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Case Notes
Despite State Law, Merger Extinguishes Renewal Rights of Successor in Interest
The Court of Appeals of Tennessee, at Nashville, has determined that, despite the general rule that a successor tenant fully takes on the rights and responsibilities of the previous tenant, a successor tenant does not have the right to exercise an option to extend its lease if the lease between the landlord and the original tenant specifically reserved that right for the signing tenant only. Simmons Bank v. Vastland Dev. P'ship, 2019 Tenn. App. LEXIS 321 (6/27/2019).
In 2003, First State Bank (original tenant) entered into a lease with Vastland Development Partnership (Vastland or landlord) for a portion of Vastland's building in Nashville. The lease specifically defined "Tenant" as "First State Bank." An addendum to the lease granted First State Bank a renewal option under the following conditions:
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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
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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."