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When a creditor enters the realm of bankruptcy, lenders often find that the many detailed provisions of an extensively negotiated intercreditor agreement are no longer controlling. On the contrary, the intercreditor agreement may have little influence on the outcome of many critical matters that arise in bankruptcy. Questions regarding enforceability of bankruptcy-related waivers limit their effectiveness. Moreover, the exigent circumstances created by bankruptcy oftentimes mean that the written agreement is but one of many factors affecting outcome of intercreditor disputes in bankruptcy. Valuation, inter-facility claims trading, alignment of other claims and interests, among other things, further impact resolution of intercreditor issues. A considered strategy that accounts for all these various matters, coupled with flexible execution, is the key to maximizing position when the intercreditor relationship is subsumed by the bankruptcy of the borrower.
In anticipation of a bankruptcy proceeding, careful review of the particular terms of the intercreditor agreement is necessary to establish the parameters of the likely disputes, but the specific circumstances of the debtor should be incorporated in the strategies and responses that will affect the outcome of bankruptcy-related issues.
This article highlights how copyright law in the United Kingdom differs from U.S. copyright law, and points out differences that may be crucial to entertainment and media businesses familiar with U.S law that are interested in operating in the United Kingdom or under UK law. The article also briefly addresses contrasts in UK and U.S. trademark law.
There's current litigation in the ongoing Beach Boys litigation saga. A lawsuit filed in 2019 against Nevada residents Mike Love and his wife Jacquelyne in the U.S. District Court for the District of Nevada that alleges inaccurate payment by the Loves under the retainer agreement and seeks $84.5 million in damages.
With each successive large-scale cyber attack, it is slowly becoming clear that ransomware attacks are targeting the critical infrastructure of the most powerful country on the planet. Understanding the strategy, and tactics of our opponents, as well as the strategy and the tactics we implement as a response are vital to victory.
The real property transfer tax does not apply to all leases, and understanding the tax rules of the applicable jurisdiction can allow parties to plan ahead to avoid unnecessary tax liability.
In Rockwell v. Despart, the New York Supreme Court, Third Department, recently revisited a recurring question: When may a landowner seek judicial removal of a covenant restricting use of her land?