This edition of the Quarterly State Compliance Review looks at some legislation of interest to corporate lawyers that went into effect on Jan. 1, 2010. It also looks at some recent decisions of interest, including two from the Delaware Chancery Court.
The Axcelis decision demonstrates the continued reluctance of Delaware courts to allow plaintiffs to utilize DGCL ' 220 as a means to troll for lawsuits against corporations.
Recent rulings of interest.
The recent decision in Reliastar Life Insurance Co. of New York v. Home Depot U.S.A., Inc. illustrates once again the limits of a purchaser's or lender's ability to rely on an estoppel certificate, especially when a tenant is entitled to claim constructive eviction. Moreover, the court determined that constructive eviction would trump a "hell or high water" commitment to pay rent.
While a typical for-profit client may have experience with lease negotiations or the benefit of an experienced broker, often the tax-exempt organization will not have this advantage and may, therefore, rely more heavily upon its attorney.
Did you ever think it was good practice to order a title search when your client contemplated putting in expensive improvements or in other situations where the lease may have value? It may never have crossed your mind that the failure to discuss this option with your client could amount to professional malpractice ...
Lawyers are celebrated for their ability to employ subtlety and finesse. However, when addressing a commercial landlord's duty to mitigate damages upon a tenant's default, it pays to be blunt.
As of Sept. 1, 2009, divorcing couples in New York no longer need to seek a temporary restraining order prohibiting their spouse from the unauthorized spending, transfer or concealment of assets under a rule established by court administrators.
It can be a difficult task to persuade a court that it should permit the relocation of a child. Here are some of the pitfalls and how to avoid them.
In December, the New York State Legislature failed to pass a proposed same-sex marriage bill. As everyone knows, however, that is not the end of the story. More attempts will be made, and many issues surrounding same-sex marriage will continue to be debated and litigated.
