In the Spotlight: Planning for Redevelopment
February 27, 2007
For years, the commercial real estate market has been sizzling.Cap rates are down. Prices are up.Nevertheless, you managed to beat out the competition and buy a few shopping centers. To justify the price you paid, however, you need to increase the net operating income ('NOI') from your property. Now, however, the economy may be facing the headwind of a slowdown, if not an outright recession, which creates resistance to rent increases; so you may not be able to rely on ordinary rent increases to bolster your NOI.
Dealing with the Risk of Events of Force Majeure
February 27, 2007
Force majeure clauses are used in leases to extend the date upon which a party's performance of an obligation is due. Often such obligations pertain to the delivery of the building and/or leased premises. This article explains and discusses sample force majeure clauses and suggests ways to protect the party not claiming a delay caused by an event of force majeure.
Powerhouse Industry Firm Divorces
February 27, 2007
Marshall Grossman and Stanton 'Larry' Stein may be in for some awkward elevator rides. The two heavyweights at L.A.'s Alschuler Grossman Stein & Kahan officially divorced Jan. 1, after a year-long tug-of-war over the future of the 90-lawyer firm they'd fused together seven years ago. Now they've got their own firms, but they're just one floor away in Santa Monica's Water Garden building.
Predispute Contractual Waivers of Jury Trial
January 31, 2007
Predispute waivers of jury trials are unenforceable under California law, subject to certain limited exceptions. While the recent California Supreme Court case of <i>Grafton Partners v. Supreme Court</i>, invalidated such waivers, there remain two ways that parties can agree, predispute, to avoid a jury trial in commercial real property related transactions.
Index
January 31, 2007
A complete list of the cases included in this issue.
In the Marketplace
January 31, 2007
Highlights of the latest equipment leasing news from around the country.
Clarity Ahead for Enforcing Jurisdiction Clauses in the EU?
January 31, 2007
In a recent development that will likely be of interest to lessors and other parties conducting business in Europe, the American Bar Association has urged the U.S. government to sign, ratify, and implement the Hague Convention on Choice of Court Agreements (the 'Choice of Court Convention'). The Choice of Court Convention accomplishes many goals that have long been sought by the United States. Most importantly, it provides a mechanism for the recognition of certain judgments rendered by U.S. courts, namely judgments resolving a dispute arising out of a commercial agreement that was submitted pursuant to an exclusive choice of court agreement. (See American Bar Association, Recommendation adopted by the House of Delegates (Aug. 7-8, 2006), at <i>www.abanet.org/intlaw/policy/investment/hcca0806.pdf.</i>)
