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Second Circuit Construes ILSA to Rescue Condominium Purchasers
Does the Interstate Land Sale Full Disclosure Act (ILSA), which permits a buyer to rescind a purchase if the buyer has not received a statutorily mandated “printed property report,” apply to single-floor condominium units? In Berlin v. Renaissance Rental Partners, 2013 WL 1859140 (May 6, 2013), a divided Second Circuit concluded that a single-floor condominium unit qualifies as a “lot” within the meaning of the statute, enabling purchasers who had bought a luxury condominium unit before the 2008 real estate crash to escape from their now-unfavorable sale contracts.
The Statutory and Regulatory Framework
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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.
Judge Rules Shaquille O'Neal Will Face Securities Lawsuit for Promotion, Sale of NFTs
A federal district court in Miami, FL, has ruled that former National Basketball Association star Shaquille O'Neal will have to face a lawsuit over his promotion of unregistered securities in the form of cryptocurrency tokens and that he was a "seller" of these unregistered securities.
Why So Many Great Lawyers Stink at Business Development and What Law Firms Are Doing About It
Why is it that those who are best skilled at advocating for others are ill-equipped at advocating for their own skills and what to do about it?
Blockchain Domains: New Developments for Brand Owners
Blockchain domain names offer decentralized alternatives to traditional DNS-based domain names, promising enhanced security, privacy and censorship resistance. However, these benefits come with significant challenges, particularly for brand owners seeking to protect their trademarks in these new digital spaces.
Supreme Court Rules Rejection of Trademark License Does Not Rescind Rights of Licensee
Mission Product Holdings, Inc. v. Tempnology, LLC The question is whether a debtor's rejection of its agreement granting a license "terminates rights of the licensee that would survive the licensor's breach under applicable nonbankruptcy law."