General Business Commercial Real Estate

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Secured Creditors Beware: Overvalued Properties in Bankruptcy

An overvalued property may now have a bigger impact on a secured creditor’s bottom-line during bankruptcy. Splitting with the Seventh Circuit, the Fifth Circuit in Southwest Securities, FSB v. Segner (In the Matter of...more

Property Insurance Claims? Insurance Attorney Offers Simple Yet Vital Guidelines

Suffering a loss to personal or business property can be a stressful situation. To make things worse, the process of reporting, submitting, and presenting your insurance claim can be complex. This article shares a few...more

Maryland Environmental Reporting Regulations On Hold For Now

Property owners and developers in Maryland have dodged another bullet, at least for now, with respect to their environmental reporting obligations. On October 31, 2014, the Maryland Department of Environment (“MDE”) proposed...more

Withholding Tax Set to Increase

The Foreign Investment in Real Property Tax Act (FIRPTA) subjects foreign sellers to U.S. tax when they sell their interest in real property located in the U.S., including interests in companies that predominately hold real...more

Insurance Recovery Group News: Was it Vandalism or Was it Theft?

Was it vandalism or was it theft? According to Connecticut District Court Judge Jeffrey Meyer, that was the $2 million question in Mercedes Zee Corp., LLC v. Seneca Ins. Co., 2015 WL 9311343 (D. Conn. Dec. 22, 2015). ...more

The Double-Fraction Dilemma: Intent-Focused Inquiry Prevails

As the oil and gas industry has moved away from the legacy of the 1/8th royalty, double-fraction language has generated a multitude of disagreements as to whether a royalty interest should be construed as "fixed" or...more

REAL NEWS – WINTER EDITION 2015/16

IN THIS EDITION - Ben Barrison reports on the long awaited Supreme Court’s decision in the case of Marks & Spencer plc v BNP Paribas Securities Services Trust Company (Jersey) Limited (pg 03); We dedicate two...more

CREFC and MBA/CREF: A Hitchhiker’s Guide to Alternate Universes

That whole alternate universe thing, the conceit of so many sci-fi novels, is clearly not merely the product of fevered minds. It’s real. Or, at least it seemed awfully real after having been at the CREFC meeting in Miami...more

Food Report 2016: Trends in the Food, Beverage and Agribusiness Sector

Since the early part of this century, the fast-paced development of Alberta’s oil sands and the push for more pipelines across the country have driven Canada’s economic fortunes. Indeed, the Toronto Stock Exchange is one of...more

Red Notice Newsletter - January 2016

ANTICORRUPTION DEVELOPMENTS - Convicted Printing Company Ordered to Pay £2.2 Million - On January 8, 2016, the Serious Fraud Office (SFO) announced that Smith & Ouzman Ltd, a U.K. security printing company, was...more

Texas Federal Court Rejects Insured’s Attempt To Destroy Diversity By Naming Adjuster As Defendant

The insured in Patel v. Acceptance Indem. Ins. Co., No. 4:15-CV-944-A, 2016 U.S. Dist. LEXIS 10300 (N.D. Tex. Jan. 28, 2016), alleged that Acceptance Indemnity Insurance Company and its adjuster, Charles Payne, did not fully...more

Bankruptcy & Creditors' Rights News: Secured Lender Forced, under Bankruptcy Code Section 506(c), to Pay Trustee's Expenses of...

For secured lenders, the single most dangerous provision of the U.S. Bankruptcy Code is section 506(c). This section permits the bankruptcy court to collect from the lender’s collateral the bankruptcy estate’s necessary...more

First Wall of Tanger Outlets Goes Up in Daytona Beach, Bringing 800 Retail Jobs and 90 Brand Name Stores

First Wall of Tanger Outlets Goes Up in Daytona Beach, Bringing 800 Retail Jobs and 90 Brand Name Stores - Hundreds of people gathered to watch the raising of the first Tanger Outlets wall in Daytona Beach during the sound...more

Ohio Supreme Court: Form Oil and Gas Lease Not Void as Against Public Policy

Earlier this week, in an unsurprising but nevertheless meaningful decision, the Ohio Supreme Court unanimously ruled that the standard form oil and gas lease at issue was not “perpetual,” and thus was not void as against...more

AIG Bows Out of the Pollution Legal Liability Market

On January 26, 2016, insurance giant AIG announced a major restructuring designed to make it a “more profitable and focused insurer.” Apparently as a result of these efforts to streamline and slim down, AIG has begun...more

Application Deadline for the CITF Grant and Loan Program – February 26, 2016

The deadline to submit applications for Community Infrastructure and Tourism Fund (CITF) grants and loans is February 26, 2016. There is an estimated $6,600,000 available in grants and loans for approved applicants. The...more

FinCEN Imposes New Reporting Requirements on New York and Miami Real Estate Markets

The Financial Crimes Enforcement Network (FinCEN) recently announced two geographic targeting orders (GTOs) imposing new reporting and recordkeeping requirements on title insurance companies operating in New York City and...more

Contractors can be Liable for Following Owners’ Directives

In Downey v. Chutehall Construction Co. (Lawyers Weekly No. 11-001-16), the Massachusetts Appeals Court ruled a contractor can be liable for violating building codes despite the fact that the party suing it directed the...more

Are You My Brokers? The Evolving Legal Status of the Real Estate Salesperson

Under the Real Estate Law that governs the regulation of brokers and salespersons by the Bureau of Real Estate, a salesperson is theoretically subject to supervision and control at all times by the broker that employs the...more

Dilapidations: The landlord strikes back

A trilogy of cases over recent years have established that tenants will only have to pay dilapidations if the landlord can satisfy them, or alternatively the court, that it intends to carry out the necessary repairs. However,...more

Supreme Court of Pennsylvania Holds Lease Exception of Local Tax Enabling Act Does Not Prevent Business Privilege Tax from...

On December 21, 2015, the Supreme Court of Pennsylvania held that the exception in 53 P.S. §6924.301.1(f)(1) of the Local Tax Enabling Act (LTEA), which prohibits the taxation of leases and lease transactions, does not...more

West Coast Real Estate Update: Jan. 2016 #3

Reporting Leases on the Balance Sheet - The International Accounting Standards Board (IASB) announced on Jan. 13, 2016, a new ­– and materially different – manner of accounting for leases. The new standard, IFRS 16...more

As Winter Storm Jonas Bears Down, Businesses Should Seek To Protect Their Insurance Rights

While this year’s winter has been relatively mild for the East Coast, Winter Storm Jonas is expected to produce prolific amounts of snow in parts of the East, rivaling infamous snowstorms of the recent past. While the...more

Insurance Coverage Issues for Hotel and Apartment High-Rises Damaged by Fire

Just before fireworks exploded across the sky to usher in 2016, a massive fire engulfed the Address Downtown Hotel in Dubai. At nearly 1,000 feet tall, this five-star hotel and luxury apartment building —with about 200 hotel...more

The Thin Line Between Land Litigation and Land Use Controversies

Frequently, land litigation—land boundary and ownership claims - is a controversy concerning the use of land. The recent case of Hedgepeth v. Parker’s Landing Property Owners Association, Inc. ___ N.C. App. ___ ___ S.E.2d...more

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