Federal bankruptcy courts have been unavailable to marijuana businesses due to the Schedule I status of marijuana. The United States Trustee's policy is to move to dismiss or object in each case involving marijuana assets, because they cannot be administered under the Bankruptcy Code.
The commercial real estate industry is having little trouble shrugging off today's challenging economic situations and its optimism is brewing with recent pandemic restrictions being lifted, according to a state of the market survey from DLA Piper.
COVID-19 Does Not Trigger Frustration of Purpose or Impossibility Defenses
Tenant Entitled to Actual Damages for Landlord Breach, But Not to Suspension Payment
COVID-19 Does Not Excuse Failure to Pay Rent
The 1971 agreement between Universal City Studios and creators of the TV series Columbo permitted Universal to be a distributor of Columbo "photoplays." But the contract parties failed to include "just one more thing" when negotiating their 17-page memo deal and two-page rider: a definition of the key term "photoplays."
During the 2017 to 2019 baseball seasons, allegations were made that individual baseball clubs were engaged in electronic "sign stealing." Shortly after this activity was acknowledged by Major League Baseball's Commissioner, a class action suit was filed, alleging that MLB made actionable misrepresentations that had an impact on the fantasy baseball games.
Landlords initially renting up new RPTL 421-a buildings routinely give incoming rent-stabilized tenants rent concessions to account for the fact that construction may be ongoing, and that there may still be punch list items in the apartments. This seemingly innocuous practice, however, has led to class-action litigation wherein tenants allege that rent concessions are part of a fraudulent scheme that results in massive building-wide overcharges under the Rent Stabilization Law.
Purchaser of Mixed-Use Building, Not Master Lessee of Residential Units, Liable for Rent Overcharges
Questions of Fact About Liability for Broker Commission After Expiration of Brokerage Agreement
Statute of Limitations Does Not Bar Strict Foreclosure Action
“Baseball arbitration” refers to the process used in Major League Baseball in which if an eligible player's representative and the club ownership cannot reach a compensation agreement through negotiation, each party enters a final submission and during a formal hearing each side — player and management — presents its case and then the designated panel of arbitrators chooses one of the salary bids with no other result being allowed. This method has become increasingly popular even beyond the sport of baseball.
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.
The DOJ's Criminal Division issued three declinations since the issuance of the revised CEP a year ago. Review of these cases gives insight into DOJ's implementation of the new policy in practice.
There is no efficient market for the sale of bankruptcy assets. Inefficient markets yield a transactional drag, potentially dampening the ability of debtors and trustees to maximize value for creditors. This article identifies ways in which investors may more easily discover bankruptcy asset sales.
With trillions of dollars to keep watch over, the last thing we need is the distraction of costly litigation brought on by patent assertion entities (PAEs or "patent trolls"), companies that don't make any products but instead seek royalties by asserting their patents against those who do make products.
