A federal Appeals Court has held that an offer to extend a franchisee’s buyback period lacked consideration required to form an enforceable contract and, instead, was an unenforceable gratuitous promise by the franchisor....more
In this three-part series, we identified three distinct seasons in the lifecycle of an eponymous brand: (1) Choosing the Brand, (2) Commercializing the Brand, and (3) Legacy of the Brand. In Part 1, we discussed what is at...more
Bank of America took a big hit when it reached a record-breaking $16.65 billion mortgage settlement with the United States Department of Justice in August. The company is likely to attempt to recoup as much of the penalty as...more
We previously posted about ACE Securities Corp. v. DB Structured Products, Inc., 977 N.Y.S.2d 229, 231 (N.Y.A.D. 1st Dept. Dec. 19, 2013), which is a critical ruling out of New York’s intermediate state appellate court. In...more
$968 Million Settlement - During the aftermath of the financial crisis, Fannie Mae and Freddie Mac have been aggressively demanding that Wall Street and big bank aggregators repurchase millions of defaulted and...more
While recovery is well underway, some commercial real estate industry players are still feeling the recession’s after-shocks through litigation in the courtroom. A recent representative high-profile case is Lennar...more
There was a very favorable development recently in one of my buyback cases. The federal district court in Miami issued a final order that has great potential application to other buyback suits, whether already pending or...more