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A Clash Between 'Free and Clear' and Tenants' Rights Under Bankruptcy Code Section 365(h)
With the recent carnage in the retail industry, including Sears, The Mattress Firm, Nine West, Claire's, The Bon-Ton Stores, The Walking Company, Brookstone, and many other retailers of all shapes and sizes, a lot of attention goes to the fate of landlords when their tenants seek bankruptcy protection. A recent case that brings balance is Revel AC Inc. v. IDEA Boardwalk, LLC, No. 17-3607 (3d. Cir. 2018), a New Jersey dispute decided in November of 2018.
A Casino and Resort Project Falters
Revel was the developer of a resort, Revel Casino Resort, that was to be the most luxurious resort in Atlantic City, but, as one can guess, this dream never came to be as the resort had to close its doors during a second run in bankruptcy.
The resort spanned 6.2 million square feet with 820 feet of boardwalk frontage. It featured a 47-story, 710-foot high tower, the tallest building in Atlantic City. The Revel Casino Resort's amenities included 1,399 rooms, outdoor facilities, retail boutiques and a wide variety of entertainment amenities, including 11 dining venues, two nightclubs, a day club, five indoor/outdoor pools, a 5,500-seat theater, 160,000 square feet of customizable conference space and a spa. The resort's outdoor amenities include a two-acre landscaped rooftop deck with outdoor pools, and a “pine grove” with over 30,000 live trees and plants. In a nutshell, it was poised to be a premier entertainment destination for Atlantic City revelers.
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New York's Latest Cybersecurity Commitment
On Aug. 9, 2023, Gov. Kathy Hochul introduced New York's inaugural comprehensive cybersecurity strategy. In sum, the plan aims to update government networks, bolster county-level digital defenses, and regulate critical infrastructure.
Law Firms are Reducing Redundant Real Estate by Bringing Support Services Back to the Office
A trend analysis of the benefits and challenges of bringing back administrative, word processing and billing services to law offices.
Bit Parts
Summary Judgment Denied Defendant in Declaratory Action by Producer of To Kill a Mockingbird Broadway Play Seeking Amateur Theatrical Rights
How AI Has Affected PR
When we consider how the use of AI affects legal PR and communications, we have to look at it as an industrywide global phenomenon. A recent online conference provided an overview of the latest AI trends in public relations, and specifically, the impact of AI on communications. Here are some of the key points and takeaways from several of the speakers, who provided current best practices, tips, concerns and case studies.