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Breach of Contract › Fiduciary Duty › Insolvency

Bradley Arant Boult Cummings LLP

Using Construction Lien Law to Pierce the Corporate Veil: Court Upholds Breach of Fiduciary Duty Claims Against Officers of...

Bradley Arant Boult Cummings LLP on

The corporate veil is a fundamental concept of American jurisprudence that generally shields owners and officers from the lability of the corporation. Unless the corporate veil is pierced or otherwise avoided, owners and...more

Fuerst Ittleman David & Joseph

Florida’s Insurers Rehabilitation and Liquidation Act: What Happens in Florida When Insurers Become Insolvent

Fuerst Ittleman David & Joseph on

Current state of affairs - Even before Hurricane Ian made landfall and devastated southwest Florida in September 2022, six property & casualty insurers had voluntarily declared themselves insolvent and allowed the State to...more

Herbert Smith Freehills Kramer

Debt Dialogue: August 2017 - Admitting an Inability to Pay Debts as They Become Due: What Does It Mean?

Herbert Smith Freehills Kramer on

Among the litany of events of defaults often found in indentures and other credit documents is an issuer’s admission in writing of its inability to pay its debts as they come due. Like other insolvency events of default, this...more

Herbert Smith Freehills Kramer

Debt Dialogue: April 2017 - Creditor Barred from Bringing a Derivative Action Against an Insolvent Delaware Limited Liability...

Herbert Smith Freehills Kramer on

In a recent ruling, Trusa v. Nepo (Del. Ch. April 13, 2017), consistent with prior case law, Vice Chancellor Montgomery-Reeves of the Delaware Chancery Court held that a creditor cannot bring a derivative action against a...more

Baker Donelson

"I Knew You Were Trouble": Recent Trends in Lender Liability Litigation

Baker Donelson on

Lender liability claims generally arise in one of following contexts: (i) claims seeking recovery of damage or "leverage" to accept discounted payoffs; (ii) counterclaims to foreclosure/receivership/guarantor actions; or...more

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