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Litigation

  • Two Recent Cases Shed Light on Potential Risks to Preferred Equity Holders in Chapter 11 Preferred equity is a varied and flexible instrument, but, in practice, it typically has a limited number of common features. One feature is that it is entitled to a "liquidation preference" ahead of common stock. Whether the liquidation preference of preferred equity entitles preferred shareholders to priority over common shareholders in a Chapter 11 reorganization is a question that figured prominently in two recent high profile cases.

    June 01, 2022Adam Shpeen, Aryeh Ethan Falk and Stephen Ford
  • "Good-faith purchasers enjoy strong protection under [Bankruptcy Code] §363(m)," but the silent asset buyer ("B") with "actual and constructive knowledge of a competing interest" lacks "good faith," held the U.S. Court of Appeals for the Seventh Circuit.

    June 01, 2022Michael L. Cook
  • In 2015, the U.S. Supreme Court applied strict scrutiny to a sign regulation as it related to directional signs placed by a local congregation that held services at different locations each week. The Court took another look at the issue of strict scrutiny relating to "off-premises" signs in the case of City of Austin, Texas v. Reagan National Advertising , in which the majority concluded that strict scrutiny should not apply to determining whether the off-premises sign regulations at issue violated the First Amendment.

    June 01, 2022Steven M. Silverberg
  • A look at moves among attorneys, law firms, companies and other players in entertainment law.

    June 01, 2022ELF Staff
  • 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.

    June 01, 2022Paul Bergeron
  • "Artistic Relevance" Test Applied to NFTs Vape Musical Found to Be Copyright Fair-Use Parody of Grease

    June 01, 2022Stan Soocher
  • 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

    June 01, 2022Stewart E. Sterk