The federal bankruptcy courts publish detailed statistics on bankruptcy filings. California has four federal judicial districts, with Fresno located in the Eastern District. The 2011-2014 bankruptcy filings for the Eastern District of California show a substantial decline, as shown in this table: E.D. Cal. total filings Chapter 7 cases Chapter 11 cases Chapter 12 …
Continue reading “Huge Decline in California Bankruptcy Filings”
Case law reflects a tension in the interpretation of fiduciary duties. One camp favors a “I know it when I see it” approach, while the more rigorous jurists seek to discern the basis for imposition of such liability. This tension is on full display in the recent en banc decision in U.S. v. Milovanovic, ___ …
Continue reading “U.S. v. Milovanovic – Ninth Circuit Adopts a Sloppy Fiduciary Standard”
The recent decision in Araiza v. Younkin (Sept. 30, 2010) 188 Cal.App.4th involved the disposition of a bank account following the death of the parent. Under the law of wills, the beneficiary named on the account would have taken the funds, regardless of contrary language in the will. Ah, but the mysterious law of estate …
In the recent decision in Holmes v. Summer (Oct. 6, 2010) 188 Cal.App.4th 1510, the court discussed the fiduciary obligations owed by a real estate broker in a sales transaction. The facts were not difficult. The broker represented the seller. According to the opinion, “the buyers and the seller agreed to the purchase and sale …
Continue reading “Holmes v. Summer – Fiduciary Duties of Real Estate Broker”
Here’s a recent case in which the result cannot be what the decedent intended. As a starting point, let’s discuss the law of wills. When a distribution is made by will (or by intestate succession), the gift is effected at the time of death. Absent a disclaimer, the recipient and his or her heirs are …
Continue reading “Weinberger v. Morris – Distribution is Not What Was Expected From Trust Agreement”
This is an updated report on the status the foreclosure crisis in Fresno County as of June 2010, based on anecdotal evidence. In a word, it’s brutal for troubled borrowers. Foreclosures Are Continuing: There does not seem to be any slowdown in foreclosures. Lenders buy in for the amount of the unpaid debt, then sell …
Attorneys Jim Weller and Alan Ytterberg published a recent article discussing an odd hybrid entity – the “private trust company.” As the authors explain, “Similar to a regulated trust company, an unregulated trust company is an entity formed under state law for the limited purpose of providing trust services to a single family.” A private …
I attended the annual Consumer Electronics Show for the 6th time in the past seven years. Here are my observations. Attendance was steady. Gambling is up. There were more people at the tables than last year. That’s two good signs for the economy. But, the Fortune 500 stayed away, which is a bad sign for …
A growing body of case law during the past 20 years has addressed the issue of whether and when corporate directors owe fiduciary duties to creditors. A California appellate court has finally weighed in on this issue, and provided clear guidance on the question. (We can only hope that the California Supreme Court will not …
Continue reading “Berg & Berg – California Obligations of Corporate Directors to Creditors”
Trial Skills: What to Say and How to Say It is a new book written by Los Angeles County Superior Court Judge Robert J. Perry. The book is 175 pages long, broken down into 28 easily-digested chapters. Explained Judge Perry, “this book is short; because most trial lawyers are too busy to read a lengthy …
Continue reading “"Trial Skills: What to Say and How to Say It" by Robert J. Perry”