Case Notes
August 01, 2019
Failure to Read Lease is Not Fatal to Claim
Let Freedom (of Contract) Ring: Yellowstone Waivers Are Enforceable
July 01, 2019
This is the third in a series of articles exploring whether parties to a commercial lease can contractually waive a tenant's right to seek a Yellowstone injunction. In a recent ruling, the Court of Appeals, in 159 MP Corp. v Redbridge Bedford, LLC, left no doubt that a contractual waiver of a right to seek a declaratory judgment and/or a Yellowstone injunction in a commercial lease is enforceable.
Landlord Considerations When Drafting Assignment and Subletting Provisions
July 01, 2019
Restricting a tenant's right to transfer the property it is leasing to a third party is a key component to any lease. Many lenders require landlords to obtain lender consent before the transfer is effective. Failure to obtain such consent could lead to a landlord's default under the terms and conditions of the loan documents, so it is imperative for a landlord to review its loan documents each time it receives a request from a tenant to transfer its interest under the lease.
Retail's New Normal
July 01, 2019
Welcome to the evolving world of retail — a world that is geared toward changing the way people engage in retail and retail destinations feature a blend of entertainment, experiences and services.
Does a Roof's Warranty Remain Effective Under Solar Panels?
July 01, 2019
The growing interest in alternative fuel sources may be a boon for property owners seeking new ways to generate profits and savings. But care should be taken when a roof is the proposed site of a solar-panel installation, whether managed by a property owner or by a lessee.
Navigating the Attorney-Client Privilege and Work Product Doctrine in Bankruptcy
July 01, 2019
When a company declares bankruptcy, avoidance actions under Chapter 5 of the Bankruptcy Code can assist in securing extra cash for the debtor's dwindling estate. When a debtor-in-possession does not pursue these claims, creditors' committees often seek the bankruptcy court's authorization to pursue them on behalf of the estate. Once granted such authorization through a “standing order,” a creditors' committee is said to “stand in the debtor's shoes” because it has permission to litigate certain claims belonging to the debtor that arose before bankruptcy. However, for parties whose cases advance to discovery, such a standing order may cause issues by leaving undecided the allocation of attorney-client privilege and work product protection between the debtor and committee.
Case Notes
July 01, 2019
Option to Buy Is Exercised, and 'Tenant' Is No Longer a Tenant
Permitted Uses: Flexibility and Adaptability
June 01, 2019
When negotiating permitted-use clauses under retail leases, landlords attempt to achieve the most comprehensive limitations possible so as to avoid conflicts with other tenants' leases and violations of exclusive-use clauses that are maintained by other tenants in the retail facility. Tenants, however, should be very careful to incorporate a certain degree of flexibility and adaptability into their leases' permitted-use clauses to take into account an evolving landscape.
The Unlicensed Real Estate Broker in New York: Beware
June 01, 2019
The U.S. District Court for the Northern District of New York recently determined that because New York prohibits unlicensed real estate brokers from pursuing payment in its courts for services rendered, a plaintiff who performed real estate work for a client who then did not pay had no standing to sue.
The Best Markets for Opportunity Zone Investors
June 01, 2019
Opportunity zones are the latest big thing to hit the commercial real estate market, but many questions remain, including details of how deals can be structured, the best strategy for investing and just how much property there is in the zones.
