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 »

City of Fort Collins v. Open Int’l, LLC, 2023  Before the U.S. District Court—Colorado are five motions to exclude certain witnesses by  both parties.   Facts “This is a breach-of-contract case arising from Defendants’ alleged failure to deliver  Open SmartFlex (OSF), a Customer Information System (CIS) software product intended  for use in administering Plaintiff’s broadband utility  Continue Reading »

Lieberman-Massoni v. Massoni, 2023 In this New York appellate court case, the appellate court affirms the trial court’s divorce opinion that the awarding of a percentage of the value of the husband’s B-unit shares rather than awarding the shares themselves was proper under the Domestic Relations Law No. 236, nor was the wife entitled to  Continue Reading »

ES NPA Holding, LLC v. Comm’r, T.C. Memo 2023-55 The Tax Court ruled that the Class C units were a profits interest because, applying the fair  market value of the LLC at the time of receipt, the partner would not receive any proceeds  from a liquidation at that time. Any proceeds in excess of fair  Continue Reading »

In re Marriage of Bainbridge, 2023 In this case, Troy Bainbridge appealed the decree dissolving his marriage to Amanda Bainbridge. The appellate court did not err in its award of spousal support and determined  that the value of the husband’s company was proper because it found the wife’s expert  persuasive. The judgment of the trial  Continue Reading »

Lamm v. Preston, 2023 This was a tip of the iceberg Idaho Supreme Court decision on a very complex divorce case. This particular decision related to the magistrate court’s order, upheld by the district court, as to the fair market value of one of the parties’ business, Black Sage Acquisition LLC. The magistrate court determined  Continue Reading »