General Business Civil Procedure Commercial Real Estate

Read need-to-know updates, commentary, and analysis on General Business issues written by leading professionals.
News & Analysis as of

7th Circuit Disrupts Commercial Certainty in Lease Terminations; Landlords, We Hate That You Have to Read this Blog Post

There are many tenants that are, shall we say, “problem children.” They pay late, open late, breach, junk up your strip or building, threaten, the works. Sometimes, the landlord finds it easier just to reach a lease...more

Second Circuit Reverses and Remands Trial Court’s Summary Judgment Order in Favor of Morgan Stanley in a CMBS Case

On April 27, 2016, the Second Circuit Court of Appeals vacated and remanded the district court’s summary judgment order entered in favor of defendant Morgan Stanley Mortgage Capital, Inc. in the Southern District of New York....more

Taxpayer Entitled to Section 1033 Gain Exclusion Despite Holding Only a Beneficial Ownership Interest in Condemned Property

In PLR 201609003, the IRS determined that a taxpayer was entitled to exclude gain attributable to the forced transfer of the taxpayer’s ownership of public use facilities, even though the taxpayer did not hold legal title to...more

Back From the Dead: Voluntarily Terminating a Distressed Tenant’s Lease May Give Rise to an Avoidance Action in Bankruptcy Against...

A recent decision by the U.S. Court of Appeals for the Seventh Circuit should prompt landlords to give careful consideration before entering into a lease termination agreement with a distressed tenant. In In re Great...more

Corporate Trustees and Cash Managers: can historic miscalculations and underpayments be an Event of Default? The English High...

We now have the English High Court’s first judgment concerning the position of Class X Notes in a CMBS structure. The rights of the Class X Notes in the Windermere VII CMBS were considered by the Court in Hayfin Opal Luxco 3...more

Termination of a Commercial Lease May be an “Avoidable Transfer” in Bankruptcy, holds Seventh Circuit

In March 2016, the U.S. Court of Appeals for the Seventh Circuit ruled that a landlord may be liable to a debtor’s bankruptcy estate for the value of a lease the debtor terminated early, holding the termination may be an...more

Don’t Let Deposits Spoil the Deal

A recent case acted as a reminder of the risk inherent in taking a contractual deposit which is greater than the market norm. That case involved penalties for overstaying permitted parking times and re-confirmed the contract...more

X-tra X-tra read more about it! First English Court Ruling on Class X Notes in European CMBS

As outlined in our previous blog, X-tra, X-tra, Real All About It! published on Friday 8 April, Mr Justice Snowden handed down judgment of the High Court in the much anticipated Windermere VII Class X Notes dispute (Hayfin...more

Federal Court in Georgia Holds Specific Contractual Intent to Benefit Required for Tenant to Be Third-Party Beneficiary of...

J.C. Penney Props. v. Hiram LL, LLC, 2016 U.S. Dist. LEXIS 8027 (N.D. Ga. Jan. 25, 2016) - In January 2008, Hiram LL, LLC (“Hiram”) leased property to J.C. Penney Properties, Inc. (“J.C. Penney”) for the construction and...more

A Trifecta of Legal Victories for Lenders in Florida

Deutsche Bank Trust Co. v. Beauvais, Case No.: 3D14-575 (Fla 3rd DCA April 13, 2016) - Based on Beauvais, lenders should take a look at their loan documents, paying particular attention to any non-waiver and...more

Statutory Elimination of the Real Estate Broker's Fiduciary Duty

Will the California Supreme Court’s anticipated decision in Hiroshiike v. Coldwell Banker Residential Brokerage Company, significantly impact real estate agency law and the fiduciary duty of real estate agents? 25 states have...more

Appellate Court Notes

Supreme Court Advance Release Opinions: SC19408 - NPC Offices, LLC v. Kowaleski - In this case, the Supreme Court reversed the Appellate Court. The Appellate Court had agreed with the Trial Court that a driveway...more

Negative Pledge Pros and Cons

Does a Lender really get any protection from a Negative Pledge provided by a Borrower? In some situations where a Lender would like to have security for its loan but the Borrower cannot, or will not, grant a mortgage or...more

Terminating a Distressed Tenant’s Lease? Plan Now to Defend a Possible Bankruptcy Avoidance Action Later

Landlords contemplating terminating a lease with a distressed tenant in advance of a possible tenant bankruptcy will want to consider carefully a recent decision from the Seventh Circuit. The decision, In re Great Lakes Quick...more

Pennsylvania Supreme Court holds estoppel by deed applies to oil and gas leases

In the Court’s first decision on oil and gas issues since three new justices were elected, the Pennsylvania Supreme Court recently held that the doctrine of estoppel by deed applies to oil and gas leases. In Shedden v....more

Land Use Restrictions under the Spotlight

On 18 March 2016, the Competition Appeal Tribunal (CAT) published only the second case to be brought under the new fast track procedure before the CAT under the provisions of the Consumer Rights Act 2015. The fast track...more

Lease Assignments to Guarantors No Longer Valid

It is now clear that leases cannot be assigned to the tenant’s guarantor but serious issues arise out of the recent High Court case of EMI Group Limited v O&H Q1 Limited which specified that any lease assignment by a tenant...more

Seventh Circuit Holds that Pre-Bankruptcy Lease Terminations May Be Avoidable

In a case of first impression, the Seventh Circuit recently issued an opinion that may cause landlords and their advisors to re-evaluate the consequences of terminating a financially distressed commercial tenant’s lease prior...more

A-1 Self-Storage Unit Protection Plan: California Court of Appeal Defers to Agency Interpretation of the Insurance Code

The California Court of Appeal recently affirmed a ruling that an optional protection plan in a storage rental contract to transfer the risk of property damage or loss from the renter to the rental company did not transform...more

Seventh Circuit Holds That Termination of a Commercial Lease Prior to Tenant’s Bankruptcy May be an “Avoidable Transfer”

On March 11, 2016, the US Court of Appeals for the Seventh Circuit (the “Court”) ruled that a termination of lease that occurred prior to the tenant’s bankruptcy may be an “avoidable transfer” under title 11 of the United...more

Selling Property “As Is” Won’t Protect Seller From Superfund Liability

Everyone is familiar with the two little words - “as is” - that pop up in real estate contracts. The “as is” clause is a means of allocating risk between seller and buyer. Generally, a seller who sells property “as is” will...more

Georgia Supreme Court Answers “Yes”—A Guarantor May Waive Foreclosure Confirmation

In a decision issued on February 22, 2016, the Supreme Court of Georgia ruled that a guarantor can waive by contract the requirement for a lender to obtain confirmation of a foreclosure sale before pursuing the guarantor for...more

Court Holds that Disgorgement Award for Breach of Fiduciary Duty Was Neither Punitive Nor Excessive and that Exemplary Damages...

A court of appeals recently issued an opinion rejecting a fiduciary’s claims regarding the excessiveness of the trial court’s judgment that awarded disgorgement and exemplary damages. In Swinnea v. ERI Consulting Engineers,...more

How Sports Authority’s Bankruptcy Filing Impacts Landlords and Trade Creditors, and Creates Opportunities for Retailers

On March 2, 2016, Sports Authority, Inc. (“Sports Authority”) and six of its affiliates filed for Chapter 11 bankruptcy in Delaware. The filing will significantly impact Sports Authority’s landlords and trade creditors. In...more

Illinois Supreme Court Expands Who Can Seek TILA Rescission

A recent Illinois Supreme Court opinion may expose banks to a flood of TILA rescission claims by anyone who claims an ownership interest in mortgaged property. The state supreme court ruled that the right to rescind includes...more

325 Results
|
View per page
Page: of 13

Follow General Business Updates on:

JD Supra Readers' Choice 2016 Awards

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:

Sign up to create your digest using LinkedIn*

*By using the service, you signify your acceptance of JD Supra's Privacy Policy.

Already signed up? Log in here

*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.
×