The Era of 'Busted Deals'?
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."
Trustee Liability and the Curious Case of Maxwell v. KPMG, LLP
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 <i>Maxwell v. KPMG, LLP</i> was not its holding, but its dicta.
Anti-Idling Laws: Landlords and Tenants Beware
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 Most Crucial Commercial Lease Cases
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.
How to Create Common and Uncommon Assignment/Subletting Problems
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.
