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Features
Recent rulings of interest to you and your practice.
Features
The unraveling of a $50-billion dollar Ponzi scheme allegedly perpetrated by Bernard L. Madoff has brought a new magnitude to an old but hardy scam. Here's a look at how Ponzi schemes work.
last fall, Congress breathed new life into the old WSLA law, amending it to apply to the ongoing conflicts in Iraq and Afghanistan as well as any future military engagements expressly authorized by Congress. The impact of these amendments will be significant for the defense of any clients who regularly do business with the government.
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In the current environment, factors such as a shortfall in assets, lack of debtor-in-possession financing and absence of potential buyers may make liquidation the only recourse in bankruptcy. With fewer dollars to satisfy claims, creditors may resort to litigation, alleging fraud as a means for obtaining recoveries. This could lead to additional exposures for directors and officers at companies facing bankruptcy.
Features
Recent rulings of interest to you and your practice.
Features
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 cases in Part Two herein address enforcement and violations.
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Today, landlords are particularly worried about tenant bankruptcies. True, this has always been a concern for commercial landlords, but previously their focus may have centered on smaller, start-up businesses rather than the large anchor tenants that are currently seen knocking on the bankruptcy court's door.
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There are several different types of rent relief, ranging from an all inclusive "gross" rent, to a temporary reduction in base rent, or converting the economic terms of the lease from fixed rent payments to a "percent in lieu" deal, where the tenant's rental obligation is based on a percentage of gross sales generated at the premises. This article describes the options.