Analyzing the New York Franchise Act of 1980: Q&A with Thomas M. Pitegoff, New York Bar Association, Business Law Section
In August 2005, the New York Bar Association authorized the formation of a subcommittee of the Business Law section to review, analyze, and possibly revise or rewrite the New York Franchise Act of 1980 to better reflect the current franchising landscape. The subcommittee has held several meetings and is soliciting input from all interested parties. In this interview, Thomas M. Pitegoff (White Plains, NY) discusses the initial goals of the subcommittee, its progress to date, and its continued interest in receiving comments from franchisors, franchisees, and their representatives, and others who may be affected by the New York franchise law.
Form vs. Function: When Is a Lease a 'True Lease'? The Seventh Circuit Applies Substance over Form in United Airlines v. HSBC Bank
Financing deals have become increasingly complicated as parties attempt to raise capital and take advantage of accounting and tax incentives. These transactions often face scrutiny when one party files for bankruptcy. During a Chapter 11 reorganization, a debtor must use all tools at its disposal to best restructure its obligations. In contrast, a creditor must work to ensure it receives the best possible return. The term "lease" is not defined in the Bankruptcy Code. Due to this lack of a clear definition, creditors and debtors will often attempt to recharacterize agreements between the parties. In this context, a secured creditor or debtor may argue that a "lease" is actually a disguised secured financing. In the converse, a party could also argue a secured financing is actually a "true lease." This is due to the Bankruptcy Code's different treatment of secured debt and leases. Depending on the factual scenario, this differing treatment could significantly change the parties' obligations.
Negotiating Alignment, Not Agreement: A Guide to Effective Tenant Negotiations
What do negotiators fear most? Failure, being manipulated and being second-guessed. Why do negotiators fail and why are they manipulated or second-guessed? Often, it's lack of adequate preparation and disregard for the issues, purposes and concerns of the other side. A lack of internal alignment can lead to confusion and that dreaded second-guessing. A well-prepared negotiator can be manipulation proof, avoid the second-guessing and achieve valuable results.
A Primer on Terrorism Insurance
The Terrorism Risk Insurance Act ("TRIA"), 15 USC §6701 <i>et. seq.</i>, designed to make terrorism insurance readily available to property owners, is scheduled to sunset on Dec. 31, 2005. If the Act is not extended and the cost of terrorism insurance becomes prohibitive, lenders and borrowers may once again find themselves embroiled in controversy over the question of whether governing loan documents require such insurance.
The Best of MLF 2005: Looking Back at the 'Benchmark' Year
Well, it's been an exciting year here at <i>Marketing the Law Firm</i>. As with past practice, this month's issue will be a look back at the year that was. In this issue we will present February (the January issue recaps part of 2004) through July.
The MLF 50: Highlights
The MLF 50 ' The Top 50 Law Firms in Marketing and Communications appeared in a special September/October issue of MLF. Here are some of the highlights of that issue, including mention of the top five firms.
Using Client Profiles for Future Case Management
After a rigorous search, which involved input from key firm personnel including our IT director, paralegals, attorneys, senior managing partners, and the Chief Operating Officer, we selected Client Profiles as our case management solution. Since the selection, we have been able to revolutionize the way our users access, share and update information related to all cases and matters; have seen firm-wide adoption of 100%, and are realizing numerous technology-related cost savings and productivity enhancements.
