Bankruptcy Appeals Panel Affirms Confirmation of Chapter 11 Plan Despite Objection of Largest Unsecured Creditor
Albaad USA, Inc. v. GPMI, Co. (In re GPMI, Co.), Bankr This case involved an appeal by a creditor in a bankruptcy case that objected to the approval by the Bankruptcy Court of the debtor’s (GPMI) Chapter 11 plan. Finding no error, the Bankruptcy Appeals Panel (BAP)...
Iowa Court of Appeals Affirms Value of Husband’s Business Determined by Wife’s Expert and Includes Total Value as Marital Property
In re Marriage of Marasco, 2023. The property division provisions of their marital dissolution decree of the district court was appealed by the husband and cross-appealed by the wife. The appellate court affirmed the appeal as modified and affirmed the cross-appeal....
U.S. District Court (New York) Rules Interest Rates on Loans Are Not Usurious
Golock Capital, LLC v. VNUE, Inc., 2023 “Golock Capital, LLC (Golock) and DBW Investments, LLC (DBW; together, Plaintiffs) issued seven loans in the form of convertible promissory notes to VNUE, Inc. (VNUE). Golock and DBW have sued VNUE for breach of its...
Delaware Supreme Court Upholds ‘Entire Fairness’ of a Tesla Acquisition
In re Tesla Motors Stockholder Litig., 2023 This was an appeal of an April 2022 Chancery Court opinion. At issue was the 2016 stock acquisition of SolarCity Corp. by Tesla Inc. Tesla’s shareholders claimed that Elon Musk caused Tesla to overpay for SolarCity through...
U.S. District Court Overturns Jury Award for Consequential Damages
Appellate Court Remands for New Determination of Husband’s Earnings, Affirms No Dissipation of Assets
In re Marriage of Sommerville, 2023 Tara Sommerville (the wife) appealed the economic provisions of her divorce decree from Jamie Sommerville (the husband). She contended the district court erred in determining the husband’s earning capacity and awarding child support...
U.S. District Court Overturns Jury Award for Consequential Damages
Endless River Techs. LLC v. Trans Union LLC, 2023 The parties had entered into a development agreement and contract for services for “the joint development and commercialization of a method for providing insurers on-line, real time comparison price quotes to...
Nevada Appellate Court Affirms Value of Husband’s Business and His Separate Property Value in the Business
Mamone v. Mamone, 2023 Shane Mamone appealed from a district court order in a domestic matter. Shane incorporated his own construction company, SCM, in Las Vegas. He put forth significant effort to grow SCM, including making trips to Asia where he was able to obtain...
Bankruptcy Court Decides on Debtor Qualification as a ‘Small Business’ Under Chapter 11
In re Hillman, 2023 In this bankruptcy, ULM challenged the filing by the debtor, Michelle Corbin Hillman, that “the Debtor is ineligible to elect to proceed with her case under Subchapter V of Chapter 11 … because she is not a ‘person engaged in commercial or...
U.S. District Court Overturns Jury Award for Consequential Damages
Endless River Techs. LLC v. Trans Union LLC, 2023 The parties had entered into a development agreement and contract for services for “the joint development and commercialization of a method for providing insurers on-line, real time comparison price quotes to...