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Features
From a risk management perspective, festivals now run the gamut on potential liabilities that include collapsed stages, cancelled performances, severe weather, terrorism, alcohol liability, patron bodily harm and death, product liability and breach of contract claims. In essence, music festivals have become a microcosm of live entertainment-related liability exposures.
Features
The Fifth Circuit Court of Appeals recently issued a decision that explains some of the requirements for deducting litigation expenses. The facts of the case are bizarre, but the controlling legal principles are not.
Features
Restricting a tenant's right to transfer the property it is leasing to a third party is a key component to any lease. Many lenders require landlords to obtain lender consent before the transfer is effective. Failure to obtain such consent could lead to a landlord's default under the terms and conditions of the loan documents, so it is imperative for a landlord to review its loan documents each time it receives a request from a tenant to transfer its interest under the lease.
Features
Remember the nasty fight between Tom Petty's widow and daughters over control of his estate? Now the mud is splattering the lawyers, too.
Features
A bankruptcy court decision recently detailed how courts applying Bankruptcy Code §303(i) can sanction creditors who "abuse … the power given to [them] … to file an involuntary bankruptcy petition." The decision shows why the filing of an involuntary bankruptcy requires careful pre-filing legal judgment.
Features
The increased use of blockchain technology and cryptocurrencies, which have spread to the entertainment industry, including for royalty revenue determinations, has given rise to a variety of disputes. Substantive issues regarding the offer, sale and trading of digital tokens are coming before the courts, prompting novel discovery questions in these cases.
Features
<i>Courts Are Divided on the Issue of Whether the Fraudulent Transfer Recovery Provision Applies Extraterritorially</i><p>The U.S. Court of Appeals for the Second Circuit recently issued an opinion concluding that trustees can pursue recovery from foreign subsequent transferees who received property in transactions that occurred entirely outside the United States. The opinion reversed two lower court rulings and arguably conflicts with Supreme Court precedent on extraterritoriality of U.S. legislation.
Features
When a company declares bankruptcy, avoidance actions under Chapter 5 of the Bankruptcy Code can assist in securing extra cash for the debtor's dwindling estate. When a debtor-in-possession does not pursue these claims, creditors' committees often seek the bankruptcy court's authorization to pursue them on behalf of the estate. Once granted such authorization through a “standing order,” a creditors' committee is said to “stand in the debtor's shoes” because it has permission to litigate certain claims belonging to the debtor that arose before bankruptcy. However, for parties whose cases advance to discovery, such a standing order may cause issues by leaving undecided the allocation of attorney-client privilege and work product protection between the debtor and committee.
Features
Once again a company has felt the pain that comes when it is caught violating an agreement with the Department of Justice. After taking a tongue lashing from a federal judge for repeatedly violating the law, Carnival Corp. executives have until autumn to hire a chief compliance officer and begin meaningful compliance reforms at the world's largest cruise line.
Columns & Departments
Option to Buy Is Exercised, and 'Tenant' Is No Longer a Tenant