Relying Solely on An Indemnfication Provision
October 25, 2012
A recent Massachusetts appellate court opinion highlights the dangers of failing to include rent acceleration and liquidated damages provisions in commercial leases and relying solely upon an indemnification provision to collect post-termination damages.
In the Spotlight: AIA Releases Sustainable Projects Contract Documents
October 25, 2012
The American Institute of Architects (AIA) recently released a set of new contract documents to define roles and responsibilities and to provide procedures and processes for owner, architects and contractors to identify sustainability goals and to map out a plan to achieve those goals.
Making Your Leases Work with Your Loan Documents
October 25, 2012
Among the various reasons for complying with your loan documents, the most compelling is the fact that the typical non-recourse carve-out for unpermitted "transfers" may include leases that are not approved in accordance with your loan documents.
Economic Outlook Report
October 24, 2012
The Equipment Leasing & Finance Foundation has released the fourth quarter update to its 2012 Equipment Leasing & Finance U.S. Economic Outlook, which projects growth in equipment and software investment for 2012 at 6.7%, down from the 2011 growth rate of 11%.
Creditor Recoupment
September 26, 2012
The U.S. Court of Appeals for the Eighth Circuit recently held that equitable considerations could not prevent a creditor's recouping of amounts owed to it by a Chapter 7 debtor.
Perfection and Priority of a Security Interest in Internationally Mobile Goods
September 26, 2012
Even if a loan to a borrower is made by the Cayman Islands branch of a lender, and thus neither lender nor borrower has any "presence" in New York (other than, not atypically, lender's counsel), the parties' choice of New York law should be effective, as New York permits parties to commercial agreements involving not less than $250,000 to "agree that the law of this state shall govern their rights and duties in whole or in part, whether or not such contract, agreement or undertaking bears a reasonable relation to this state."
Mall's 'Minimal Precautions' Spare It Liability for Murder
September 25, 2012
Since the owners of an Ulster County, NY, mall took at least "minimal precautions to protect tenants from foreseeable harm," they cannot be held liable for the brutal after-hours murder of the night manager of a restaurant, an appellate court has held.