Part One of this article discussed the Penn Central multifactor takings test. The conclusion addresses the "whole parcel" rule announced in Penn Central as well as the two-part takings test established by Agins v. City of Tiburon, 447 U.S. 255 (1980) and suggests strategies to redress loss of property values due to regulations.
Everything in this issue, in an easy-to-follow format.
In-depth analysis of a recent key case.
Recent rulings of importance to you and your practice.
Recent rulings of interest to you and your practice, with key analysis.
Present-day real estate financing is significantly more complex than traditional financing. Sobered by borrower bankruptcies and compelled by rating agency requirements in the modern day era of mortgage securitizations, lenders are now looking to "mezzanine loans" to bridge the gap between senior debt and borrower equity. A mezzanine loan will often cover 50% to 90% of the equity required to acquire a property. In order to secure the repayment of a mezzanine loan, a lender customarily requires a pledge of the partnership or membership interests of the property owning entity.
Recent rulings of interest to you and your practice.
Part Two of a Two-Part Article. Even the IRS appears to have some reservations about its position, particularly as such position is applied to the corporate transferee collecting payments on a shareholder note received as a capital contribution in a Section 351 transaction (or otherwise).
Most professionals in our area of the law hate custody trials. We see how children are pulled apart by the inability of their parents to resolve their disputes; the pressure children face when they are put in the middle of a conflict and the pain of submitting to examinations by different experts, psychologists, lawyers and judges. Those of us who practice responsibly try to inform our clients, to the extent possible, of the risks to their children. We caution them, when we see them spinning off into their anger, or their desire for revenge, to think of their children. We advise them to hire therapists for children who are having trouble. We tell them to encourage their children to attend school-run groups for children whose parents are divorcing.
