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Features

New York Court Allows J.Crew to Shutter Under Terms of Mall Lease Despite Continuous Operations Provision Image

New York Court Allows J.Crew to Shutter Under Terms of Mall Lease Despite Continuous Operations Provision

Danielle C. Lesser

Malls across America, long suffering even before the rise of COVID-19, are now forced to confront a wave of store closures. Troubled retailers will, without doubt, seek to close their failing mall locations. To stem these efforts, landlords have applied to courts for injunctive relief to force stores to remain open and operating, despite lagging sales, through the enforcement of the "continuous operations provision" found in mall leases.

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Real Property Law Image

Real Property Law

ssalkin

Insufficient Hostility to Establish Title By Adverse Possession or Prescriptive Easement Adverse Possession Claim Against Governmental Land Upheld When Land Not Held for Governmental Purposes No Preliminary Injunction in Action to Declare Sale Contract Void

Features

New York Court Allows J.Crew to Shutter Under Terms of Mall Lease Despite Continuous Operations Provision Image

New York Court Allows J.Crew to Shutter Under Terms of Mall Lease Despite Continuous Operations Provision

Danielle C. Lesser

Malls across America, long suffering even before the rise of COVID-19, are now forced to confront a wave of store closures. Troubled retailers will, without doubt, seek to close their failing mall locations. To stem these efforts, landlords have applied to courts for injunctive relief to force stores to remain open and operating, despite lagging sales, through the enforcement of the "continuous operations provision" found in mall leases.

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Development Image

Development

ssalkin

Despite Proximity, Neighbor Lacked Standing to Challenge Alleged Zoning Violation Neighbors Entitled to Remedy Against Landowner's SLAPP Suit Area Variance Denial Overturned

Columns & Departments

Eminent Domain Law Image

Eminent Domain Law

ssalkin

Condemnation Upheld Despite Benefit to Private Party

Features

Real Estate Loan Workout: Exchange of Enhancements for Concessions Image

Real Estate Loan Workout: Exchange of Enhancements for Concessions

Richard S. Fries

As a result of the coronavirus pandemic, a property owner might reach out to its lender for urgent, needed debt relief. The lender, which strives for a performing asset, an on-going relationship with its customer makes concessions. In exchange for these concessions, the lender should obtain credit and legal enhancements., which should also enable the lender to make concessions that are more meaningful to the property owner, its investors, its tenants and its business.

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Co-ops and Condominiums Image

Co-ops and Condominiums

ssalkin

Sponsor Correctly Calculated Reserve Fund Shareholder Did Not Breach Survival of Closing Affidavit

Features

Law Firm Leasing Drops During COVID-19 Image

Law Firm Leasing Drops During COVID-19

Christine Simmons

Overall, the pandemic will likely result in long-term changes for law firm offices. While law firm leasing activity will eventually pick up, firms may decrease their overall footprints, taking up 10% to 15% less square footage because some people will continue working from home.

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Landlord & Tenant Law Image

Landlord & Tenant Law

ssalkin

Lease Provision Does Not Bar Conversion Claim for Damages After Issuance of Warrant of Eviction

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Landlord's Action Does Not Give Rise to Deceptive Practice Liability Image

Landlord's Action Does Not Give Rise to Deceptive Practice Liability

Stewart E. Sterk

Jeffrey Turkel's lead article in last month's issue focused on the Regina Metropolitan case, in which the Court of Appeals invalidated a number of…

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MOST POPULAR STORIES

  • 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.
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  • Private Equity Valuation: A Significant Decision
    Insiders (and others) in the private equity business are accustomed to seeing a good deal of discussion ' academic and trade ' on the question of the appropriate methods of valuing private equity positions and securities which are otherwise illiquid. An interesting recent decision in the Southern District has been brought to our attention. The case is <i>In Re Allied Capital Corp.</i>, CCH Fed. SEC L. Rep. 92411 (US DC, S.D.N.Y., Apr. 25, 2003). Judge Lynch's decision is well written, the Judge reviewing a motion to dismiss by a business development company, Allied Capital, against a strike suit claiming that Allied's method of valuing its portfolio failed adequately to account for i) conditions at the companies themselves and ii) market conditions. The complaint appears to be, as is often the case, slap dash, content to point out that Allied revalued some of its positions, marking them down for a variety of reasons, and the stock price went down - all this, in the view of plaintiff's counsel, amounting to violations of Rule 10b-5.
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