Did The Supreme Court Just Take A Sledge Hammer To Copyright s Statutory Damages? techdirt.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from techdirt.com Daily Mail and Mail on Sunday newspapers.
To embed, copy and paste the code into your website or blog:
It is generally recognized that a bankruptcy court has the power either equitable or statutory to recharacterize a purported debt as equity if the substance of the transaction belies the labels the parties have given it. A ruling handed down by the U.S. Bankruptcy Court for the Southern District of New York provides a textbook example of such a recharacterization. In
In re Live Primary, LLC, 2021 WL 772248 (Bankr. S.D.N.Y. Mar. 1, 2021), the court held that a purported loan made to a startup limited liability company by one of its members should be treated as a capital contribution because, among other things, the company was inadequately capitalized and the unsecured loan was not properly documented, bore a
Bankruptcy Court Recharacterizes Purported Loan As Equity - Insolvency/Bankruptcy/Re-structuring mondaq.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from mondaq.com Daily Mail and Mail on Sunday newspapers.
To embed, copy and paste the code into your website or blog:
Whether you represent FDCPA plaintiffs or defendants, recent decisions provide new insight on how standing issues may affect your case.
The doctrine of standing determining who is a proper plaintiff to bring a particular lawsuit seems straightforward. Most lawyers are familiar with the multi-pronged test flowing from the Supreme Court s 1992 decision in
Lujan v. Defenders of Wildlife: To have standing, a plaintiff must demonstrate an injury-in-fact, caused by the alleged wrongdoing, and capable of redress by the court.
But recent court decisions underscore the complexity of standing in the context of the Fair Debt Collection Practices Act (FDCPA). Whether you represent FDCPA plaintiffs or defendants, the cases summarized below provide new insight on how standing issues may affect your case.
In
Hafen v. Adams (In re Hafen), 616 B.R. 570 (B.A.P. 10
th Cir. 2020), a bankruptcy appellate panel from the Tenth Circuit ( BAP ) held that the bankruptcy court is the only court with subject-matter jurisdiction to decide whether a claim or cause of action is property of a debtors bankruptcy estate. As a consequence, the BAP held that the bankruptcy court abused its discretion by permitting a state court to determine whether creditors had standing to sue third-party recipients of allegedly fraudulent transfers. The decision illustrates the distinction between bankruptcy standing and constitutional standing to sue in federal courts.
Jurisdiction Over Estate Property in Bankruptcy