Pre-Discovery Dismissal of Corporate Veil Piercing Claim - U.S. Dist. Court, E.D. California

CA based corporation sued U.S. citizen directors (Arkansas residents) of a Caribbean corporation that had defaulted on promissory notes executed in connection with multi-million dollar purchase of agricultural products.  After consideration of brief, supporting affidavits and argument submitted on behalf of the defendant directors, District Court dismissed the case without allowing discovery. 

Non-Competition Provisions Of Employment Agreements Construed To Allow Competition, But No Solicitation of Former Customers - Chancery Court, Shelby County, Tennessee

Local wholly owned subsidiary of a large publicly traded company filed late afternoon Complaint and application for a temporary restraining order and injunction based on non-competition provisions contained in employment agreements signed by former President.  Non-competition provisions included strict prohibition against competitive activity.  Less than eighteen hours later, after consideration of responsive brief, affidavits and argument, Chancery Court granted TRO prohibiting solicitation of former customers but allowing competition by former President and his newly formed company.  Same relief granted at injunction hearing conducted three weeks later.

Elective Share Settlement at 700% of Initial Offer By Estate

Client’s husband died with estate comprised of stock in privately held corporation.  Initial valuation of corporation submitted by estate appraiser was $1.2 million.  After negotiation based on competing appraisal, settled client’s elective share claim to 30% of value of estate for $2.45 million.  

 Fraudulent Conveyance Set Aside, Foreign Judgment Enrolled and Collected - Chancery Court, Shelby County, Tennessee

Wife, who owned substantial real estate jointly with Husband (in tenancy by entirety with right of survivorship), responded to petition to enroll foreign judgment by quit-claiming her interest in properties to Husband.  After settlement discussions, the parties entered a Consent Order setting aside the conveyances and enrolling the judgment.  Judgment recorded as lien on Wife’s interests in real properties.  Two years later, judgment was satisfied via settlement when Wife and Husband refinanced property.