Law.com Subscribers SAVE 30%
Call 855-808-4530 or email [email protected] to receive your discount on a new subscription.
Case Notes
Exculpatory Clause Bars Tenant's Claim for Lost Profits Resulting from Landlord's Negligence
In a New York commercial tenant's action for a full rent abatement and lost profits, tenant appealed from the New York Supreme Court's grant of summary judgment to landlord. The Appellate Division modified to reinstate the claim for rent abatement, and otherwise affirmed. Chaitman v. Moezinia, NYLJ 12/30/19 (AppDiv, First Dept.)
The lease provided that if more than 30% of the premises is damaged and the premises cannot be opened for business to the general public, all rent would be abated until the premises can be opened for business. The lease also provided that "notwithstanding anything to the contrary … Tenant waives, to the full extent permitted by law, any claim for consequential or punitive damages in connection [with damage to Tenant's property.]" Finally, the lease also required landlord to use reasonable efforts to minimize inconvenience, annoyance and injury to the tenant's business and its use of the demised premises. The landlord allegedly performed negligent renovations to the premises that permitted tenant to remain open for its existing clients, but precluded tenant from accepting new clients. The tenant brought this action for a rent abatement and lost profits, but the Supreme Court granted summary judgment to landlord.
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.
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.
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.
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.
Second Circuit Reinforces Bankruptcy Code Settlement Payment Safe Harbor
The Second Circuit affirmed the lower courts' judgment that a "transfer made … in connection with a securities contract … by a qualifying financial institution" was entitled "to the protection of ... §546 (e)'s safe harbor ...."