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Retail Lease Workout In Bankruptcy Trends Show 'We're All In This Together'
We are still dealing with the pandemic and its impact. The way we live our lives and interact with one another has changed, and the way we transact business and approach commerce has evolved.
The pandemic brought with it social distancing, enhanced telecommuting and other health protection policies, and it was followed by business interruption lawsuits, mothballed bankruptcy cases, fights over ongoing rents, certain government-sponsored loans, and tremendous uncertainty for retailers, restaurants and other consumer-based companies. The retail sector suffered economically, and retailers/restaurants with locations across the country filed for Chapter 11 bankruptcy. One of the primary consequences was for financially distressed companies to utilize the Bankruptcy Code's provisions for rejection of above-market leases or underutilized real estate to reduce their physical footprint and related obligations.
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New York's Latest Cybersecurity Commitment
On Aug. 9, 2023, Gov. Kathy Hochul introduced New York's inaugural comprehensive cybersecurity strategy. In sum, the plan aims to update government networks, bolster county-level digital defenses, and regulate critical infrastructure.
Law Firms are Reducing Redundant Real Estate by Bringing Support Services Back to the Office
A trend analysis of the benefits and challenges of bringing back administrative, word processing and billing services to law offices.
Bit Parts
Summary Judgment Denied Defendant in Declaratory Action by Producer of To Kill a Mockingbird Broadway Play Seeking Amateur Theatrical Rights
Risks of “Baseball Arbitration” in Resolving Real Estate Disputes
“Baseball arbitration” refers to the process used in Major League Baseball in which if an eligible player's representative and the club ownership cannot reach a compensation agreement through negotiation, each party enters a final submission and during a formal hearing each side — player and management — presents its case and then the designated panel of arbitrators chooses one of the salary bids with no other result being allowed. This method has become increasingly popular even beyond the sport of baseball.