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First Circuit Holds that Fifth Amendment Takings Claims Must be Paid in Full

The U.S. Court of Appeals for the First Circuit recently ruled in the Puerto Rico bankruptcy case that Fifth Amendment takings claims cannot be discharged or impaired by a bankruptcy plan. As a matter of first impression in that circuit, the Court disagreed with the Ninth Circuit and held that former property owners affected by prepetition takings must be paid in full.

In re Fin. Oversight & Mgmt. Bd., 41 F.4th 29 (1st Cir. 2022)

USA, Insolvency & Restructuring, Litigation, Dechert LLP, US Congress, Supreme Court of the United States, Ninth Circuit
Seventh Circuit Agrees With Mayer Brown Amicus Brief That $3 Million Punitive Damages Award Was Unconstitutionally Excessive

Last summer, my colleague C.J. Summers and I posted a report about Saccameno v. U.S. Bank National Association, a Seventh Circuit case in which we had filed an amicus brief on behalf of the Chamber of Commerce of the United States.

USA, Insolvency & Restructuring, Litigation, Mayer Brown, Bankruptcy, Google, California Supreme Court
Mayer Brown Submits Amicus Brief For Chamber Of Commerce In Seventh Circuit Appeal Involving Proper Application Of Punitive Damages Guideposts

Although the Supreme Court identified three guideposts for evaluating whether a punitive award is unconstitutionally excessive 23 years ago in BMW v. Gore and refined those guideposts 16 years ago in State Farm v.

USA, Banking, Insolvency & Restructuring, Litigation, Mayer Brown, Seventh Circuit
Bankruptcy Court Imposes Massively Disproportionate $45 Million Punitive Exaction, Then Plays Santa Claus With $40 Million Of It

A bankruptcy judge in the Eastern District of California recently issued a decision that is sure to raise appellate eyebrows.

USA, California, Insolvency & Restructuring, Litigation, Mayer Brown, US District Court for Eastern District of California