One Country, LLC v. Johnson

The majority reverses the judgment of the trial court and determines that the plaintiff Scott Porter should prevail despite the fact that he assigned his interest in the defendants’ written guarantees to Iboport, LLC (Iboport). In doing so, the majority appears to adopt the plaintiffs argument that the capital contribution made to Iboport did not represent a legal transfer of interest in the guarantees and, consequently, may be ignored as mere “tax treatment.” Because the plaintiff assigned his rights under the guarantees to Iboport as a capital contribution and, therefore, lacked standing to…