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Going It Alone
May 27, 2008
U.S. antitrust enforcement, once the impetus for numerous foreign blocking statutes, now epitomizes the type of global cooperation necessary for effective law enforcement. But the past six years offer potent counterexamples that highlight the dangers of unilateralism and disrespect for foreign sovereignty ' some relatively minor, others far more consequential.
Lawyers and Money Laundering
May 27, 2008
While the duty of lawyers representing financial institutions in the U.S. is almost solely toward their clients, in the EU, lawyers have affirmative obligations to report suspected money-laundering activity to government authorities. In other words, lawyers may be involuntarily conscripted as enforcement agents or 'gatekeepers' at the institutions they represent. American lawyers in the European offices of U.S.-based 'international' law firms are not exempt.
On the Move
May 27, 2008
Who's going where; who's doing what.
Bankruptcy Filings in Calendar Year 2007
May 27, 2008
The vast majority of petitions filed during 2007 were non-business cases; in fact 96.7% of all cases filed in 2007 were non-business. In calendar year 2007, there were 822,590 non-business cases filed, a 38% increase from the 597,965 non-business bankruptcy filings in 2006. By contrast, in 2005, non-business filings totaled 2,039,214.Here's the breakdown.
Rediscovering Chapter 9 As Financial Woes of Municipalities Escalate
May 27, 2008
Last month, the authors discussed the fact that even though Chapter 9 of the Bankruptcy Code has been in effect for over 30 years, fewer than 100 Chapter 9 cases have been filed during that time. Municipal bankruptcy cases ' or, more accurately, proceedings involving the adjustment of a municipality's debts ' are a rarity, compared with reorganization cases under Chapter 11. This, however, may be changing. The authors now continue that discussion.
No Stay for the Weary
May 27, 2008
The Delaware Court of Chancery recently emphasized that issues of corporate governance remain the purview of the state of incorporation, notwithstanding the filing of a bankruptcy petition and the accompanying automatic stay, which ordinarily acts to halt proceedings against the debtor.
The Benefits Priority Cap of ' 507(a)(5)
May 27, 2008
Thirty years after the enactment of BAPCPA, there are still unresolved issues that arise from time to time under the pre-BAPCPA Bankruptcy Code. One such issue involves the proper application of the statutory priority cap found in Bankruptcy Code ' 507(a)(5), including its interplay with ' 507(a)(4).
In the Spotlight: Preparing Form Leases for Mixed-Use Projects
May 27, 2008
As the construction of mixed-use projects continues to grow across the nation and globally, all parties involved must understand the dynamics of the project in which they are involved and how best to structure the relationships among the several parties, which will generally have divergent interests. The building block for this relationship will likely be a form lease.
Buying a Mixed-Use Building in New York City
May 27, 2008
It is a complicated task to purchase a New York City commercial building with known or potential residential tenancies. However, with careful physical and documentary investigation, most of the potential traps for an unwary buyer can be revealed.
DON'T DO THAT!
May 23, 2008
DON'T DO THAT! It is amazing how out of touch some attorneys are when attending a pitch, lunch or presentation session with potential clients. Some of the comments I've heard about meetings: * "They spent most of the time talking to themselves, not us." * "What a complete lack of respect, let alone interest - one was using a Blackberry, one answered two phone calls during our meeting, and one was a potted plant." * "There were 2…

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