Fraudulent Transfer

Dallas Business Litigation Attorney Brad Jackson Named Among State’s Best

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Photo of attorney Brad Jackson sitting down while wearing glasses, a sports coat and a blue shirt with no tie.

DALLAS – Dallas attorney Brad Jackson of The Law Offices of Brad Jackson once again has been named one of the top lawyers for business disputes on the annual Texas Super Lawyers list published by Thomson Reuters.

The 2020 Super Lawyers list marks Mr. Jackson’s 17th consecutive selection among Texas’ leading business litigation attorneys. Board Certified in Civil Trial Law by the Texas Board of Legal Specialization since 2005, Mr. Jackson was selected for this year’s list based on nominations from other lawyers and a thorough review process by Super Lawyers’ editors.

Additional Firm Honors

Since being named to last year’s Super Lawyers listing, Mr. Jackson earned his 10th straight listing in the Best Lawyers in Dallas list following recommendations from other attorneys and the editors of D Magazine. His selection was based on his work in business litigation, tort lawsuits, and product liability cases.

Earlier this year, Mr. Jackson and fellow firm attorney Cheryl Mann were named in the 2021 edition of The Best Lawyers in America. The Law Offices of Brad Jackson additionally was named on the annual Best Law Firms list published by U.S. News & World Report and Best Lawyers.

Extensive Expertise

Companies and individuals have called on The Law Offices of Brad Jackson for more than 30 years in a variety of business disputes and commercial litigation. The firm’s expertise includes extensive work involving contract disagreements, fiduciary litigation, denial of commercial insurance claims, probate and trust litigation, professional malpractice cases, serious personal injuries and wrongful death, and other areas.

Based in Dallas, The Law Offices of Brad Jackson provides decades of experience representing clients in Texas and across the nation. Brad Jackson is Board Certified in Civil Trial Law by the Texas Board of Legal Specialization. The firm handles practically every type of business dispute, as well as cases involving high-stakes divorce litigation, serious personal injury, and wrongful death.

Brad Jackson Wins Second Favorable Judgment in a Week

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business litigation

The Law Offices of Brad Jackson recently scored our second big business litigation victory in less than a week by winning a summary judgment for two clients in a multimillion-dollar contract dispute. The decision issued in Dallas district court followed our successful defense of another client in a $100,000 fraudulent transfer claim.

The most recent ruling stems from a lawsuit that was filed against our clients by their former business partner, who claimed he was wrongly fired. Brad won that case in a summary judgment that protected our clients from more than $1 million in alleged damages.

The former partner responded by filing an appeal with Dallas’ 5th District Court of Appeals. Brad won the appeal last year when the court confirmed that our clients’ former partner was owed nothing and ordered him to pay for the costs of the appeal.

Despite the clear loss, the business partner and his attorneys were not done trying to force our clients to pay him something.

Fired Partner Argues for Stock Buyback

After he was fired, the former partner claimed that a contract among the owners obligated our clients to purchase his company stock, which he claimed was worth roughly $2 million. The Court initially denied summary judgment motions from both sides before scheduling a jury trial for last October to decide the contract dispute.

Prior to the trial, Brad helped convince the Court that an interpretation of the partners’ agreement should be determined by the Judge as a matter of law. The trial was postponed so both sides could brief the Court on the disputed issues.

Court Agrees with Brad Jackson in Ruling

In his brief, Brad argued that the contested contract did not include an obligation for our clients to buy back their former partner’s stock. Instead, Brad told the Court that the contract created an option for them to buy the stock if they chose to do so.

After considering arguments from both sides, the Court agreed with Brad and issued a final judgment representing a complete victory for our clients.

In the decision, Presiding Judge Maricela Moore of Dallas’ 162nd District Court ruled in our clients’ favor by granting both our previous and current summary judgment motions. In addition to awarding the business partner zero damages, the ruling also requires him to pay our clients’ court costs.

Although the former partner has lost multiple summary judgment decisions and appeals court rulings, he already has indicated that he intends to appeal this latest loss as well. Of course, we will continue to defend our business litigation clients and protect their legal rights through the appellate process.

Brad Jackson Helps Client Defeat $100K Fraudulent Transfer Claim

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fraudulent transfer

Brad Jackson recently secured a complete victory in a contentious business dispute heard in Dallas district court after one of our clients was wrongly accused of being a party to an alleged fraudulent transfer of $100,000.

The case was tried over several days last year before Judge Dale Tillery of the 134th District Court in Dallas. In an interesting twist, one of the most important documents in the case was originally written in Hebrew and had to be translated into English. During the trial, we also relied on a translator since the people who sued our client spoke Vietnamese.

Beauty Salon Bought with Family Loan

The controversy began in 2013, when our client, a local businessman, loaned his nephew $190,000 at 6 percent interest to buy a beauty salon. Under the terms of the agreement, which was written in Hebrew, our client also was first in line to be repaid if the salon was sold before the loan was paid off.

When the nephew eventually sold the salon, he repaid our client the remaining $100,000 that was owed on the loan. Our client then deposited that money in his bank account to repay a separate loan he had taken out to help his nephew buy the salon.

In 2016, our client’s nephew was sued by two business associates in a dispute over money tied to the already sold salon. A year later, the same two business associates sued our client based on claims they were entitled to the $100,000 that he was repaid more than a year earlier, as well as additional money damages.

Defending Fraudulent Transfer Claim

Relying on his years of legal experience and knowledge of the Texas Business and Commerce Code and the Texas Uniform Fraudulent Transfer Act, Brad argued that for a transfer to be fraudulent, it must be made “without receiving a reasonably equivalent value and the debtor (in this case, our client’s nephew) was insolvent at that time or the debtor became insolvent as a result of the transfer or obligation.”

Brad persuaded the Court that our client should not be found in violation of the Fraudulent Transfer Act since extinguishing the obligation to repay the loan was something of value and there was no evidence that the nephew was insolvent when the loan was repaid; that our client believed his nephew was insolvent; or that repaying the loan made the nephew insolvent.

Court Rules in Our Client’s Favor

Earlier this week, we received a final judgment and permanent injunction where the Court dismissed all the claims against our client. We are thankful for the well-reasoned ruling.

This case is a perfect example of how a person or company can become involved in a business dispute through no fault of their own. Our client thought he was simply helping his nephew by loaning him $100,000 only to find out a year later that he was being sued himself for significantly more than the original loan amount. Thankfully, we’ve seen these types of strongarm tactics before and we knew the law was on our client’s side.