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Case Law Update Fall 2009. By Catherine E. Vance, Development Specialists, Inc.
10/30/2009
Preemption of State Statutes of Repose. Trustee sued debtor’s law firm for pre-petition negligence within the limitations period of § 108 but beyond the one-year period afforded by the state’s statute of repose. Defendant argued that, unlike a limitations period, which bars enforcement of a legal right, the expiration of a statute of repose extinguishes the substantive right itself and § 108 cannot revive that right. Noting an absence of authority on point, court held that § 108 preempted the statute of repose. Bankruptcy law takes precedence over state law by virtue of bankruptcy and supremacy clauses, and broad language and policy of § 108 demonstrate intent that it reaches “any action,” including those controlled by statutes of repose. Stanley v. Trinchard, 579 F.3d 515 (5th Cir. 2009).

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TACR Spotlight

2010 Golf Outing Report

The TACR Board and the Golf Committee wish to thank all of our sponsors and golfers who helped make our 2010 outing at Stonelick Hills a great success. We owe particular thanks to our title sponsor, Great American Group. Great American's support enables TACR to provide you with the programs we bring the members all year long. Sponsorship revenue was at a record or near record level and we had our usual great turnout from the golfers.

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Educational Luncheon
10/06/2010
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Educational Luncheon
11/09/2010
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