In California, it is unlawful for a third party to intentionally interfere with a commercial contract that has been agreed upon by two other parties. Indeed, this type of misconduct is known as tortious interference. Victims of tortious interference can bring a legal claim to hold the third party liable for any damages that they have sustained because of the contract breach. Here, our experienced San Jose business contract dispute lawyers discuss what you need to know about California tortious interference claims.
According to a report from the Los Angeles Times, Southern California Edison, the single largest subsidiary company of the Edison Corporation, has been awarded $125 million by a three-person arbitration panel. Originally, the company and its business partners were seeking more than $7 billion in damages from Mitsubishi Heavy Industries. While the arbitration panel agreed that additional financial damage occurred, a liability cap in the underlying contract limited the recovery.
Debtors are not allowed to 'give away' their assets in order to protect those assets from creditors. This is an issue in many bankruptcy cases, as some debtors try to find ways around the system. It is critical that creditors are fairly protected from any fraudulent transfers. Fortunately, California law offers creditors vital protections under the Uniform Fraudulent Transfer Act (UFTA). If you are a creditor in California, and you believe that a debtor has fraudulently transferred assets that you had a legal claim to, you need to contact an experienced San Jose creditors' rights lawyer attorney as soon as possible.