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Serving Two Masters: When 'Bankruptcy Remote' Meets Public Policy Image

Serving Two Masters: When 'Bankruptcy Remote' Meets Public Policy

Pamela J. Martinson

<i><b>How Lenders to BREs Can Reduce the Risk of Debtor Bankruptcy Without Compromising Public Policies</b></i><p>Structured financing transactions, including those pertaining to commercial real estate, make extensive use of entities formed for the specific purpose of reducing the likelihood that assets will be involved in a potential bankruptcy proceeding. Known as “bankruptcy-remote entities,” or “BREs,” these entities are subject to structures and covenants in financing documents and their own formation documents, which are designed to reduce the likelihood that the BRE will file for bankruptcy protection.

Features

Anti-Forfeiture Statute Saves a Debtor's Exercise of Option to Renew Lease Image

Anti-Forfeiture Statute Saves a Debtor's Exercise of Option to Renew Lease

Barry M. Klayman & Mark E. Felger

In a recent decision, Bankruptcy Judge Christopher S. Sontchi addressed the question of whether a Chapter 11 debtor, the tenant under a commercial lease, could exercise an option to renew the lease during the bankruptcy proceedings, even though the debtor was in default under the lease and the lease specified that it could not be renewed if defaults existed at the time the option was exercised.

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Landlord & Tenant Image

Landlord & Tenant

ssalkin &

Section 8 Status Protects Tenant from Eviction<br>Questions of Fact About Acceptance of Surrender

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Case Notes Image

Case Notes

ssalkin &

Moratorium Invalidated Where Consideration of Zoning Changes Not Planned<br>In Texas, LLCs Cannot Be Made to Pay Attorney Fees<br>No Interaction, No Equitable Tolling

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Real Property Law Image

Real Property Law

ssalkin &

Punitive Damages for Intentional Encroachment<br>Questions of Fact About Readiness to Perform<br>Issues of Fact Preclude Summary Judgment in Action for Brokerage Commission<br>No Meritorious Defense to Foreclosure Action

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Development Image

Development

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Town Board Failed to Take 'Hard Look' at Amendment<br>Jurisdictional Determination from Army Corps<br>Developer Failed to Allege Concrete Injury

Features

Lender's Choice In Naming Defendants Is Under Assault Image

Lender's Choice In Naming Defendants Is Under Assault

Bruce J. Bergman

Can a foreclosing plaintiff choose whom to name as a party defendant in a foreclosure action? In New York, in the absence of prejudice to the defaulting property owner, the answer is yes. Although a recent holding of New York's Appellate Division, Second Department, tacitly suggests “no,” the case may not have addressed the actual controlling principles.

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Landlord & Tenant Image

Landlord & Tenant

ssalkin &

Renewal Option<br>Illusory Tenancy Claim

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Case Notes Image

Case Notes

ssalkin &

Trial Required to Disprove Malice<br>Court Upholds Conditions Imposed on Zoning Variance<br>Lease Identified<br>Notice of Termination Not Defective for Being Sent By Attorney<br>Hearing Required to Determine Whether Lease Denied for Unconstitutional Reasons

Features

'Trial of the Century' Takes on Hell or High Water Image

'Trial of the Century' Takes on Hell or High Water

Paul Bent

<b><i>Will a Rising Tide of Managed Solutions Transactions Sink the Most Venerated of Leasing Provisions?</i></b><p>There is change afoot in the equipment leasing marketplace, and it portends a potentially seismic shift in the perception, usefulness and utility of the well-tested HOHW clause.

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