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Dilapidations case law update: Judgement continues recent trend in favour of tenants

Mapeley Acquisition Co (3) Limited (In Receivership) v City of Edinburgh Council [2015] CSOH 29: 24 March 2015 - Introduction - This case, which was heard in the Outer House of the Court of Session by Lord Doherty,...more

Bankruptcy Beat: Single Asset Real Estate Debtor Could Not Show That Plan with Substantial Balloon Payment had a Realistic Chance...

At issue in GRG Acquisitions, LLC v. MDM Golf of Gillette Ridge, LLC (In re MDM Golf of Gillette Ridge, LLC), Case No. 14-21565 (ASD) (December 23, 2014), was whether relief from the automatic stay should be granted to a...more

Commercial Lease “Co-Tenancy” Clauses: Unconscionable, Penalty, or Enforceable?

When a court of appeal announces that it is tackling a new commercial lease issue for the first time ever in a published decision, it’s wise to pay attention....more

Pa. Supreme Court Denies Equitable Tolling of Oil and Gas Lease’s Primary Term

Last week, the Pennsylvania Supreme Court, on certification from the United States Court of Appeals for the Third Circuit, ruled that the primary term of an oil and gas lease would not be equitably tolled during the pendency...more

The Consequences of Walking Away: Breach of Contract in Commercial Real Estate

The temptation happens often: the deal is done, the ink is dry, the contract is finalized…then someone gets cold feet. Buyers don’t want to buy, sellers don’t want to sell, money gets tight, titles can’t be delivered, etc....more

Client Alert: Oil & Gas Bankruptcies on the Horizon: Beware of Statutory Liens

The recent drop in crude oil prices has been a boon to consumers and businesses alike. However, sustained lower crude prices will invariably have a negative impact on drilling activity in those states where oil and gas...more

Co-Tenancy Breaches And Remedies: What's Next For Landlords And Tenants After Grand Prospect Partners

Last month, the California Fifth Appellate Court issued a ruling concerning the enforceability of co-tenancy provisions in commercial leases. Grand Prospect Partners, L.P. v. Ross Dress for Less, Inc., et al....more

Recovering Damages Through Escrow

Most developers have been there a few times. You found a great property, it’s well priced, and perfect for your newest development; be it a flip or an income property. Originally published on Commercial Property...more

Eleventh Circuit Court of Appeals Finds Late Notice Barred Claim for Hurricane Damage as a Matter of Law and Upholds Award of...

In The Yacht Club on the Intracoastal Condo. Assoc., Inc. v. Lexington Insurance Company, 2015 U.S. App. Lexis 293 (11th Cir. Jan. 8, 2015), the Eleventh Circuit upheld a district court’s entry of summary judgment in favor of...more

Rescission: Another Remedy to Address Unintended Tax Consequences

While the equitable remedy of rectification is often sought as a means to address unintended tax consequences, rescission is also an available remedy in the appropriate cases. The British Columbia Supreme Court’s decision in...more

Nevada Supreme Court adds New Elements to Constructive Eviction Claims

Nevada, like many jurisdictions, has recognized the ability of a tenant to vacate property if it becomes unfit for occupancy for the purpose for which it was leased. This is commonly known as a “constructive eviction.” ...more

New York District Court Holds Lessee Not Liable Under CERCLA as an Owner

A New York federal district court recently held that a lessee will not be found liable under CERCLA as an owner where the lessee does not possess sufficient indicia of ownership. (Next Millennium Realty, LLC v. Adchem Corp.,...more

As the Snowfall Comes to an End, Buffalo, New York Area Businesses Should Seek To Protect Their Insurance Rights

The Buffalo, New York, area has been devastated with record-setting levels of snowfall. In just a few days, the area has received a year’s worth of snow, with more than seven feet in some places. The heavy snow has led to...more

CERCLA Cost Recovery v. Contribution Again: It’s Still Unfair

Parties in CERCLA cases continue to deal with the consequences of the Supreme Court decisions in Aviall and Atlantic Research which essentially created two classes of PRPs: (1) PRPs who entered into CERCLA settlements with...more

Insurance Alert: Insurer Delay Extends Time to Repair or Replace Damaged Property

In Stephens & Stephens XII v. Fireman's Fund Ins. (No. A135938, filed November 24, 2014), the plaintiffs obtained property insurance on a warehouse. Within a month, it was discovered to be stripped of all wiring and metal....more

Recent Changes to the Mechanics’ Law

Mechanics’ Lien - • An In Rem lien (against real property). • For the payment of all debts due by an owner to a contractor (or by a contractor to his subcontractors) for Labor or Materials furnished....more

Lease Incentive Claw Backs Found to be a Penalty

Lease incentives given by landlords to induce tenants to enter leases are a very common feature of the property landscape in Australia. These usually take the form of fit out contributions or rent abatements (or a combination...more

Policy’s “Named Storm” Deductible Applies To New Jersey Superstorm Sandy Claim

In Wakefern Food Corp. v. Lexington Insurance Company, No. MID-L-6483-13 (N.J. Super. Ct. Law Div. filed Oct. 29, 2014), the Superior Court of New Jersey held in favor of Lexington Insurance Company in connection with a $50...more

Public Projects and Business Losses – Who Gets What and When?

Most of us have been inconvenienced by road construction or other public works. Streets can be more congested, exits closed, and traffic re-routed, making it more difficult to get to the restaurants, yogurt shops, book...more

CMBS Issuer wins negligence claim against valuer in English High Court

In a judgement of major significance for the commercial mortgage backed securities (CMBS) market, the High Court has ordered a negligent valuer to pay €32 million damages to a CMBS issuer. This is the first time a...more

Bankruptcy Court Finds Tenant Cannot Assume Commercial Lease After Waiving Rights to Seek Relief From Forfeiture Under California...

The US Bankruptcy Court for the Central District of California (the "Court") recently upheld the validity of a commercial lease provision by which a debtor/tenant waived its rights to seek relief from forfeiture (i.e.,...more

B.C. Surface Rights Board Reduces Rent Payable After Landowners Fail to Prove Loss

In the recent decision of the B.C. Surface Rights Board in Encana Corporation v Perry Burl Piper and Leslie Lancelot Dowd, the Board awarded compensation to landowners less than the amount previously offered by the operator. ...more

Mechanics Lien Subordination: Illinois Further Limits Construction Lenders’ Ability To Ensure Priority Against Mechanics Liens

On July 16, 2014, Illinois enacted Public Act 98-764 (Senate Bill 3023) (“SB 3023”), which amends the Illinois Mechanics Lien Act (770 ILCS 60/ et seq.) (the “Act”) to prohibit subordination of mechanics liens on Illinois...more

Fourth Circuit: Twenty-Seven Days of Inaction Enough to Waive Right to Rescind for Violations of Protective Safeguards Clause

The marriage liturgy in the Anglican Book of Common Prayer contains the well-known line “speak now or forever hold your peace,” and the take-away from a recent Fourth Circuit decision out of North Carolina is clearly “act now...more

Lease Termination: Do You Really Mean It?

A commercial landlord sought relief from the automatic stay so that it could complete prepetition eviction proceedings against the debtor. The debtor objected, arguing that it had a right to assume the lease. The case turned...more

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