Today’s Ethics Lesson is brought to us from Ohio, were an attorney was suspended from the State Bar after being arrested for allegedly driving while nude. In June 2019 the Butler County Bar Association charged the attorney for violating Prof.Cond.R. 8.4(h) which prohibits an attorney from engaging in conduct that adversely reflects on their fitness
Read MoreIt has been over eleven years, but on September 18, 2020, Governor Newsom approved and adopted Assembly Bill 1885 (“AB 1885”), which dramatically increases the homestead exemption in California to at least $300,000. Under existing law, which was last amended in in 2009, an individual debtor may exempt $75,000 in his primary residence, and depending
Read MoreToday’s Ethics Lesson is brought to us by a former attorney from San Diego who was disbarred in 2016 for, among other reasons, threatening to tase opposing counsel during a deposition. The attorney was disbarred in a default judgment because he walked out of his disciplinary trial (needless to say, he scores a 10/10 for
Read MoreClients often ask why they should prepare annual minutes for their business entity. Here are four good reasons. It’s the law. California Corporations Code Section 1500 mandates that, “each corporation shall keep adequate and correct books and records of account and shall keep minutes of the proceedings of its shareholders, board and committees of the
Read MoreOn June 23, 2020, the Supreme Court of New York enjoined a secured creditor from foreclosing on its security interest. In D2 Mark LLC v. OREI VI Investments LLC, the creditor was attempting to conduct a foreclosure sale on the debtor’s membership interest in the Mark Hotel (a landmark property in Manhattan), after the debtor
Read MoreAs discussed in our earlier post, which you can read here, the Small Business Reorganization Act of 2019 (“SBRA”) created several changes to the law in order to streamline the process by which small businesses may reorganize under a Chapter 11 bankruptcy model. In addition to streamlining the reorganization process and making Chapter 11 more
Read MoreIf a business entity is having financial difficulties and is seeking bankruptcy protection, there are only two choices. Either Chapter 7, which is a “liquidation” model, or Chapter 11, which is a “reorganization” model (to learn more about the distinctions between these models, please see our Bankruptcy Basics post). However, on August 23, 2019, Congress
Read MoreThis post aims to provide a high-level overview of the three main types of bankruptcy cases: Chapter 7, 11, and 13. Chapter 7 – the “liquidation” model In every Chapter 7 case, a trustee is appointed. The job of the trustee is to liquidate the assets of the bankruptcy estate. So, if there is personal
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The Oberg Law Group wanted to take a minute to introduce our Chief Wellness Officer, Sophie. Sophie was born and raised in Agoura Hills until she found herself at the Agoura Animal Care Center (“ACC”) when she was seven. Fortunately for Sophie, this is the shelter where Madison volunteers and they hit it off right
Read MoreAn Ohio appellate court recently held in Denny v. Breawick, L.L.C., 2019-Ohio-2066, that the doctrine of piercing the corporate veil applied, and found the sole member of two limited liability companies was personally liable for a judgment. This case, although not binding in our Circuit, is a reminder of the importance for maintaining corporate formalities.
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