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Appellate Division Overturns Supreme Court Order to Partially Demolish 55-Story Building
In Committee for Environmentally Sound Development ("CESD") v. Amsterdam Ave. Redevelopment Associates LLC, 2021 NY Slip Op 01228 (1st Dept. Mar. 2, 2021), the Appellate Division, First Department, overturned a Supreme Court decision that would have required partial demolition of a nearly completed 55-story building at 200 Amsterdam Avenue.
The case involved the interpretation of the New York City Zoning Resolution's definition of "zoning lot," the unit of land used to determine the zoning compliance of all proposed construction work in the City. At issue was whether a zoning lot formed in one of the four ways permitted by the zoning lot definition could consist only of whole tax lots or could include one or more partial tax lots. The specific text, which had been adopted as part of the 1977 amendments to the "zoning lot" definition, provides that a zoning lot may consist of:
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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."