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While the court will not have the opportunity to rule on the merits of the case, the facts relied upon by the Indiana Superior Court and the conclusions reached in rendering its decision are still instructive for practitioners drafting continuous-use provisions and advising clients on potential breaches or anticipatory breaches of such provisions.
Features
What powers does the New York City Landmarks Preservation Commission have to require a building owner to maintain a mechanical clock located in the interior of a building? In <i>Save America's Clocks, Inc. v. City of New York</i>, New York's Appellate Division, First Department, held that the Commission had power to require maintenance of the clock, and to require public access to it.
Columns & Departments
Suit in Second Jurisdiction Is Duplicative<br>Mailing Rent Check While Doing Unauthorized Acts Is Not Mail Fraud
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<b><i>Real Estate and Other Issues Will Need Consideration</b></i><p>Given NJ Governor Phil Murphy's campaign pledge to legalize marijuana for recreational use in his first 100 days, the state is on the cusp of a major new revenue stream-recreational marijuana.
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Understanding the factors leading up to these bankruptcies, as well as the strategies used by retailers to emerge from bankruptcy, can give retailers significant knowledge about trends in consumer spending and how retailers can improve their overall positions going forward.
Columns & Departments
Failure to Require SEIS Not Arbitrary<br>Board of Fire Commissioners Lacks Standing to Challenge SEQRA Determination<br>Challenge to Pilot Agreement Reinstated<br>Statute of Limitations Bars Challenge to Excessive Height<br>Billboard Regulation Upheld
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<i><b>How Lenders to BREs Can Reduce the Risk of Debtor Bankruptcy Without Compromising Public Policies</b></i><p>Structured financing transactions, including those pertaining to commercial real estate, make extensive use of entities formed for the specific purpose of reducing the likelihood that assets will be involved in a potential bankruptcy proceeding. Known as “bankruptcy-remote entities,” or “BREs,” these entities are subject to structures and covenants in financing documents and their own formation documents, which are designed to reduce the likelihood that the BRE will file for bankruptcy protection.
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In a recent decision, Bankruptcy Judge Christopher S. Sontchi addressed the question of whether a Chapter 11 debtor, the tenant under a commercial lease, could exercise an option to renew the lease during the bankruptcy proceedings, even though the debtor was in default under the lease and the lease specified that it could not be renewed if defaults existed at the time the option was exercised.
Columns & Departments
Section 8 Status Protects Tenant from Eviction<br>Questions of Fact About Acceptance of Surrender
Columns & Departments
Moratorium Invalidated Where Consideration of Zoning Changes Not Planned<br>In Texas, LLCs Cannot Be Made to Pay Attorney Fees<br>No Interaction, No Equitable Tolling
