In this part three of our discussion of the foreclosure process on commercial real estate in Louisiana, we are detailing the procedures involved in ordinary process foreclosures in Louisiana. Foreclosing on collateral by ordinary process in Louisiana involves filing a civil suit against the mortgagor asking the court to recognize that the indebtedness is due
In 2021, there were more civil cases filed in federal court based on diversity of citizenship than any other jurisdictional basis.[1] That means any changes to the rules affecting diversity cases are bound to affect lots of litigants. On December 1, 2022, one such change took effect.
Federal Rule of Civil Procedure 7.1(a)(2) now
In Leisure Recreation & Entertainment, Inc. v. First Guaranty Bank, the Louisiana Supreme Court found the voluntary pay doctrine to be in direct conflict with the Civil Code. In this action, the borrower was to make payments with interest accruing at 6.5% for years one through five of the loan, 7.5% in years six
In a decision holding that surety bonds are not executory contracts, the Fifth Circuit signaled that courts may in the future utilize the functional approach to determine if multiparty contracts are executory in nature. The case, filed in the United States Bankruptcy Court for the Middle District of Louisiana as In re Falcon V, L.L.C.
In the recent unanimous United States Supreme Court opinion, Morgan v. Sundance, Inc., No. 21-328, 2022 WL 1611788 (2022), issued May 23, 2022, the Court abrogated existing case law and held that prejudice is not a condition of finding that a party, by litigating too long, waived its rights to stay litigation or compel
Under Louisiana law, uninsured/underinsured (“UM”) insurers are under strict requirements to issue “good faith” unconditional tenders of the undisputed portion of the plaintiff’s damages. These unconditional tenders are not contingent on the final disposition of the case, rather they must be paid up front and cannot be recovered in the event of a lower judgment
The U.S. Supreme Court offered some good news to secured lenders last week, tempered with words of caution. In Chicago v. Fulton, the Court held that a secured creditor does not violate Section 362(a)(3) of the Bankruptcy Code by merely continuing to hold property of its debtor after that debtor files a bankruptcy petition.
The substantial flexibility afforded by the limited liability company structure has made it an increasingly popular business entity choice. Indeed, most of the default provisions in the Louisiana Limited Liability Company Law, La. R.S. 12:1301, et seq. (the “La LLC Law”) may be altered or superseded by the articles of organization or operating agreement of
Under Louisiana law, workers’ compensation is the exclusive remedy that an employee may assert against his employer or fellow employees for work-related injury, unless he was the victim of an intentional act. That exclusive remedy also extends to statutory employers.
Workers’ compensation legislation was enacted to provide social insurance to compensate victims of industrial accidents,
In targeting a company for purchase, many buyers prefer to purchase the assets of a company, as opposed to the stock (or other equity) of the company because, as a general rule, the buyer of assets in an asset acquisition does not automatically assume the liabilities of the seller. Accordingly, an asset acquisition generally allows