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Case Citations [1] (July 2020 - April 2021)

handle is hein.ali/relwrstn0072 and id is 1 raw text is: RESTITUTION Generally U.S.2020. Cit. generally in diss. op. The U.S. Securities and Exchange Commission sued developers of cancer treatment center, alleging that defendants improperly diverted investor money received through an immigrant-investor program to personal accounts and for marketing expenses and salaries that exceeded limits in statements made to investors in defendants' private offering memorandum. The district court entered judgment for plaintiff and ordered disgorgement equal to the full amount developers raised from investors. This court vacated and remanded, holding, inter alia, that plaintiff had the authority under 15 U.S.C. § 78u(d)(5) to pursue disgorgement as part of its duty to enforce federal securities laws. The dissent argued that the statute only permitted plaintiff to pursue traditional equitable remedies, reasoning that disgorgement did not appear in the Restatement of Restitution and thus was a theory that came well after the traditional equitable remedies were defined. Liu v. Securities and Exchange Commission, 140 S.Ct. 1936, 1953. D.N.D.2020. Cit. generally in disc. and in ftn. Professional gambler filed a claim in Chapter 7 proceedings for debtor that provided off-track pari-mutuel horse-betting services, alleging that he was entitled to a portion of a refund that debtor received from the State for improperly collected taxes on account-wagering activities. After conducting a trial, the bankruptcy court sustained objections to the claim filed by debtor's principal and debtor's bankruptcy trustee. This court affirmed the bankruptcy court's conclusion that debtor had a greater entitlement to the refund. The court rejected professional gambler's arguments that he was entitled to recover on a theory of unjust enrichment, reasoning, in part, that his arguments based on the Restatement of Restitution were unpersuasive because the taxes were not akin to sales taxes and because he was not the taxpayer. In re Racing Services, Inc., 617 B.R. 641, 656, 658, 660. General Scope Note D.Or.2020. General Scope Note cit. in case quot. in disc. Buyers who in 2000 purchased a used helicopter that had been manufactured in 1963 sued manufacturer of the helicopter, alleging that manufacturer breached an implied contract by failing to appropriately manage the helicopter's type certificate, which indicated its airworthiness, such that the Federal Aviation Administration refused to approve the helicopter for flight in 2012. This court granted manufacturer's motion for summary judgment, holding, among other things, that buyers failed to state a claim for breach of an implied-in- law contract or quasi-contract entitling them to relief under the Restatement of Restitution, because manufacturer's sale of the used helicopter on an as is basis to a prior owner did not create an implied- in-law obligation to manufacturer to keep the helicopter airworthy. Helicopter Transport Services, LLC v. Sikorsky Aircraft Corporation, 448 F.Supp.3d 1127, 1135. PART I. THE RIGHT TO RESTITUTION (QUASI CONTRACTS AND KINDRED EQUITABLE RELIEF) COPYRIGHT ©2021 By THE AMERICAN LAW INSTITUTE All rights reserved Printed in the United States of America For earlier citations, see the Appendices, Supplements, or Pocket Parts, if any, that correspond to the subject matter under examination.

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