Business Law
Objections to New Water Agreement May Block State’s Deal with Pueblos
Recently a lawsuit was filed by three state legislators attempting to stop the implementation of a water settlement with members of the Navajo Indian nation unless and until it received approval of the deal from the New Mexico Legislature. Now a similar issue arises – with one twist – concerning a water-rights settlement between the…
Read MorePowers of all Three Branches at Issue in Navajo Water Settlement
Three members of the New Mexico Legislature filed a lawsuit challenging the validity of a settlement allocating a discrete amount of water from the San Juan River to the Navajo Indian nation. Back in 1948 a compact between the states of New Mexico, Colorado, Utah and Wyoming apportioned a large volume of water to New…
Read MoreTrustee of Alleged “Sham Trust” Slated to Defend Its Operation At Trial
Frequently people facing particular legal problems will establish trusts for the benefit of their children or grandchildren when they fear that, if assets are not set aside for their beneficiaries, there will not be sufficient funds to maintain support of their children throughout the balance of their kids’ or grandkids’ childhoods. A notorious example many…
Read MoreReceivership as an Enforcement Mechanism
It is hardly uncommon that lenders, in some transactions, require a borrower to sign a promissory note or some other agreement to establish the terms under which a loan must be repaid and the consequences if the required amount is not repaid consistently with such terms. Nor is it unusual for lenders to demand that…
Read MoreUse of Protective Order in Litigation to Prevent Fishing Expedition
When a plaintiff or plaintiffs file a civil lawsuit against a company or companies which it claims bears liability for some damages incurred by the plaintiff(s), after the initial filings of the Complaint by the plaintiff(s) and an Answer by the defendant(s), the parties commence a period (generally but not exclusively six months in duration)…
Read MoreBeing Careful about One’s Agreements
Parties finding themselves in default of a contract have a strong incentive to cure that default. Often, however, the urgency to remove oneself from a precarious legal posture can lead to even greater future jeopardy. As an instructive example, the case of Rehm v. Parra Family Limited Part, No. 32,200 (Ct. App N.M. 2013) shows…
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 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…
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