Right of FIrst Refusal

News & Analysis as of

Property Owners, Beware of Rights of First Refusal

A right of first refusal is a contractual right granted by an owner of real property. The owner gives the holder of the right an opportunity to match an offer to purchase property before the owner may sell to a third party. ...more

Commercial Restructuring & Bankruptcy Alert - October 2014

In this issue: - Judge Says That Stockton, California Can Cut Pension Obligations - Third-Party Releases – Better Make Sure They Are Adequately Disclosed - Lawyers Who Sign Proofs of Claims for Clients...more

FERC Reverses Course on State Laws in Transmission Planning

The Federal Energy Regulatory Commission (the “Commission” or “FERC”) granted partial rehearing in three separate orders last week involving Order No. 1000 compliance filings. Most notably, the Commission reversed course on a...more

FERC Grants Rehearing on State Law Issues in Order No. 1000 Filings

In a trio of orders, FERC softened its approach to considering the effects of state law rights of first refusal in Order No. 1000 regional transmission planning, suggesting a move toward deference to state legal limitations...more

FERC Defers to Exclusionary State and Local Laws in Transmission Planning

In three separate rehearing orders issued last Thursday, May 15, 2014, the Federal Energy Regulatory Commission reversed course on its decision in Order No. 1000 to prohibit references in transmission tariffs to state laws...more

Keeping Ownership in the Family

As a family enterprise, your business runs best if it is owned and managed by the family. So it is in everyone’s interest to make sure no family member can transfer ownership outside of the family. To do this (and do it...more

Right of First Refusal Act in Prince George's County, Md., Impacts Multifamily Rental Properties

Prince George's County Council recently passed CB-27-2013 (Conversion of Rental Housing), to regulate the sale of multifamily rental housing under certain circumstances to protect quality low- and moderate-income affordable...more

Right of First Refusal for Sale of Multifamily Housing Projects

Prince George's County has enacted legislation that grants a right of first refusal to the Department of Housing and Community Development (DHCD) prior to the sale of a multifamily rental facility. The bill was signed by the...more

Tender Of Inflated Price Under Right Of First Refusal Does, And Doesn’t, Confer Standing

In a short ruling, U.S. District Court Judge Jeffrey S. White recently tackled a claim by a former employer that its departed employee had committed securities fraud when he allegedly failed to disclose that the price offered...more

Planning for Tenant's Changing Needs: Options To Renew, Expand, Cancel, or Reduce

As a tenant's business changes, its needs and space requirements also change. If possible, a commercial tenant should anticipate the possibility of changing needs by negotiating certain beneficial options and rights into the...more

Prince George's County, Maryland, Considers Right of First Refusal for Multifamily Rental Property Sales

The Prince George's County Council is considering legislation that would require sellers of multifamily rental facilities with 20 or more dwelling units to provide the County Department of Housing and Community Development...more

The Right of First Refusal as it Applies to the Society’s Most Valued Commodity…Children

In the business world, the Right of First Refusal is a contractual right that gives its holder the option to enter into a business transaction with the owner of something, before the owner may enter into that transaction with...more

The Limited Liability Company and Bankruptcy Code

This K&L Gates Legal Insight highlights certain potential bankruptcy and insolvency issues that clients and legal practitioners should take into account when forming a limited liability company (“LLC”) under state law. These...more

FINRA Releases Public Offering FAQs

FINRA, the largest independent regulator for all securities firms doing business in the United States, has released a set of FAQs relating to its review of public securities offerings filed on its Public Offering Filing...more

FINRA Releases FAQs on its Public Offering Review Process

FINRA recently released a set of frequently asked questions (“FAQs”) relating to its public offering process and the Corporate Financing Rule (Rule 5110). The guidance provided in the FAQs is summarized...more

FINRA Releases FAQs On Public Offering Review

FINRA has released a set of FAQs relating to its review of public offerings filed with FINRA’s Public Offering System, which replaced COBRADesk as FINRA’s online filing system in June of 2012....more

Moving Day: Oakley’s Lawsuit Against McIlroy Highlights Challenges of Rights of First Refusal

Originally published in Sports Litigation Alert, Volume 10, Issue 1, on January 25, 2013. At the start of 2011, the sunglasses maker Oakley signed a two-year endorsement deal with Rory McIlroy. The agreement paid McIlroy...more

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