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Business Court Report

Nevada’s Prompt Payment Act Is Enforced in Business Court

Department 7 of the Washoe County Business Court entered November 29, 2016 Order and December 2, 2016 Order enforcing Nevada’s Prompt Payment Act in favor of a Nevada drilling contractor that sought a $2.3 million change order due to unanticipated subsurface drilling conditions. Factual Background Plaintiff National EWP, Inc. (“National”), a licensed Nevada drilling contractor, […]

Business Court Allows Securities Fraud Lawsuit to Move Forward

In a September 13, 2016 Order, Department 7 of the Washoe County Business Court denied a securities fraud defendant’s motion to dismiss, but ordered the plaintiff to re-plead its complaint. Background The Plaintiff alleged that he invested $1,000,000 in a redevelopment of the Cal Neva Lodge located in Crystal Bay, Lake Tahoe. He alleged that […]

Washoe County Business Court Denies Preliminary Injunction in Franchise Termination Case

In an April 11, 2016 Order, Department 9 of the Washoe County Business Court denied a preliminary injunction sought by a Nevada wine distributor against a California wine producer. The distributor then appealed this decision to the Nevada Supreme Court and sought a “stay,” i.e., the same preliminary injunction pending appeal. The Business Court entered […]

Temporary Restraining Order Protects a Proposed Stock Sale and Settlement Agreement from Corporate Interference

Department 9 of the Washoe County Business Court entered a May 24, 2016 temporary restraining order to protect a proposed settlement for which court approval was being sought. Val Holms, an approximately 47% shareholder of Bakken Resources, Inc. (“BRI”), was sued in a separate derivative action on behalf of BRI by Manuel Graiwer and other […]

Business Court Dismisses Petition for Judicial Review on the Basis of Improper Venue

In a May 20, 2016 Order, the Business Court of the Second Judicial District Court recently dismissed a Petition for Judicial Review because the Petition was filed in the wrong county. Background The Nevada Public Utilities Commission (“PUC”) approved an electricity rate increase affecting homeowners with roof-top solar panels. The PUC heard the rate challenge […]

Washoe County Business Court Refuses to Enter Preliminary Injunction Against Casino

By Jerry Carter. A Peppermill Casino employee was caught on the premises of Grand Sierra Resort making unauthorized entry into slot machines. Grand Sierra Resort sued the Peppermill Casino and the employee, and sought a preliminary injunction against both. The court granted a preliminary injunction against the employee, but denied the requested preliminary injunction against the Peppermill […]

Business Court Permits Nevada Corporation to Sue Insurance Broker for Failure to Place Proper Insurance Coverage

By Jerry Carter. In a recent Order in a Washoe County business court matter, the court permitted a Nevada corporation and its sole owner to sue for failure to place proper insurance coverage. The plaintiffs alleged they relied on the services of two insurance brokers to purchase proper workers compensation insurance. However, when the plaintiff owner […]

Nevada Business Court Refuses to Dismiss Shareholder Derivative Action

By Jerry Carter. The Washoe County Business Court recently entered an Order in which it refused to dismiss a shareholder derivative action. One of the defendants is an attorney who moved to dismiss the claims against him on the ground that his role as counsel to the defendant corporation and the attendant attorney-client privilege renders him unable to […]

High-Yield CDs: Red Flags That Signal a Scam

The FINRA Investor Education Foundation has issued an investor alert regarding promotions about certificates of deposit (CDs) promising interest rates that are substantially higher than current averages. FINRA has observed offers for “low-risk” products with outsized returns. Investors should be wary of unsolicited emails and calls that offer outsized interest from financial institutions, including banks […]

Washoe County Business Court Appoints Receiver for Mismanaged Nevada Corporation

By Jerry Carter. At the request of Jerry Carter, Esq. and co-counsel Michael D. Smith, Esq., the Washoe County  Business Court recently entered an Order Appointing Receiver to protect the shareholders of a mismanaged Nevada corporation. The Order confirmed an arbitration award.  The Receiver is to take control of the corporation’s assets and make recommendations to the […]

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