QDROs for Enforcement Purposes
March 29, 2004
As matrimonial practitioners, we are often confronted with the problem of enforcing either pendente lite or post-judgment awards of support, equitable distribution and counsel fees. Perhaps one of the most overlooked enforcement tools is the Qualified Domestic Relations Order (QDRO). While QDROs are used routinely to distribute all kinds of qualified deferred compensation benefits, they are also available for enforcement purposes.
The 'Doctrine of Necessity': Missing Authority
March 24, 2004
<i>Nothing ... in the Code covers payments made to pre-existing, unsecured creditors, whether or not the debtor calls them 'critical.' Judges do not invent missing language ... A 'doctrine of necessity' is just a fancy name for a power to depart from the Code. In re Kmart Corp.</i>, 2004 U.S. App. LEXIS 3397, *5, *11 (7th Cir. Feb. 24, 2004) (Easterbrook, J.)
Tactics for Defending Preference Actions
March 24, 2004
In a troubled business climate, a scenario all too often occurs wherein a once steady and reliable customer becomes delinquent in payment and eventually files for bankruptcy protection. In this common situation, your client's good customer becomes a debtor and your client becomes one of many creditors jockeying to recover a small portion of its investment. To make matters worse, your client receives a letter from the debtor or court appointed trustee demanding repayment of a pre-petition preferential payment pursuant to section 547(b) of the Bankruptcy Code (the Code).
The Leasing Hotline
March 22, 2004
Highlights of the latest commercial leasing cases from around the country.
In the Spotlight: Address Exclusions from Operating Expenses Prior to Lease Negotiations
March 22, 2004
Exclusions from operating expenses are frequently the subject of much wrangling between landlords and tenants in lease negotiations. Many sophisticated parties will deal with such exclusions in the Letter of Intent, a method which allows the business people to focus on the issue early, rather than having the lawyers argue about it during the lease negotiation.
Using Letters of Intent in Real Estate Leasing Transactions
March 22, 2004
Everyone wants to do the deal, but no one is ready to sign the lease. Zoning approvals, construction plans, financing, and a host of other issues need to be firmed up before the lease will be signed, but it is a lot of time and expense to go through if there's no agreement on the essential terms of the relationship. Hence, the Letter of Intent ("LOI"). An LOI is intended to, and should, give assurances to the parties, fix the agreed-upon terms of the deal, provide information and assurances to third parties, and provide a framework for further negotiations and the definitive agreement. It can, however, also be a minefield of potential problems and an invitation to litigation. This article reviews some of those problems and suggests ways to accommodate the parties' needs while avoiding the most common dangers.
