In re Tracht Gut, LLC (Tracht Gut, LLC v. Los Angeles County Treasurer)

A tax sale conducted in accordance with California law conclusively establishes that the price obtained at that sale was for reasonably equivalent value, so  the sale cannot be set aside as a fraudulent transfer in bankruptcy.  The rule of BFP v. Resolution Trust Corp. (1994) 114 S.Ct. 1757 applies to tax sales conducted under California…

Franchise Tax Board v. Hyatt

Nevada correctly allowed its citizen to sue California’s Franchise Tax Board in Nevada state court, since it need not apply California law immunizing the Franchise Tax Board from such suits; but it was wrong to allow its citizen to collect more than $50,000 in damages from California’s agency, when Nevada law prohibits damage awards in…