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Director Fiduciary Duty and Liability After a Leveraged Buyout
Bill Siegel explains In re nine West LBO Securities Litigation and the proposition that liability may attach to the company’s old board of directors even though they are not members of the new board and were not involved in any of the alleged misconduct.
Settlement Agreements Can Be Held Nondischargeable Debts in Bankruptcy
Prior to filing bankruptcy, a debtor settled an assault claim by agreeing to pay the victim/creditor in installments -- up to a point. Bill Siegel looks at Hilgartner v. Yagi (In re Hilgartner) and whether collection costs and interest are dischargeable
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 […]
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).
Cowles Thompson Successful in Enforcement of Foreign Arbitral Award
Cowles Thompson obtained recognition and enforcement of a foreign arbitral award under the Convention on Recognition and Enforcement of Foreign Arbitral Awards.
Is Commercial Lease Termination a Fraudulent Transfer? Circuit Courts Differ
Bill Siegel looks at whether commercial lease termination is a fraudulent transfer - and the differing outcomes in the Seventh and Third Circuit Courts of Appeals.
The Texas Two-Step is Alive and Well…But a Judge Dismissed the J&J Bankruptcy Absent Financial Distress
Remember the Texas Two-Step? Well, it is alive and well, but lessons can be learned from the dismissal of the LTL Management, LLC bankruptcy.
Background
(Bill Siegel first discussed this J&J […]
Nondischargeable Debt: Corporate Officer Cannot Hide Behind Corporate Shield on Claim Based on Fraud
[Regarding: Glencove Holdings, LLC v Bloom (In re Bloom), No. 22-1005 (10th Cir. July 12, 2022)]
The Tenth Circuit Court of Appeals recently affirmed the bankruptcy court and bankruptcy […]
District Court Criticizes Bankruptcy Judge for Approving Far-Reaching Third-Party Releases and Addresses Venue Shopping
A U.S. District Court judge in the Eastern District of Virginia1, Richmond Division, set aside confirmation of a Chapter 11 plan that contained “extremely broad third-party (non-debtor) releases.” […]
Cowles Thompson Prevails in Second Appeal
Mike Northrup and Sim Israeloff prevailed in a second appeal filed by the opponent with the Dallas Court of Appeals. Our client, a business that sells health-conscious, hemp-infused food and […]
Cowles Thompson Achieves a Take-Nothing Verdict in an FLSA Suit Involving a Nanny/Childcare Wage and Hour Dispute
Dallas, TX (August 1, 2022) – Casey Erick and Bill Siegel successfully obtained a take-nothing jury verdict after a two-day trial where our clients, a husband, and wife, were sued […]
