Category Archives: News

10 Nov

Biz Brief: Homestead Exemption Increased for California Debtors

It 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

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27 Aug

Biz Brief: What is “Commercially Reasonable” During a Pandemic?

On 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

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23 Jul

Biz Brief: Recent Case Affirms the Importance of Corporate Formalities for LLCs

An 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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13 Jul

Biz Brief: Force Majeure Clause Triggered by COVID-19

On June 2, 2020, an Illinois bankruptcy court considered the force majeure clause in a restaurant’s lease.  In re Hitz Restaurant Group, 2020 Bankr. LEXIS 1470.  The court held that the force majeure clause was triggered by the government mandated shutdown order due to COVID-19 and thus restricted the amount of rent that the tenant

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20 Sep

Scam Letter Reported by the Secretary of the State

Be aware that a scam letter which looks like it was sent from the California Secretary of State is being circulated to California corporations, and those doing business in California. The letter requests that the entity pay $49.50 to obtain a “certificate of status.”  However, the payment request is a scam because no corporation

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