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Motion to Dismiss Trustees Bankruptcy Court

Farrell Fritz, P.C.

The Humble LLC Exculpation Clause Wins Big: Member/CEO Escapes $8M Fiduciary Claims

Farrell Fritz, P.C. on

It’s difficult to assess the potency of section 417(a) of New York’s LLC law.  The provision starts off with a seemingly broad rule: “The operating agreement may set forth a provision eliminating or limiting the personal...more

Patterson Belknap Webb & Tyler LLP

Barton Strikes Again: Nominal “Individual” Claims Don’t Excuse Non-Compliance

Joshua Jordan was the CEO of Prehired LLC (“Prehired”), a “members-only workforce accelerator.” In December 2023, Jordan logged into Prehired’s Wells Fargo bank account online. He transferred $74,000 to the account of another...more

King & Spalding

Trustee’s Fraudulent Transfer Claims Survive Motion to Dismiss in Connection with Bernie Madoff Ponzi Scheme

King & Spalding on

On March 14, 2024, the U.S. District Court for the Southern District of New York denied a motion by Citibank, N.A. for leave to file an interlocutory appeal of a bankruptcy court’s order denying a motion to dismiss fraudulent...more

King & Spalding

Aiding and Abetting Breach of Fiduciary Duty Claims Against Lender Survive Motion to Dismiss

King & Spalding on

On April 26, 2023, the U.S. Bankruptcy Court for the District of Delaware denied in part and granted in part motions to dismiss a chapter 7 trustee’s breach of fiduciary duty and aiding and abetting claims. The defendants...more

Patterson Belknap Webb & Tyler LLP

Applying the Barton Doctrine, the Fifth Circuit Deepends Its Schism with the Eleventh

In a recent per curium opinion, the Fifth Circuit recommitted to its practice of dismissing claims against court-appointed fiduciaries when plaintiffs fail to obtain permission before bringing suit.  The court rested its...more

Skadden, Arps, Slate, Meagher & Flom LLP

Delaware Court Precludes Creditors of Limited Partnership From Pursuing Derivative Claims

In several cases since the seminal 2011 Delaware Supreme Court decision CML V LLC v. Bax, which held that creditors of Delaware LLCs lack standing to pursue derivative claims, the U.S. Bankruptcy Court for the District of...more

Winstead PC

Federal District Court Refuses To Dismiss Aiding And Abetting Breach Of Fiduciary Duty Claim Against A Law Firm

Winstead PC on

In Milligan v. Salamone, the Greenberg Taurig lawfirm represented the bankrupt company when it sued a president and board member. No. 1:18-CV-327-RP, 2019 U.S. Dist. LEXIS 41009 (W.D. Tex. March 14, 2019). Greenberg drafted...more

Fox Rothschild LLP

“Law Of The Case” Doctrine Does Not Bind Bankruptcy Court When Considering Subsequent Dispositive Motions

Fox Rothschild LLP on

In a recent opinion, the Bankruptcy Court for the Eastern District of New York concluded that the “law of the case” doctrine did not bind the court to its prior ruling that a trustee had adequately alleged claims against...more

Robins Kaplan LLP

Delaware Court Rules Fraudulent Transfer Recoveries Are Not Capped At The Amount of Creditor Claims

Robins Kaplan LLP on

One of the most powerful remedies available to a judgment creditor or a bankruptcy trustee is the power to avoid and recover fraudulent transfers. Very generally, fraudulent transfers are transfers made by a debtor (1) with...more

Goulston & Storrs PC

T&E Litigation Newsletter - February 2017

Goulston & Storrs PC on

Several recent decisions serve as a good reminder that it is not only the Probate and Family Court that addresses important T&E issues in Massachusetts. In the consolidated matters of Hanna et al. v. Williams et al.,...more

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