The ABCs of Assignments for the Benefit of Creditors (ABCs)
July 31, 2020
General assignments for the benefit of creditors (ABCs) have been and continue to be a popular business liquidation device for the orderly wind down of corporations, limited liability companies, and even nonprofit corporations and general partnerships. Just as in bankruptcy, an ABC can also be used to facilitate a going-concern sale of the debtor's assets to a third-party. Includes an interactive state-by-state map.
Real Property Law
July 01, 2020
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
New York Court Allows J.Crew to Shutter Under Terms of Mall Lease Despite Continuous Operations Provision
July 01, 2020
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.
New Strategies for Renegotiating Office Leases Post-COVID
July 01, 2020
Current circumstances present an opportunity for tenants to use new strategies to renegotiate or even terminate leases. This article looks at conventional legal strategies that may provide grounds for lease termination before turning to consider another, third, approach.
Real Estate Loan Workout: Exchange of Enhancements for Concessions
July 01, 2020
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.
Law Firm Leasing Drops During COVID-19
July 01, 2020
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.
Landlord & Tenant Law
July 01, 2020
Lease Provision Does Not Bar Conversion Claim for Damages After Issuance of Warrant of Eviction
Creative Strategies for Landlords and Tenants to Survive the COVID-19 Shutdown
June 01, 2020
When COVID-19-related restrictions imposed by state and local governments are lifted, there is no guarantee that they will have done more than delay the inevitable: eviction and bankruptcy. Modifications should be used to cut risk and losses. If at all possible, landlords and tenants should cooperate now to avoid that outcome.
