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Bankruptcy courts continue to adjudicate disputes regarding Section 365 of the Bankruptcy Code, which addresses the disposition of executory contracts between the debtor and third parties. And we continue to report on developments in this area. Often the issue involves whether the contract is an executory contract that is subject to being assumed and assigned.
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Condominium's Delay Constituted Acceptance of Alteration Agreement
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On June 14, 2023, the Second Department decided Walsh v Ocwen Loan Servicing. The court, with little fanfare, appeared to rule that cooperative apartment owners are saddled with an unavoidable risk of loss. That is, if a lender alleges that the owners have defaulted, and then conducts a nonjudicial foreclosure sale, the former owners are left with few remedies.
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Co-Op Purchaser Not Entitled to Cancel Contract Stipulation of Settlement Did Not Foreclose Warranty of Habitability Claim Questions of Fact About Mitchell-Lama Succession Rights
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Taking Was for a Public Purpose and Failure to Comply With Public Hearing Requirement Did Not Invalidate Taking
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Fact Questions About Expansion of Nonconforming Use Subdivision Improperly Classified As Type II Action Under SEQRA ZBA Entitled to Approve Permit for Building Larger Than One Depicted In Approved Site Plan
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Tenant's Early Termination Entitled Landlord to Rent Questions of Fact About Landlord's Intention to Convey Leasehold to Individual
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Quiet Title Action Subject to Statute of Limitations Foreclosure Sale Purchasers Not Subject to Claim By Former Owners Specific Performance Denied Because Buyer Did Not Establish That It Was Ready to Close
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On June 29, 2023, the U.S. Supreme Court set new geographic limits for infringement and false designation of origin claims raised under Sections 1114 and 1125(a) of the Lanham Act. Given the global nature of business today, the decision highlights the need for trademark owners to continually reassess and, perhaps, expand their international trademark registration strategy as product lines and brands become more international in scope.
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Force majeure is lurking in the shadows of the Hollywood strikes, offering struggling studios a potential lifeline out of debt. But the best attorneys and the strongest contracts are proactive, rather than reactive. Thus, consider the following drafting tips to strengthen your force majeure language now, in the calm before the next storm.