LJN Newsletters

The current financial environment has generated an atmosphere where not only are fewer "deals" taking place, but also many deals that are far down the path of consummation may fall apart. It is safe to assume we will continue to see a number of "busted deals."

Last year, Judge Richard A. Posner of the Seventh Circuit Court of Appeals wrote an opinion that sent shockwaves throughout the bankruptcy community, particularly in trustee circles. The shocking part of Maxwell v. KPMG, LLP was not its holding, but its dicta.

Recent rulings of interest to you and your practice.

Over the past two years, many states have passed "anti-idling" laws that prohibit excessive motor vehicle idling. The focus of these laws is on owners and operators of larger commercial vehicles, many are written so broadly that enforcement procedures and fines can be imposed on landlords/property owners and tenants of property ...

The first part of this article, which appeared in the December 2008 issue, discussed cases that address the preference for stability over sense, mitigation and interpretation of leases. The second part, which appeared in the February 2009 issue, discussed cases that address enforcement and violations. The cases in the conclusion herein address stipulations and eviction.

This is the third part in a series dealing with the subject of bankruptcy strategies and considerations for commercial landlords, tenants, lenders and real estate investors. These alerts are intended to highlight for our readers some of the key issues they may wish to consider in connection with the subjects discussed.

Under common law, absent a lease restriction, tenants had been free to assign their leasehold interest to others or to sublet all or part of their leased space. That rule of law is of little consequence today because virtually all leases restrict assignment and subletting rights, often in excruciating detail.

Analysis of recent high-profile cases.