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In the Spotlight:Tenants Must Act Prudently When Executing Estoppel Certificates
Tenant estoppel certificates are generally perceived by most tenants as an occasional innocuous annoyance, and in most cases they are just that. There are certain instances, however, where the careless execution by a tenant of an estoppel can lead to serious potential legal difficulties in the future.
Upon receiving a request by a landlord for an estoppel, a prudent tenant must do two things. First, review the lease to determine what the tenant is required to certify. Landlords (and their lenders, prospective purchasers, and their respective counsel) frequently like to add various provisions to the estoppel that amount to modifications of the lease or disguised subordination and attornment provisions. If the lease does not require the tenant to deliver the additional requested provisions, there is no reason for the tenant to comply unless the tenant receives some benefit for doing so. Second, the tenant must carefully review the provisions of the estoppel to make sure that it is factually correct. Landlords and/or their managing agents or attorneys frequently take the form estoppel and fill in the blanks based on a rent roll or lease abstract without necessarily referring back to the original lease document. This process often leads to errors in basic lease status such as rent, term, renewal options, etc.
The DOJ's Corporate Enforcement Policy: One Year Later
The DOJ's Criminal Division issued three declinations since the issuance of the revised CEP a year ago. Review of these cases gives insight into DOJ's implementation of the new policy in practice.
The DOJ's New Parameters for Evaluating Corporate Compliance Programs
The parameters set forth in the DOJ's memorandum have implications not only for the government's evaluation of compliance programs in the context of criminal charging decisions, but also for how defense counsel structure their conference-room advocacy seeking declinations or lesser sanctions in both criminal and civil investigations.
Use of Deferred Prosecution Agreements In White Collar Investigations
This article discusses the practical and policy reasons for the use of DPAs and NPAs in white-collar criminal investigations, and considers the NDAA's new reporting provision and its relationship with other efforts to enhance transparency in DOJ decision-making.
A Lawyer's System for Active Reading
Active reading comprises many daily tasks lawyers engage in, including highlighting, annotating, note taking, comparing and searching texts. It demands more than flipping or turning pages.
Bankruptcy Sales: Finding a Diamond In the Rough
There is no efficient market for the sale of bankruptcy assets. Inefficient markets yield a transactional drag, potentially dampening the ability of debtors and trustees to maximize value for creditors. This article identifies ways in which investors may more easily discover bankruptcy asset sales.