive a debtor’s share of distributions from a limited liability company (LLC) or a partnership. With the proliferation of LLCs in the last 20 years, understanding “charging...more

Williams Mullen

Money, Dirt and Steel: Spring 2017

Williams Mullen on

When Are Your Subcontractor's Employees Your Employees? In January, the Fourth Circuit Court of Appeals entered its decision in Salinas v. Commercial Interiors, Inc., ruling that a contractor and its subcontractor can be...more

Farrell Fritz, P.C.

A Pair of Unbrotherly Business Altercations Go to Trial

Farrell Fritz, P.C. on

Like most civil cases, the vast majority of business divorce disputes get resolved before trial, which is disappointing for us voyeurs since only at trial with live witnesses undergoing cross examination does one get the full...more

Pullman & Comley, LLC

Appellate Court Notes

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Supreme Court Advance Release Opinions - SC19232 - Izzarelli v. R.J. Reynolds Tobacco Co. - Plaintiff obtained a judgment against a tobacco company upon a claim that it put in additives and manipulated the nicotine...more

Pullman & Comley, LLC

Appellate Court Notes

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Supreme Court Advance Release Opinions: SC19493 - Standard Oil of Connecticut, Inc. v. Administrator, Unemployment Compensation Act - SC19493 Dissent - Standard Oil of Connecticut, Inc. v. Administrator,...more

Ballard Spahr LLP

Limited Liability Company Can Sue as “Person” Under FDCPA, Sixth Circuit Rules

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A limited liability company is a “person” that can file a lawsuit under the Fair Debt Collection Practices Act (FDCPA), the U.S. Court of Appeals for the Sixth Circuit has ruled. In Anarion Investments LLC v. Carrington...more

Tucker Arensberg, P.C.

Breaking News! Fair Debt Collection Practice Issue

The U.S. Court of Appeals for the Sixth Circuit has held that a Delaware Limited Liability Company was a “person” as defined by the FDCPA, and reversed the District Court decision which had dismissed an FDCPA claim against a...more

Pullman & Comley, LLC

Appellate Court Notes

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Appellate Court Advance Release Opinions - AC36506 - Sidorova v. East Lyme Board of Education - Due to budget cuts, the Board of Education laid off the plaintiff who was a tenured French teacher. She sued for...more

Goulston & Storrs PC

IRS Ruling Addresses LLC Eligibility for Cancellation of Debt Exception

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In new CCA 201525010, the IRS addressed the issue of whether a general “exculpatory” debt of an LLC is recourse or non-recourse for purposes of classifying debt-relief as potential cancellation of debt (COD) income. Recourse...more

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