Asset Recovery in Commercial Litigation: Litigating Piercing the Corporate Veil, Alter Ego, Successor Liability, UVTA

Strategies for Plaintiffs and Defendants to Maximize Recovery or Protect Assets

Recording of a 90-minute CLE webinar with Q&A


Conducted on Tuesday, July 11, 2017
Recorded event now available


This CLE webinar will provide commercial litigators with an analysis of legal theories that allow creditors to recover assets from affiliates and subsidiaries of corporate debtors and other transferees, namely piercing corporate veil, alter ego liability, successor liability and fraudulent transfers. The program will also look at methods of recovering assets located in foreign jurisdictions.

Description

Litigants in business disputes must often look beyond the corporation to related entities, including subsidiaries, affiliates, shareholders or directors, as potential sources of liability and recovery. Counsel for clients seeking to maximize recovery of assets from corporations and other business entities must be adept at using theories such as alter ego liability, piercing the corporate veil, reverse piercing and fraudulent conveyance to enable clients to obtain assets from shareholders, insiders and related entities.

Recent amendments to the Uniform Voidable Transactions Act (UVTA, previously known as the Uniform Fraudulent Transfers Act) include choice of law for voidable transactions, burdens and standards of proof, clarification of who receives “reasonably equivalent value” under Section 8(a), and defenses available to a transferee or obligee.

In today’s global economy, creditors are increasingly facing the question of whether to pursue recovery against foreign transferees. Key issues include obtaining personal jurisdiction over the foreign defendant in U.S. courts; ensuring that U.S. law is applied, whether in the U.S. or a foreign court; overcoming discovery challenges when records or witnesses are not located in the U.S.; and getting a foreign court to recognize and enforce judgments obtained in a U.S. court.

Listen as our authoritative panel of litigators reviews the legal theories that allow creditors to recover assets from affiliates and subsidiaries of corporate debtors and other transferees. The panel will focus on piercing corporate veil, alter ego liability, successor liability and fraudulent transfers as well as how to recover assets located in foreign jurisdictions.

Outline

  1. Piercing corporate veil
  2. Reverse piercing
  3. Alter ego liability
  4. Successor liability
  5. Uniform Voidable Transactions Act (UVTA)
  6. Recovery actions against foreign entities

Benefits

The panel will review these and other key issues:

  • What factors do courts look at in deciding whether to apply the alter ego theory and pierce the corporate veil?
  • Under what circumstances will reverse piercing allow judgment creditors to collect on a damages award?
  • What steps can judgment creditors take to minimize or uncover fraudulent conveyances?
  • What is the allocation of burden of proof and standard of proof with respect to claims and defenses under the UVTA?

Faculty

Keith Miles Aurzada, Partner
Bryan Cave, Dallas

Mr. Aurzada works with his clients to solve complex business problems. He regularly assists clients on matters involving significant corporate transactions, the preservation of intellectual property, civil litigation, and the restructuring of indebtedness. He advises public and private corporations, boards of directors, and management teams, and his industry experience includes representing companies involved in the technology industry, healthcare, real estate, retail, manufacturing, health spas, restaurants, and oil and gas. 

Steven Fender, Of Counsel
Greenspoon Marder, Ft. Lauderdale, Fla.

Mr. Fender focuses his practice on bankruptcy and commercial litigation matters, in both state and federal courts. He routinely handles chapter 7 trustee adversary proceedings and contested matters. He has 20 years of experience litigating and trying cases in the areas of employment disputes, shareholder negotiations and disputes, contract claims, unfair competition litigation, intellectual property, business tort and contract matters.


Recordings

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Litigation Advisory Board

David R. Cohen

Partner

Reed Smith

Jeffrey J. Fowler

Counsel

O’Melveny & Myers

Jonathan Evan Goldberg

Partner

FisherBroyles

Mark E. Goodman

Shareholder

Capes Sokol Goodman & Sarachan

Dean D. Hunt

Partner

Baker & Hostetler

Michael E. Lackey, Jr.

Partner

Mayer Brown

Stephen Paffrath

Associate

Greenberg Traurig

Anthony T. Pierce

Partner

Akin Gump Strauss Hauer & Feld

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