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December 2016 Archives

Three Ways to Avoid and Resolve Business Partnership Disputes

partnership.jpgMany Californians choose to set up their business operations as a partnership. A partnership offers many benefits for the founders. It can be an excellent way to create a sustainable, successful and profitable business. Of course, a partnership will only be able to maximize its potential if the partners are able to work together. If a serious intra-partnership dispute arises, it could potentially destroy the business. It is critical that business partners take proactive steps to prevent disputes. Further, when one does occur, business partners need to know how to protect the legal rights and financial interests of both themselves and their business.

Understanding the Corporate Opportunity Doctrine

fudiciary duty.jpgExecutives, directors, officers, and other corporate agents have a fiduciary duty to their company. In the simplest terms, a fiduciary duty is a legal obligation that requires one to put the interests of another party above their personal interests. This duty comes in many different specific forms. For corporate officers, one important form of fiduciary duty is known as the corporate opportunity doctrine. Essentially, this doctrine is an application of the fiduciary of duty of loyalty. More specifically, it means that corporate agents are not allowed to take any business opportunity for themselves that could have benefited the corporation. In the event that your business interests have been negatively affected by a corporate officer's violation of the corporate opportunity doctrine, please reach out to an experienced San Jose business litigation attorney today to discuss your legal options.

Samson Resources Corp. Still Battling Junior Creditors in Bankruptcy Court

chapter 11.jpgAccording to recent media reports, Samson Resources Corp has a signed an updated reorganization agreement in hopes of exiting the Chapter 11 bankruptcy process. The oil and gas drilling company originally filed for Chapter 11 bankruptcy protection in September of 2015. However, since that time, the company has been in a battle with some of its creditors over its restructuring plan. The company hopes that its revised Chapter 11 reorganization plan will finally get approval from objecting creditors or alternatively allow it to defeat them in bankruptcy court. Once either occurs, the company will be able to move forward in the Chapter 11 process.

Nationwide Injunction Prohibits New FLSA Overtime Regulations

overtime law.jpgIn May of 2016, President Obama and the Department of Labor (DOL) announced new FLSA overtime rules. At the time of the announcement, these rules were set to go into effect on December 1st, 2016. However, there was immediate controversy regarding this DOL regulation. Indeed, several states filed lawsuits against the agency seeking to block the implement of the new overtime regulations. The legal argument was that the DOL exceeded its legal authority in promulgating these regulations.

  • Santa Clara County Bar Association | 1917
  • American Inns of Court
  • CWL | California Woman Lawyers
  • Bay Area Bankruptcy | Forun
  • The State Bar of California
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