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2017 Arizona Case Law Affecting Commercial Real Estate and Lending

by Ryley Carlock & Applewhite on

The following information accompanies a presentation Mike gave to members of the Arizona Commercial Mortgage Lenders Association (ACMLA) on October 10, 2017. Arizona Case Law – Late Fees and Liquidated Damages Provisions...more

Flood Exclusion Unambiguously Excludes Coverage For $49.5M In Hurricane Sandy Losses Caused By Storm Surge

by Cozen O'Connor on

Cozen O’Connor attorneys Thomas McKay III, Richard Mackowsky, Charles Jesuit, and Melissa Brill recently secured summary judgment from the United States District Court for the Eastern District of New York in favor of Great...more

Double Whammy: In a Sweeping New Opinion, the Ninth Circuit Creates a New Mechanism for Completely Wiping Out Unexpired Leases in...

In In re Spanish Peaks Holdings II, LLC, Case No. 15-35572 (9th Cir. Sept. 12, 2017), the Ninth Circuit Court of Appeals held that a bankruptcy trustee may use Section 363(f) of the Bankruptcy Code to sell real property free...more

Ninth Circuit Reverses Course on Measure of Collateral Value in Cramdown Confirmation of Chapter 11 Plan

by Jones Day on

In First Southern Nat’l Bank v. Sunnyslope Hous. LP (In re Sunnyslope Hous. LP), 2017 BL 216965 (9th Cir. June 23, 2017), the U.S. Court of Appeals for the Ninth Circuit held en banc that, in determining whether a chapter 11...more

Eroding the Majority Rule: Another Circuit Concludes That Lease Can Be Extinguished in Free-and-Clear Bankruptcy Sale

by Jones Day on

The ability of a trustee or chapter 11 debtor-in-possession ("DIP") to sell bankruptcy estate assets "free and clear" of competing interests in the property has long been recognized as one of the most important advantages of...more

Claims and Concurrent Causation Issues in the Wake of Hurricanes Harvey and Irma

by Wilson Elser on

Hurricanes Harvey and Irma delivered one of Mother Nature’s most powerful one-two punches in U.S. history. Harvey struck first. On August 25, 2017, the storm made landfall near the Texas Gulf Coast as a Category 4 Hurricane...more

Not So Fast—Your Oil and Gas Lease Primary Term May Be Longer Than You Thought

by Blank Rome LLP on

Energy Industry Update - Action Item: Oil and gas leases in Pennsylvania may have a primary term longer than that stated in the lease. The Superior Court has recognized that an argument can be made that time for notice and...more

Nevada Supreme Court Clarifies the Litigation Waiver of the One-Action Rule

by Snell & Wilmer on

Nevada has a one-action rule which, with limited exceptions, requires a creditor seeking to recover a debt secured by real property to proceed against the security first prior to seeking recovery from the debtor personally....more

Maximizing Insurance Recoveries for Hurricane Harvey Losses

by Jones Day on

With Hurricane Harvey having pummeled much of the Texas Gulf Coast, businesses will soon look to secure insurance recoveries for the estimated billions of dollars in property damage and business income losses left in its...more

Client Alert: North Carolina Court of Appeals Issues Important Opinion on Commercial Lease Guaranties

Is a personal guaranty a separate agreement from the underlying contract it guarantees? The North Carolina Court of Appeals recently considered this issue in Friday Investments, LLC v. Bally Total Fitness of the...more

Court Affirms Submission of Mitigation Instruction In A Breach Of Fiduciary Duty Case To Affirm A Jury’s Finding Of No Damages

by Winstead PC on

In E.L. & Associates v. Pabon, a company sued two former directors and their son for breaching fiduciary duties when the company lost a lease for a restaurant it operated and the directors’ son opened a nearly identical...more

California Supreme Court Issues Critical Opinion Regarding Structure and Language of Contractual Attorneys' Fees Provisions

by Allen Matkins on

The California Supreme Court recently issued its opinion in Mountain Air Enterprises v. Sundowner Towers, addressing a simple but important question regarding attorneys' fees provisions in commercial contracts: If a contract...more

Constructing a way around the 1954 Act

by Dentons on

The High Court decision in S Franses Ltd v. Cavendish Hotel (London) Ltd [2017] EWHC 1670 will be of interest to landlords and tenants involved in lease renewal proceedings pursuant to the Landlord and Tenant Act 1954 (1954...more

Ninth Circuit Allows Leases To be Stripped in Section 363 Sale

by Ballard Spahr LLP on

Courts consistently have held that the sale of real property under the Bankruptcy Code cannot "strip off" the leasehold interests in that property. Until now, only one case held to the contrary and was generally considered an...more

In Lease Case, Maryland's Highest Court Brings State Law in Line With FOIA

by Ballard Spahr LLP on

Confidentiality is important for landlords and tenants in commercial lease transactions. For that reason, a recent Maryland Court of Appeals decision should be kept in mind when leases and other documents are submitted to...more

Recent Arizona Commercial Law Cases

by Snell & Wilmer on

Over the last few months there have been several significant commercial law cases in Arizona. These have included four Court of Appeals and three Supreme Court cases, each addressing common loan document provisions and...more

California Court of Appeal Clarifies a Judgment Creditor's Right to Third Party Discovery in Aid of Enforcement of Judgment

by Allen Matkins on

In Yolanda's, Inc. v. Kahl & Goveia Commercial Real Estate, 11 Cal. App. 5th 509 (2017), the California Court of Appeal recently affirmed a judgment creditor's right to seek third party discovery in aid of enforcement of a...more

Earth Movement: "Any" Means Any; Home-Owners Insurance Company v. Dominic F. Andriacchi (Michigan Court of Appeals)

Property policies typically include an exclusion for loss caused by or resulting from earth movement. Some insurers will provide coverage for earth movement, but that coverage will usually have a sub-limit. For years,...more

Iris House Provides Valuable Reminder to Landlords About Non-Profit Renters

Recently, the Supreme Court, Appellate Term, First Department, handed down a decision affirming the lower court in 2363 ACP Pineapple, LLC v. Iris House, Inc, 2017 NY Slip op 27047. As the attorney on this case, Michael D....more

Florida's Third District Court of Appeals provides a warning: When insureds communicate about their policy needs, agents better...

In Kendall South Medical Center v. Consolidated Insurance Nation, No. 3D16-926, 2017 WL 1908376, *1 (Fla. 3d DCA May 10, 2017), the Third District Court of Appeals reversed the lower court’s fourth dismissal of Kendall South...more

West Virginia Court Pivots Toward Industry in Recent Post-Production Deduction Case

by McGuireWoods LLP on

A recent decision by the West Virginia Supreme Court of Appeals has called into question its own precedent on the permissibility of post-production deductions and the calculation of oil and natural gas royalties, reversing...more

Major Decision by the West Virginia Supreme Court of Appeals – Non-Participating Royalty Interest Owner Rights Clarified

On May 31, 2017, the West Virginia Supreme Court of Appeals issued a significant opinion regarding the clarification of rights for non-participating royalty interest owners (“NPRI”). In the opinion Gastar Exploration, Inc. v....more

Oil and Gas Industry Update: District Court Upholds Rejection of Sabine Gas Gathering Agreements

by Jones Day on

In a highly anticipated decision—HPIP Gonzales Holdings, LLC v. Sabine Oil & Gas Corp. (In re Sabine Oil & Gas Corp.), 2017 BL 83510 (S.D.N.Y. Mar. 9, 2017)—Judge Jed S. Rakoff of the U.S. District Court for the Southern...more

Section 1111(b) Election Not Available When Collateral Is Sold Post Petition

by Dechert LLP on

The facts in Salamon are straightforward. Salamon (“Buyer”) purchased real property from Behrend (“Seller”) that was already subject to two liens (the “Preexisting Debt”). Instead of paying cash at closing, the Buyer executed...more

Attention Mortgage Loan Servicers: Highest Court in Massachusetts Attempts to Clarify When Default Notices Must Strictly Comply...

by Hinshaw & Culbertson LLP on

The Massachusetts Supreme Judicial Court (SJC) provided further guidance - up to a point - on mortgagees’ strict compliance with the notice of default provisions within paragraph 22 of the standard mortgage (or the...more

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