The commercial real estate mortgage loan is in default. The defaults are material. Discussions have occurred among lender, borrower and their representatives. There’s been a forbearance agreement, or several. The loan has been “extended,” pretending time will be the panacea. “Extend and pretend” has failed. The lender has remedies. This article describes those remedies.
Although often analyzed separately, these two systems are best understood together: corporate law establishes the conditions for risk, while bankruptcy law provides the rules for allocating losses when those risks fail. Here, we briefly compare the underlying philosophies of each and highlight their points of tension and complementarity.
In the case of Hudson View Park Company v. Town of Fishkill, the New York Court of Appeals concluded that a Memorandum of Understanding entered into between the plaintiff and the Fishkill Town Board in 2017, regarding the review of a certain zoning proposal, was not binding upon a Town Board subsequently elected in 2019.
In the rapidly evolving landscape of college athletics, the emergence of NIL (name, image and likeness) deals has introduced a host of new complexities. This January, a pair of very public transfer disputes (both, coincidentally, involving highly rated quarterbacks) brought the growing tension between athlete autonomy and institutional interests to the fore.
Attorney fees for an NLJ 500 firm prevailing in a commercial lease dispute were slashed nearly in half after a federal judge in Pennsylvania concluded the party’s success did not warrant nearly $750,000 in fees.
A recent district court decision provides key lessons in the latest on liability management exercises. The U.S. District Court for the Southern District of Texas, in Wesco Aircraft Holdings v. SSD Investments, reminds parties that it is critical to use precise language in debt documents rather than assuming the existence of implied rights, particularly where such rights are considered sacred.
Notable recent court filings in entertainment law.
A look at moves among attorneys, law firms, companies and other players in entertainment law.
The Diocese of Camden, NJ and a committee representing roughly 300 survivors of abuse by clergy have reached a $180 million settlement of long-running litigation in U.S. Bankruptcy Court.
Artificial intelligence-related disputes have surged to become the top litigation concern for in-house legal teams, displacing intellectual property and breach-of-contract issues.
