The Insured vs. Insured Exclusion re: Officer and Director Liability
Insurance policy exclusions eliminate coverage for certain acts, property, types of damage, or locations. The Insured vs. Insured Exclusion excludes coverage for claims brought against Directors and Officers by other Directors & Officers for the same company.
Landlords and Administrative Claims in Bankruptcy
Landlords are not always entitled to an Administrative Claim for non-payment of rent in a bankruptcy. When a debtor in bankruptcy rejects a contract...it ends the contractual relationship with the non-debtor counterparty - who is then left with a claim for damages.
Can a Lease Rejection be Retroactive to a Bankruptcy Filing Date?
Bill Siegel discusses In re Mallett, Inc., and the question of whether rejection of a lease could be retroactive - where breach and bankruptcy are involved.
Debts for a Partner’s or Agent’s Fraud are Still Nondischargeable, Regardless of Culpability of the Innocent Debtor
In a unanimous decision, the U.S. Supreme Court in Bartenwerfer v. Buckley, 598 U.S. 69 (2023), found that an innocent partner having no knowledge of the fraud committed by his partner can still be found to have committed fraud based on one partner being the agent of the other. [...]
Ownership Transfer Restrictions in Corporations, Limited Liability Companies, or Partnerships
Bankruptcy and restrictions on transferability of ownership interests - for entities that are closely held and can be formed in Texas under the Texas Business Organizations Code: partnerships, corporations, and limited liability companies.
Critical Vendor Treatment in Bankruptcy
Critical vendor treatment in bankruptcy is a process that allows a debtor to pay a vendor its pre-petition claim based on the idea that the vendor is so important to the debtor’s business, that ending the relationship would make it very difficult if not impossible for the debtor to reorganize.
Does a Bankruptcy Discharge Protect the Debtor’s Alter Ego ?
If a corporation obtained a discharge through a bankruptcy proceeding, can that debt be enforced against the alter egos? Bill Siegel explores a recent opinion where the U.S. Bankruptcy Appellate Panel for the Ninth Circuit faced this question.
Vendor Rights Under Sections 502(b)(9) and 546(c) of the Bankruptcy Code
Bankruptcy and Creditor's Rights attorney Bill Siegel explains Bankruptcy Code provisions that apply to vendor's rights and creditor's rights regarding distressed debtors.
Beware – Innocent Directors Found Responsible for Single Director’s Fraud
Bill Siegel looks at the In re Cyber Litigation and whether a Controlling Director's intent to defraud can be imputed to the Innocent Directors of a company's Board of Directors.
Groundbreaking U.S. Corporate Transparency Act and What Business Owners Should Know
The Corporate Transparency Act requires most small corporations, companies and limited partnerships to register "beneficial ownership information" with the Financial Crimes Enforcement Network (FinCEN).
