Holders of Unredeemed Gift Cards Denied Bankpruptcy Priority
November 01, 2016
For some time now, the brick and mortar side of the retail industry has been in financial distress. In 2015 and 2016 alone, brand-name companies such as Sports Authority, RadioShack, Aéropostale, American Apparel, Eastern Mountain Sports and City Sports sought bankruptcy protection. A common question in these cases is how to treat holders of unredeemed gift cards. Are they near the back of the line with other general unsecured creditors, or are they entitled to “priority” payment status under the Bankruptcy Code?
Vendor's Reclamation Rights Survive Lien of Post-Petition DIP Loan
November 01, 2016
In <i>In re Reichhold Holdings US</i>, bankruptcy judge Mary F. Walrath upheld the validity of a vendor's administrative claim for its reclamation rights under Section 546(c) of the Bankruptcy Code as against a post-petition DIP lender. In doing so, Judge Walrath declined to follow cases from the Bankruptcy Court of the Southern District of New York that held otherwise.
Industry Growth for 2016 Forecast to -0.5%
November 01, 2016
In what began as a year with a forecast of modest growth, The Equipment Leasing & Finance Foundation (ELFA) has just released its Q4 update to the 2016 Equipment Leasing & Finance U.S. Economic Outlook, reducing the year's growth expectations to -0.5%, marking a steady decline in growth forecast for the year.
Case Notes
November 01, 2016
Landlord's Self-Proclamation of Tenant's Breach Costs It Big
The Troubled Energy and Production (Oil and Gas) Sector
October 14, 2016
The oil and gas exploration sector in North America has been crushed by high debt, globally low oil prices and regional overcapacity. The result: Over 100 oil and gas exploration and production companies have filed for bankruptcy over the past 18 months, and dozens more are expected to follow.
Going Green in Commercial Leasing
October 14, 2016
Millennials have started altering consumer trends and pushing for sustainable offerings. In this environment, it becomes important for landlords and tenants alike to make a large, positive environmental impact by constructing and leasing facilities that are more energy efficient.
Brokerage Commissions
October 14, 2016
When negotiating the terms of a new relationship with a leasing broker, an owner of a multi-tenant commercial property or a tenant seeking to sublease its space may be presented with a written brokerage agreement that is lengthy and complex. The amount of commission payable and the time and manner of that payment can be difficult to discern from boilerplate provisions.
Defining 'Occurrence' in Insurance Can Have Major Impact in Recovery
October 14, 2016
Occurrence" in an insurance policy is a fickle word. Sometimes it means only one. Other times it means many. Moreover, courts may treat the meaning of "occurrence" differently depending on whether it is an occurrence in a first-party property damage claim or in a third-party liability claim.
Case Notes
October 14, 2016
In-depth discussion of an important ruling.
Board of Editors
October 06, 2016
Accounting and Financial Planning for Law Firms
Lawrence L. Bell
Advisors, LLC, Kensington, MD
Wayne Berkowitz
Berdon LLP, New York
James…
