Litigation

Features

Both litigators and transactional lawyers know the basic drill: specific performance is available for breach of a contract whose subject matter is so unique that money damages will not adequately compensate the non-breaching party. But it does not necessarily follow that specific performance is generally available for breach of an agreement that involves real estate. This article discusses why and suggests some ways parties can achieve more certainty in this regard.

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In recent years, as extensive pre-bankruptcy planning has evolved, bankruptcy filings frequently involve affiliates of larger companies, engineered with a structuring of liabilities in mind. The question of whether these targeted filings are for a legitimate bankruptcy purpose or should be dismissed has been the subject of significant high-profile litigation.

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By enabling defendants to shield themselves from mass tort liability, the "Texas Two-Step" is a new obstacle for plaintiffs pursuing mass tort cases against manufacturers of dangerous products.

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If economic pressures become intense and defaults are a possibility, redevelopers and their lenders will be driven to consider the unique issues presented when there is a default on a redevelopment project, including consideration of a bankruptcy filing to stave-off creditor lawsuits or real estate foreclosure

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The verdict, which excluded punitive damages, could have been much larger. But the jury's award has the potential to threaten the $8.9 billion settlement and, as a result, a proposed Chapter 11 reorganization plan in the bankruptcy of Johnson & Johnson's LTL Management.

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The growth in size of companies dominating sectors of the entertainment industry has been subject to antitrust challenges with mixed results. What are some notable recent developments in this area?

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An involuntary bankruptcy petition is a limited, risky remedy for both creditors' counsel and debtor's counsel. The fee problems encountered by counsel for the petitioners and the putative debtor in this case provide a cautionary tale.

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Despite a provision in a commercial lease that prohibited electronic notice, the Massachusetts Appeals Court sided with a tenant in holding that an email to its landlord constituted effective notice to opt out of an automatic five-year lease extension.