Commercial Law

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Key cases for your information.

Features

In-depth comment on this important practice area.

Features

In <i>Charnay v. Cobert</i> '- Cal.Rptr.3d '', 2006 WL 3410818 (Cal.App. 2 Dist., 11/28/06) (Perluss, P.J.), the trial court erred by sustaining a demurrer to a former client's suit against the law firm that represented her as she adequately alleged, inter alia, legal malpractice and breach of fiduciary duty.

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Properly administered impact fee programs can operate to streamline California Environmental Quality Act (CEQA) review of later development projects. At the same time, impact fee programs that are not implemented in accordance with the original expectations, or that are founded upon unrealistic assumptions, may offer the lead agency and affected applicant little or no real legal relief, and may be a trap for the unwary.

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In a recent development that will likely be of interest to companies conducting business in Europe, the American Bar Association has recently urged the U.S. government to sign, ratify and implement the Hague Convention on Choice of Court Agreements (the 'Choice of Court Convention'). The Choice of Court Convention accomplishes many goals that have long been sought by the United States. Most importantly, it provides a mechanism for the recognition of certain judgments rendered by U.S. courts, namely judgments resolving a dispute arising out of a commercial agreement that was submitted pursuant to an exclusive choice of court agreement. (See American Bar Association, Recommendation adopted by the House of Delegates (Aug. 7-8, 2006), at www.abanet.org/intlaw/policy/investment/hcca0806.pdf.)

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For the past three years, our law firm, Fulbright &amp; Jaworski LLP, has conducted its Litigation Trends Survey, based on responses from senior-level in-house lawyers at companies in a variety of industries and at various revenue levels. In the first year, we surveyed only United States companies. Last year, we expanded our survey to encompass companies in the United Kingdom as well. This year's edition of the Litigation Trends Survey ' in recognition of the increasing globalization of the world economy and our own firm's rapid international expansion ' drew on responses from companies around the world. The survey results generally confirmed what prompted us to expand the scope of the Survey to begin with ' that companies are increasingly operating more globally and therefore face greater and more frequent challenges in protecting their interests in areas far from home.

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In recent years, debtors in large corporate bankruptcies have sometimes sought and obtained, in varying degrees, authority at the outset of bankruptcy cases for severe restrictions on trading in claims against the debtors by substantial claimholders. In practice, however, these debt-trading orders have chilled the market for trading in debt securities and served to entrench existing management by effectively precluding substantial investors from acquiring meaningful positions in the debtor's debt securities.

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Better ingredients, it is said, make for a better pizza, and, as <i>Emfore Corp. v. Blimpie Associates, Ltd.</i> (N.Y. Sup. Ct. Sept. 18, 2006) suggests, better documents make for better decisions, at least if you are the franchisor.