The Texas Supreme Court, on June 20, 2014, issued its highly anticipated opinion in Ritchie v. Rupe, 2014 Tex. LEXIS 500 (Tex. 2014). Ritchie involved a claim by a minority shareholder in a closely held corporation under the Texas receivership statute, seeking to force the majority shareholders to buy-out the minority shareholder’s interest in the corporation.
Malone v. Allstate Indemnity Co.,No. 2:13–CV–00884–WMA, WL 2592352 (N.D. Al. Jun. 10, 2014)
The Northern District of Alabama finds that an insurer did not act in bad faith by denying coverage for damage caused by a house fire where investigators suspected arson, the insured made misrepresentations in bankruptcy filings, and the insurer received an uncontradicted coverage opinion from an attorney.
Much Anticipated Extraterritoriality Ruling Could Have Far-Ranging Implications
Substantial Contribution to the Case
On Monday, the U.S. Supreme Court refused to take up an appeal brought by Irving Picard, the court-appointed bankruptcy trustee charged with recovering assets on behalf of Madoff’s bankruptcy estate and distributing them to victims of Madoff’s massive Ponzi scheme.
It’s been several years since I last posted about objections to bankruptcy claims, and the topic is so important to creditors that it’s time to revisit it.
A hedge fund sued an investment bank for tortious interference based on its exclusion from participation in exit financing for a debtor. The bankruptcy court granted the investment banker’s motion to dismiss for failure to state a claim, and the hedge fund appealed.
Recently, U.S. Customs and Border Protection (CBP) took a new, creative tack in a long struggle with importers regarding application of the “deemed liquidation” statute, 19 U.S.C. § 1504, to entries subject to antidumping and countervailing duties (AD/CVD). Importers need to be aware that CBP is now taking the dubious position that it is entitled to “reliquidate” a “deemed liquidated” entry at any time, so long as it gives notice to the importer of the “deemed liquidation” and then reliquidates the entry within 90 days after the date of the notice.
On March 14 2014 the Delaware Chancery Court found RBC Capital Advisors (RBC) liable for aiding and abetting the breach of fiduciary duty of the board of directors of Rural/Metro, stemming from the sale of the company to Warburg Pincus.
While the details of the court’s decision are contained in Vice Chancellor J. Travis Laster’s 91-page opinion, several salient points are important to understand: