Posts by On Behalf of Giddens & Gatton Law, P.C.
Bankruptcy Trustee Loses in Bid to Recover for Estate Transferred by Debtor
In any bankruptcy action, the trustee has the capacity to recover any funds which he or she believes was improperly transferred or paid from the debtor’s estate prior to the bankruptcy filing. The law gives the trustee this power to ensure either that individuals close to the debtor do not take advantage of the debtor…
Read MoreEnvironmental Groups to Quick to Sue in Land Use Case
The Combined Hydrocarbon Leasing Act of 1981 allows lease holders who have permits to use the land for oil and gas extraction to convert those permits to CHLs (combined hydrocarbon leases). Such a conversion would enable the lease holder to produce oil from tar sands, a process that requires an external energy source to separate…
Read MoreFDIC brings tort action against former officers of New Mexico bank
When a bank goes into receivership, bank executives should not assume that any losses the bank itself — or its shareholders — sustains will be the sole losses. The Federal Deposit Insurance Corporation (FDIC), acting as the receiver of the First Community Bank, sued former officers of the Bank for close to $15 million in…
Read MoreWise Performance of Corporate Duties
People starting small companies often form corporations to operate their businesses and appoint the same individuals as shareholders, officers and board members. While New Mexico law does not prohibit a given individual from wearing all three of these “corporate hats,” it makes sense to consider the purposes of each of these roles and how to…
Read MoreNew Mexico’s Well Statute Not Unconstitutional
When a citizen of any state contends his or her rights are impaired because a particular statute of law conflicts with or violates a federal or state constitutional provision, that citizen has the opportunity to raise that issue in the appropriate court. In New Mexico, the state constitution addresses the important issue of water use…
Read MoreCantor Fitzgerald Settles with American Airlines over 9/11 Attacks
Cantor Fitzgerald, an investment firm that was housed in the North Tower of the World Trade Center on September 11, 2011, finally settled litigation against American Airlines last month. While families of the employees previously received proceeds from insurance, Cantor Fitzgerald sued the airlines for over a billion dollars claiming that the carrier bears responsibility…
Read MoreThe Only Way to Reach My Property
In a case in which it was difficult to determine the entire history of a particular tract of property, the New Mexico Court of Appeals found that the plaintiffs, the Los Vigiles Land Grant and Mike Martinez, had the right to use an adjoining parcel of property to access and depart their own property. The…
Read MoreNew Mexico Homeowners Win Partial Victory against Wells Fargo
The U.S .Ninth Circuit Court of Appeals which rules on federal cases originating from several western states issued a decision earlier this year which gave two New Mexico homeowners a continued opportunity to prevail in a suit against Wells Fargo bank. The plaintiffs in the case of Schlegel v. Wells Fargo Bank[1] procured a loan…
Read MoreMalice in Family Dispute Limits Discharge in Bankruptcy Case
The primary reason most individuals or companies seek bankruptcy protection is to rid themselves of debts which pose too great a burden on the debtor rendering the debtor unable to meet financial obligations. Debtors ask bankruptcy courts to discharge certain specific debts so that they no longer are legally required to pay such debts. A…
Read MoreKey Considerations in Negotiating Commercial Leases
When starting a new company or moving your business to a new location, it is vital that you give careful consideration to many aspects of the lease before reaching any agreement. Some of these aspects, such as location, will have less to do with legal matters and more with whether that location will help or…
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