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State Attorney-Client Privilege Rule Incorporated into Federal Law Image

State Attorney-Client Privilege Rule Incorporated into Federal Law

Robert J. Stearn, Jr., Cory D. Kandestin & Christopher M. De Lillo

<b><i>Delaware Bankruptcy Court Protects Communications with Financial Professionals Originating in Delaware</b></i><p>Because state law applies at the time a transaction is negotiated, the parties might assume — reasonably so — that state privilege law will govern communications with their attorneys and financial professionals. But what happens if, years later, a suit is filed in federal court and brings claims under federal law? Does state privilege law still apply?

Features

<i>Commentary:</i> Amended Opinion No Cause for Alarm in 'Blurred Lines' Case Outcome Image

<i>Commentary:</i> Amended Opinion No Cause for Alarm in 'Blurred Lines' Case Outcome

Robert J. Bernstein & Robert W. Clarida

Over the summer, a divided panel of the Ninth Circuit affirmed the denial of a new trial motion and an order denying rehearing <i>en banc</i> in <i>Williams v. Gaye.</i> We now consider whether the final affirmance of the jury verdict in favor of Marvin Gaye's heirs is likely to wreak havoc on musical creativity as some, including the dissent, have argued. For us, the short answer is no.

Features

Acquisition of Claims for Plan Control Image

Acquisition of Claims for Plan Control

Jeff J. Friedman

The United States Court of Appeals for the Ninth Circuit recently provided additional guidance to creditors seeking to block confirmation of a plan by…

Columns & Departments

Cooperatives & Condominiums Image

Cooperatives & Condominiums

ssalkin

Assignment of Right to Purchase Held Not Fraudulent

Features

'Secured Lender's Corner:' Protecting the Secured Lender Before a Mortgagor or Lessee Files Bankruptcy Image

'Secured Lender's Corner:' Protecting the Secured Lender Before a Mortgagor or Lessee Files Bankruptcy

Deirdre M. Richards & Howard C. Rubin

It is important for a secured lender to protect itself when entering a transaction with a borrower or lessee to avoid a total loss if the borrower or lessee files a bankruptcy petition or if the leased equipment is damaged, missing or both.

Features

The Price to Pay for De Novo Review of PTO Decisions Image

The Price to Pay for De Novo Review of PTO Decisions

Jonathan Moskin

<b><i>NantKwest v Iancu</b></i><p>The Federal Circuit sitting <i>en banc</i> reversed its own prior ruling and held that “all expenses of the proceeding” does not include attorneys' fees.

Columns & Departments

Real Property Law Image

Real Property Law

ssalkin

Temple Awarded Specific Performance of Agreement to Reconvey<br>Inadequacy of Sale Price Insufficient to Set Aside Foreclosure Sale<br>Questions of Fact About Purchaser's Ability to Perform<br>Knowledge of True Owner's Claim Does Not Defeat Adverse Possession Defense<br>Contract Vendee Entitled to Specific Performance<br>Land Seller Did Not Violate General Business Law Section 349<br>Statute of Limitations Bars Foreclosure Claim

Features

Swiss Bank Pays for Helping U.S. Clients Evade Taxes Image

Swiss Bank Pays for Helping U.S. Clients Evade Taxes

Sue Reisinger

Here's a sure way to lose half your cooperation credit in a federal investigation: Let your in-house counsel advise employees not to cooperate with U.S. prosecutors.

Features

Patent Eligibility of User Interfaces Image

Patent Eligibility of User Interfaces

Lawrence H. Aaronson & James L. Korenchan

<b><i>Advances in UI Design Can Provide Key Competitive Differentiation and Advantage, Which Makes Protecting Them Critically Important from a Business Perspective</b></i><p>Advances in UI design can also provide key competitive differentiation and advantage, helping to distinguish otherwise commoditized products and services such as computers, Web services, wearables, and appliances. Given this advantage, protecting advances in UI design can also be critically important from a business perspective.

Columns & Departments

Landlord & Tenant Image

Landlord & Tenant

ssalkin

Subletting Rent Stabilized Apartment for Short Periods Is Not a Curable Defect<br>Tenant May Terminate When Landlord Failed to Cure Landmarks Violation<br>Breach and Fraudulent Inducement Claims Survive Motion to Dismiss<br>Late Fees Not Enforceable<br>Subtenants Not Entitled to 30 Day Notice

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  • Private Equity Valuation: A Significant Decision
    Insiders (and others) in the private equity business are accustomed to seeing a good deal of discussion ' academic and trade ' on the question of the appropriate methods of valuing private equity positions and securities which are otherwise illiquid. An interesting recent decision in the Southern District has been brought to our attention. The case is <i>In Re Allied Capital Corp.</i>, CCH Fed. SEC L. Rep. 92411 (US DC, S.D.N.Y., Apr. 25, 2003). Judge Lynch's decision is well written, the Judge reviewing a motion to dismiss by a business development company, Allied Capital, against a strike suit claiming that Allied's method of valuing its portfolio failed adequately to account for i) conditions at the companies themselves and ii) market conditions. The complaint appears to be, as is often the case, slap dash, content to point out that Allied revalued some of its positions, marking them down for a variety of reasons, and the stock price went down - all this, in the view of plaintiff's counsel, amounting to violations of Rule 10b-5.
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