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Case Law Summaries

Case Law Summaries

Tennessee – Charging Order

Peach Reo, LLC v. Rice, No. 2:12-cv-02752, decided 7/11/17. The U.S. District Court, Western District of Tennessee granted a motion for a charging order against the interests of the debtor member in six LLCs. 

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Case Law Summaries

Arkansas – Authority to File for Bankruptcy

Squire Court Partners LP v. Credit Enhanced Partners LP, No. 4:16CV00935, decided 7/7/17. The U.S. District Court, Eastern District of Arkansas ruled that a general partner lacked the authority to file a petition for bankruptcy on behalf of a limited partnership where the partnership agreement required the consent of the limited partners. 

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Wisconsin – General Jurisdiction

The Segregated Account of Ambac Assurance Corp. v. Countrywide Home Loans, Inc., 2017 WI 71 (decided 6/30/17).  The Wisconsin Supreme Court held that Wisconsin courts do not have general jurisdiction over qualified foreign corporations based solely on their appointing a registered agent

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California - Foreign LLC’s Capacity to Sue

Elite Destinations, Ltd. v. JD&T Enterprises, Inc., B269316 (decided 6/27/17). The California Court of Appeal held that (1) a Nevada LLC that was a “membership travel company” that performed fulfillment services in California through an independent company was not transacting intrastate business and was not required to register to maintain its suit

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Event

Webinar: The Delaware Update

When
Thursday, August 3
Where
Internet-based Webinar
Event

Webinar: Executing the Deal - Compliance Requirements

When
Tuesday, September 12
Where
Internet-based Webinar
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Case Law Summaries

Louisiana – Application of Domestic Law to Foreign Corporation

Salemi v. TMR Exploration, Inc., 2016 CA 0567 (La. App. 1 Cir. 6/13/17).  The Louisiana Court of Appeal ruled that Sec. 12:1502 of the Louisiana corporation law, which sets forth limitations periods for filing lawsuits against officers, directors, shareholders, etc. of business organizations formed under the laws of the state does not apply to the officers, directors, shareholders, etc. of corporations incorporated in another state but qualified to do business in Louisiana. 

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