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Are Lenders Becoming Less Concerned About Lender Liability?
Work for bankruptcy counsel over the past few years has not been limited to representing parties in Chapter 11 cases. A significant amount of time for many has been spent advising clients on how to deal with loans that are currently in default, but which are not being actively prosecuted by lenders. In these scenarios, parties are operating in a state of limbo, for better or worse.
Phrases like “extend and pretend” have been heard countless times over the last few years when talking about a bank's proclivity not to deal with troubled loans in its portfolios. Countless are the stories of borrowers who simply could not get their lender to engage in a dialogue about how to work out a troubled loan. States of paralysis like this do not last forever, and my market intelligence indicates that, it has already started to break.
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New York's Latest Cybersecurity Commitment
On Aug. 9, 2023, Gov. Kathy Hochul introduced New York's inaugural comprehensive cybersecurity strategy. In sum, the plan aims to update government networks, bolster county-level digital defenses, and regulate critical infrastructure.
Law Firms are Reducing Redundant Real Estate by Bringing Support Services Back to the Office
A trend analysis of the benefits and challenges of bringing back administrative, word processing and billing services to law offices.
Bit Parts
Summary Judgment Denied Defendant in Declaratory Action by Producer of To Kill a Mockingbird Broadway Play Seeking Amateur Theatrical Rights
Risks of “Baseball Arbitration” in Resolving Real Estate Disputes
“Baseball arbitration” refers to the process used in Major League Baseball in which if an eligible player's representative and the club ownership cannot reach a compensation agreement through negotiation, each party enters a final submission and during a formal hearing each side — player and management — presents its case and then the designated panel of arbitrators chooses one of the salary bids with no other result being allowed. This method has become increasingly popular even beyond the sport of baseball.