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The Do's and Don'ts of 'Yellowstone' Injunctions: A Brief Survey Image

The Do's and Don'ts of 'Yellowstone' Injunctions: A Brief Survey

Daniel A. Cohen & Fielding E. Huseth

A Yellowstone injunction proceeding is a proceeding in New York court in which a commercial tenant seeks to enjoin the landlord from evicting the tenant for an alleged breach of the lease. This temporary relief preserves the tenant's ability to cure should the court determine that the tenant is in breach, and thus avoid forfeiting its substantial investment in the leasehold.

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Substantive Non-Consolidation Opinion Letters: Advice for Bankruptcy Counsel Image

Substantive Non-Consolidation Opinion Letters: Advice for Bankruptcy Counsel

Paul A. Rubin & Hanh V. Huynh

Substantive non-consolidation opinion letters have long been a regular "check-the-box" item in large commercial real estate transactions. While substantive consolidation jurisprudence has not changed materially over the past decade, these opinion letters should not be treated lightly by borrowers or their counsel.

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After a Hurricane: Can the Property Manager Be Blamed for a Lessee's Losses? Image

After a Hurricane: Can the Property Manager Be Blamed for a Lessee's Losses?

Janice G. Inman

The recent decision in <i>Sears Roebuck & Co. and Kmart Corp. v. W/S Lebanon LLC</i> seems timely in light of the fact that commercial landlords, tenants and their insurance providers are grappling with the problems caused by the extreme wind and rain of hurricanes. Here's what happened in that case.

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'I Thought I'd Seen It All with Rights of First Refusal, But I Was Mistaken' Image

'I Thought I'd Seen It All with Rights of First Refusal, But I Was Mistaken'

Marisa L. Byram

This article shares an actual recent dispute in which a landlord claimed there was a mutual mistake in the material terms of a right of first refusal after the proper exercise of such right and acceptance of such material terms by its tenant.

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A Broadening Consensus to Narrow Asset Forfeiture Image

A Broadening Consensus to Narrow Asset Forfeiture

Edmund W. Searby

It's important to keep informed of the trends in the realm of asset forfeiture, especially now that the current federal administration has announced its intention seek more asset forfeitures going forward. Here's why.

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Easy As FMV: Modern Fair Market Value Renewal Methods Image

Easy As FMV: Modern Fair Market Value Renewal Methods

John G. Kelly

This article discusses the competing interests and criteria of landlords and tenants in defining fair market value, explores various mechanisms used for resolving disputes over fair market rental rates, and concludes with proposed language that represents a healthy compromise for both sides.

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Stick to the 'Plain Meaning' Image

Stick to the 'Plain Meaning'

Janice G. Inman

<b><I>Interpreting Lease Contract Terms</I></b><p>The complications that can and do arise in the field of commercial leasing come in all shapes and sizes, and not all can be anticipated. However, with careful planning, and if the stars align, lease terms sometimes cover even an abnormal future event, preserving the agreement that the parties undoubtedly contemplated at signing

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