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Breach of Contract › Contract Terms › Default

Shipman & Goodwin LLP

A Borrower Defaulted: Now What? Your Critical First Steps

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When a borrower defaults under a loan agreement, you face a dual challenge: time pressure demands swift action, while legal complexities require precision. Whether confronting missed payments, breached financial covenants, or...more

Holland & Knight LLP

Surrender Condition: Your Lease May Lack a Key Automatic Default Provision

Holland & Knight LLP on

For commercial landlords, ensuring that tenants return the leased premises in the agreed-upon condition is crucial to protecting their property and income. One effective way to enforce this is by making a tenant's failure to...more

Stark & Stark

Commercial Foreclosures in Pennsylvania: How Deal Formation Impacts Litigation

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The fact that commercial transactions can very easily become complex is not a novel statement. When financial institutions lend money to commercial entities, the basic documentation required to evidence the loan, promise to...more

Cadwalader, Wickersham & Taft LLP

Further Developments in Mezzanine Foreclosures

Cadwalader, Wickersham & Taft LLP on

The New York State Supreme Court, New York County Commercial Division (the “Court”) decided in U.S. Bank, N.A. v. 342 Property LLC, on February 14, 2022, that a mezzanine lender that is not a party to loan documents that...more

Farrell Fritz, P.C.

Oral Modifications to Written Agreements? Better Get Them in Writing Says the Commercial Division

Farrell Fritz, P.C. on

In Castle Restoration & Constr., Inc. v Castle Restoration, LLC, Suffolk County Commercial Division Justice Elizabeth H. Emerson refused to enforce an oral agreement that allegedly modified a prior written agreement between...more

A&O Shearman

The ABCs of default

A&O Shearman on

In ABC v Network Rail, the Court of Appeal confirmed that “default” simply means a failure to comply with contractual obligations where the context does not call for an alternative construction....more

Barnea Jaffa Lande & Co.

COVID-19 does not justify breach or deviation of a contract When Its Arrival in Israel Was Foreseeable

Barnea Jaffa Lande & Co. on

An Israeli court recently rendered an interesting ruling on the impact of COVID-19. The case is question involved the lease agreement for the operation of a hotel. The lease agreement, executed in February 2020, provided...more

BCLP

Securities and Corporate Governance Update – October 2019

BCLP on

This newsletter discusses noteworthy updates, key regulatory decisions and upcoming compliance reminders. In this edition, we review: ...SEC Changes Approach to Shareholder Proposal No-Action Requests ...SEC Issues...more

White & Case LLP

Sanctioned default? The English High Court considers the effect of foreign illegality on English obligations

White & Case LLP on

As sanctions ramp up globally, it is increasingly important for commercial parties engaged in cross border transactions to have certainty (i) as promisees (e.g. lenders) as to when their counterparties may legitimately avoid...more

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