The Times, They Are A-Changin'
April 02, 2015
As more and more commercial clients move their legal teams in-house, competition among law firms continues to grow. With the legal industry still feeling negative impacts from the financial crisis, a considerable number of law firms have been pooling expertise and gaining market share through mergers and acquisitions.
Subjective Intent Does Not Save $1.5B Secured Claim Against GM
April 02, 2015
Sometimes, the simplest of errors can be the most costly. Such was the case with a large syndicated secured loan made to General Motors Co. Due to a simple filing error, what the lender and borrower had always intended to be a secured loan will now be treated as a general unsecured claim.
Commercial Lease Diligence
February 28, 2015
This article reviews the recommended due diligence efforts of the purchaser's counsel with respect to leased commercial property, and elaborates on the pre- and post-closing rationales for completing such diligence review. The main focus of this article is the due diligence activities and rationale of counsel to a potential purchaser of all of the stock of a selling entity. Where relevant, it incorporates the alternate considerations that might arise in the context of an asset purchase or merger structure.
Problematic Lease Provisions: The Top Three Offenders
February 28, 2015
Both landlords and tenants of commercial property must be careful in preparing and signing leases. Beyond the financial considerations of the agreement, both parties must consider how to protect themselves before, during and after the term of the lease. Although every commercial lease is unique, there are three provisions that often create the most problems for landlords and tenants: self-help repossession provisions, restrictive covenants, and repair provisions.
Problematic Lease Provisions: The Top Three Offenders
February 28, 2015
Although every commercial lease is unique, there are three provisions that often create the most problems for landlords and tenants: self-help repossession provisions, restrictive covenants, and repair provisions. This article discusses those provisions.
NY's Highest Court Grants License to Change NY's Licensing Law
February 28, 2015
A year ago, York's highest court, the Court of Appeals, appears to have redefined and narrowed the limits of what distinguishes a license from a lease by expanding the scope of what may be deemed a license. In doing so, the court adopted an approach it had never previously used in such cases.
Will That Restriction Hold Up?
February 28, 2015
Given their critical nature to both parties, use clauses, exclusives and prohibited uses are among the most heavily negotiated provisions of any retail lease. As a result, the final draft may contain a number of compromises and vagaries that are understood only by the original parties involved.
