Buyer Beware: The Utility Of Acquired Claims May Be Limited By The Purity Of The Buyer’s Motive

The American Bankruptcy Institute recently published Mr. Glasser’s summary of a recent decision by the Ninth Circuit BAP. Click here to view the original article. Citation:  Beal Bank USA v. Windmill Durango Office, LLC, US Trustee, DP Air Corp., BAP No. NV-11-1728-DKiPa, NV-11-1737-DKiPa (Related appeals) (B.A.P. 9th Cir. July 6, 2012) Ruling:  The bankruptcy court did not abuse its discretion by …

Fiduciary Duties of Members of Colorado LLCs

The limited liability company (LLC) enabling statutes in some states expressly set forth affirmative duties that LLC members owe to one another.[1]  Other state LLC enabling statutes expressly negate such duties.[2]  The Colorado Limited Liability Company Act[3] is silent as to whether LLC members owe a fiduciary duty to one another.  No published Colorado opinion has yet addressed this issue.  When …

Are Law Firms Keeping Pace With The Rate Of External Change?

Today, the Washington Post is reporting that the venerable law firm of Dewey & LeBoeuf has inched at least one step closer to bankruptcy.  Click here for the Post article.  If the firm cannot negotiate a merger with Patton Boggs or SNR Denton, the Post article suggests that the end is near.  And the departure of top-shelf partners from Dewey & …

A Survey Of State Law Regarding Forum-Selection Clauses

Introduction Often companies that contract with parties in various states are faced with litigation across various forums.  Being sued in federal and state courts across the United States can be expensive, time consuming and disruptive.  To help minimize this problem, businesses sometimes include in their contracts forum-selection clauses, which mandate that any litigation or arbitration be brought in a specific …

Bankruptcy Courts Largely Silent On Whether They Can Police Their Own Limited Authority Under Stern V. Marshall

Almost a year has passed since the Supreme Court issued its landmark decision in Stern v. Marshall.[1]  And courts and commentators are all over the map about the limits that Stern placed on the bankruptcy courts’ authority.  Despite extensive published discourse regarding Stern’s constitutional importance, however, almost no one seems to have addressed a more basic question: who is responsible for policing the constitutional limits …

In Re: C.W. Mining Company, D/B/A Co-Op Mining Company, Debtor. Standard Industries, Inc.: C.O.P Coal Development Compant V. Aquila, Inc.: Kenneth A. Rushton, Trustee; C.W. Mining Company

(Originally posted to http://volo.abi.org/circuits/10th by Dan Glasser) Stay violation sanctions, authorized under 11 U.S.C. 105, may include monetary and non-monetary relief. To the extent that monetary sanctions are at issue, such relief is available under Bankruptcy Rule 9014 and no adversary proceeding is required under Bankruptcy Rule 7001. For purposes of civil contempt, constitutional due process merely requires notice and …