June 2009

Given the dinosaur-like status of the fax, it was a surprise that there were two North Carolina decisions last week, one from the Court of Appeals and one from the Business Court, that involved faxes. The appellate decision is a class action case; the Business Court decision addressed the more mundane subject of how much

Directors of corporations verging on insolvency can owe fiduciary duties to creditors under certain circumstances.  Whether those duties were owed — and whether the claim for their breach had been released as a part of the corporation’s bankruptcy proceeding — were the main issues yesterday in Phillips and Jordan, Inc. v. Bostic, 2009 NCBC

Eighteen new cases were designated to the Business Court during the month of May 2009.  Most are the usual disputes between members, partners, or shareholders of business organizations, but there are a few securities claims and a couple of trade secrets cases as well.

[Update: It’s actually nineteen new cases, I added the Napco case