Bit Parts
Summary Judgment Denied Defendant in Declaratory Action by Producer of To Kill a Mockingbird Broadway Play Seeking Amateur Theatrical Rights
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Using Ground Leases in a Difficult Economy
Steven Simkin
&
Barry Langman
Particularly given the dramatic shifts in the real estate market in recent years, and the unpredictability of interest rates, inflation, taxes and other economic factors going forward, greater attention is being focused on ground leases. Here's why.
Features
Leveraged Buyouts Made Less Safe from Fraud Actions in Delaware
Corinne Ball
In the recent decision in <i>Mervyn's, LLC v. Lubert-Adler Group IV, LLC</i> (<i>In re Mervyn's Holdings LLC</i>), a Delaware bankruptcy court allowed a debtor to proceed with a suit against its former parent, alleging a fraudulent conveyance and breach of fiduciary duty to the debtor and its creditors.
Qualified Intermediary Bankruptcies
Emil Hirsch
&
Thomas Lynch
A look at the Land America bankruptcy, in which approximately 450 individual exchangers suddenly lost legal possession of their exchange proceeds when Land America filed for bankruptcy.
Features
Secured Lenders Do Not Have an Absolute Right to Credit Bid at Bankruptcy Plan Sales
Sam J. Alberts
&
David Lee Tayman
In a decision that could have wide-ranging consequences for secured lenders and the distressed debt market, a divided U.S. Court of Appeals for the Third Circuit has held that secured creditors do not have an absolute right to credit bid the value of their loans in Chapter 11 plan-based sales of assets.
<b><i>BREAKING NEWS:</i></b> Ruling Affirms Narrow Reading of 'Parent' in Same-Sex Case
Joel Stashenko
Declining to overrule a 19-year-old precedent, the Court of Appeals narrowly held on May 4 that a same-sex partner who has not adopted her partner's biological child cannot assert visitation rights under New York law.
Features
Adult Uses: Adequate Alternative Sites
Stewart E. Sterk
When municipalities enact zoning ordinances that restrict the location of adult uses, they must take care to assure that adequate alternative sites remain available.
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