Recently, rapper 50 Cent (Curtis Jackson) found about 700 Bitcoins between his virtual couch cushions worth some $7.7 million as of January 24, 2018. These were some of the proceeds of his 2014 album, namely Animal Ambition. At the time,…
Seeking New Solos!
Community Law Practice Incubator Start Your Own Practice − Serve the Community Are you or someone you know interested in starting a solo practice? Apply now to participate in the soon-to-launch Community Law Practice Incubator. The Bar Association of San…
Chapter 7 Bankruptcy Trustee Must Obtain Court Approval Before Paying Taxes
In In re Cloobeck, 14 C.D.O.S. 5982, No. 23-15432 (9th Cir. June 12, 2015), the United States Court of Appeals for the Ninth Circuit ruled that a chapter 7 bankruptcy trustee must notify creditors, set a hearing or opportunity for…
Welcoming Gregg Ficks, Incoming Commercial Law and Bankruptcy Section Chair
The Bar Association of San Francisco is excited to welcome its 2015 Commercial Law and Bankruptcy Section Chair, Gregg Ficks. Gregg is a partner at Coblentz, Patch, Duffy & Bass, where he leads the firm’s Bankruptcy and Creditors’ Rights Practice…
BASF Joins Los Angeles County Bar Association in Amicus Brief Regarding Heller Ehrman Bankruptcy
In late February, BASF, along with the Los Angeles County Bar Association (LACBA), filed an amicus brief in a case before the Ninth Circuit Court of Appeals, which received widespread press coverage in the legal industry. Kudos to BASF’s Amicus…
If You Are A Spendthrift (Trust), Go To Hawaii
A valid spendthrift trust is entitled to certain protections in bankruptcy, especially in Hawaii. In In re Zukerkorn, 500 B.R. 598 (9th Cir. BAP 2013), the Bankruptcy Appellate Panel of the United States Court of Appeals for the Ninth Circuit…
Lien Priorities Altered When One Creditor Breaches Fiduciary Duties to Another
In Feresi v. Livery, 2014 LEXIS 1138 (Cal.App. 2d Dist. Dec. 15, 2014), a California court held that equitable principles control over the Uniform Commercial Code’s priority scheme when a creditor breaches its fiduciary duty owed to another creditor. Mesa and…
Legal Ethics Corner: Ethical Issues in Accepting Credit Card Payments
As anyone who has paid for vegetables at the farmers’ market on a merchant’s smartphone knows, the use of credit cards as a form of payment has become a universal convenience. Credit cards can now be used for the purchase…
Discharging Student Loans
A recent opinion, namely In re Hedlund, 718 F.3d 848 (9th Cir. 2013), may make it easier to discharge student loans. In Hedlund, the debtor borrowed approximately $85,000 for college and law school. He failed the bar examination three times…
Can Bitcoin be Used as Collateral to Secure a Loan?
Problems arise when a lender attempts to accept Bitcoin as collateral to secure a loan. More problems arise when Bitcoin makes up a portion of the lender’s collateral without the lender’s knowledge. It is best to address these issues in…
License Assumed While Related Agreements Rejected
In In re Physiotherapy Holdings, Inc., 506 B.R. 619 (Bankr. D. Del. 2014), the bankruptcy court permitted the debtor to assume a license agreement but reject other related agreements. In Physiotherapy Holdings, the debtor licensed software under several agreements. Pursuant to Bankruptcy Code Section…
The Business Judgment Rule in the Central District of California
A pair of recent decisions by the United States District Court for the Central District of California challenge the strength of the business judgment rule. To summarize, the cases hold that the business judgment rule does not protect corporate officers…