This article discusses the trend toward increased corporate litigation investment, preparedness and use of internal and external resources to simplify the process of responding to document-intensive requests. It also highlights recent common-law examples of where corporate litigation preparedness and/or response efforts have fallen short, resulting in costly consequences.
Setting aside the contentious issue of whether stimulus activities are good for the economy at large, it is important that applicants for, and recipients of, stimulus funds realize that participation in these programs could result not only in significant benefits, but also in exposure to legal liability.
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.
