Albaad USA, Inc. v. GPMI, Co. (In re GPMI, Co.), Bankr This case involved an appeal by a creditor in a bankruptcy case that objected to the approval  by the Bankruptcy Court of the debtor’s (GPMI) Chapter 11 plan. Finding no error, the  Bankruptcy Appeals Panel (BAP) affirmed. Facts. GPMI had been manufacturing wet wipe  Continue Reading »

Golock Capital, LLC v. VNUE, Inc., 2023 “Golock Capital, LLC (Golock) and DBW Investments, LLC (DBW; together, Plaintiffs)  issued seven loans in the form of convertible promissory notes to VNUE, Inc. (VNUE).  Golock and DBW have sued VNUE for breach of its obligations under the notes.” VNUE  admitted it had not repaid the loans but  Continue Reading »

Mamone v. Mamone, 2023 Shane Mamone appealed from a district court order in a  domestic matter. Shane incorporated his own construction company, SCM, in Las Vegas. He put forth significant effort to grow SCM, including making trips to Asia where he was able to obtain project materials at a discount.  Due to his positive relationship  Continue Reading »

In re Marriage of Marasco, 2023. The property division provisions of their marital dissolution decree of the district court was appealed by the husband and cross-appealed by the wife. The appellate court affirmed the appeal as modified and affirmed the cross-appeal. The district court was correct in not treating any part of the parties’ business  Continue Reading »

Bennetti v. Oxford Restructuring Advisors LLC 2023 The Bankruptcy Court did not err in disallowing claims against debtors based on rights in an  ESOP. The ESOP, an S corporation, was only obligated to provide ESOP members with the  right to have distributions in cash. The ESOP members did not have a right to any payments   Continue Reading »

In re Tesla Motors Stockholder Litig., 2023 This was an appeal of an April 2022 Chancery Court opinion. At issue was the 2016 stock  acquisition of SolarCity Corp. by Tesla Inc. Tesla’s shareholders claimed that Elon Musk  caused Tesla to overpay for SolarCity through his alleged domination and control of the  Tesla board. Their primary  Continue Reading »

In re Hillman, 2023 In this bankruptcy, ULM challenged the filing by the debtor, Michelle Corbin Hillman, that  “the Debtor is ineligible to elect to proceed with her case under Subchapter V of Chapter 11  … because she is not a ‘person engaged in commercial or business activities … as of the  date of filing  Continue Reading »

Mekhaya v. Eastland Food Corp. The circuit court erred in dismissing the claims of the appellant (Mekhaya) for shareholder  oppression, breach of fiduciary duty, and unjust enrichment against his former employer, Eastland Food Corp., and its board of directors. “Appellant alleged that, as a minority  shareholder in Eastland, he received, before his firing as an  Continue Reading »

EllDan Corp. v. Steele (In re EllDan Corp.), 2023 The debtor, EllDan Corp., and Kevin Steele, the plaintiffs, contended that the covenants not  to compete contained in franchise agreements between the debtor and the franchise, Fantastic Sams Franchise Corp., were unenforceable, and, thus, the plaintiffs should be allowed to operate competing hair salons within the  Continue Reading »

Rothwell v. Rothwell, 2023 The Court of Appeals of Utah considered several issues on the husband’s appeal from the  district court’s ruling concerning the couple’s dissolution of marriage. This digest will cover  the appellate court’s opinion regarding the valuation of the husband’s businesses. Other issues, dealing with support and determination of the wife’s needs and  Continue Reading »