Archive for October, 2012:

Partnership Agreements and Access to Information

Under Idaho Statute § 53-3-103(2) a partnership agreement may not unreasonably restrict the right of access to books and records. Limiting access to during normal business hours or charging a fee to cover the costs of labor and material will most likely not be found unreasonable. Furthermore, a partnership agreement may not unreasonably restrict the […]

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Partnership Agreements and the Duty of Loyalty

Under Florida Statute § 620.1110(2)(e) a partnership agreement may not eliminate the duty of loyalty of a general partner. But, the agreement may identify specific activities or types of activities that do not violate the duty (if not patently unreasonable). Furthermore, the agreement may identify the specifications (i.e. number, percentage, class or other type of […]

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Rejecting Chapter 11 Plans

The 3rd Circuit recently held in In re Am. Capital Equip., LLC, 688 F.3d 145 (3d Cir. 2012) that a bankruptcy court has the authority to hold a Chapter 11 plan is unconfirmable at the disclosure statement stage (as opposed to holding a confirmation hearing) if the plan is patently unconfirmable. In the instant case, […]

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Foreclosure Efforts and Stay Relief

 In Kline v. Deutsche Bank, 472 B.R. 98 (B.A.P. 10th Cir. 2012) Deutsche Bank filed a foreclosure complaint and amended complaint against Kline in state court. Shortly thereafter Kline filed a Chapter 13 bankruptcy. Without notice of the bankruptcy action, Deutsche Bank served the amended complaint. After years of litigation the Bankruptcy Appellate Panel held […]

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