In our previous article, we described the due diligence process, including what a buyer would look for in your practice. Once due diligence is under way, the next step is the purchase agreement, which is usually prepared by...more
Real estate developers and owners typically need to close their finance transactions as quickly as possible. Nonetheless, the closing frequently slips a few weeks from the target date. Actively managing the pacing items for...more
Post-acquisition Mergers & Acquisitions (“M&A”) disputes are often caused by the timing of a transaction closing and the subsequent true-up of the estimated closing date balance sheet. However, with adequate planning and...more
The Delaware Supreme Court opinion in AB Stable VIII LLC v. MAPS Hotels and Resorts One, LLC, et al., No. 71, 2021, (Del. Dec. 8, 2021), considers whether a business’s response to the COVID-19 pandemic violated an “ordinary...more
Although the COVID-19 pandemic is requiring changes in standard practices, many commercial real estate transactions are continuing to close—albeit with various logistical adjustments. To help keep closings on track, we...more
The US Securities and Exchange Commission (“SEC”) recently announced that it will not take final action before April 24, 2020, regarding the following five proposed actions, which have comment periods expiring in March, to...more
As everyone adjusts to the various governmental containment strategies and business continuity procedures adopted in response to the COVID-19 pandemic, parties working on business transactions or loan closings will need to...more
The recent decision of the Bankruptcy Court for the Southern District of New York in In re AAGS Holdings LLC, Case No. 19-13029 (SMB) (Bankr. D. Del. Nov. 12, 2019), underscores the ability of debtors — and specifically, for...more
There’s no doubt about it, the U.S. real estate market is strong. With low interest rates and low unemployment rates, it is not surprising that the National Association of Realtors included parts of Florida among the top 10...more
Join Williams Mullen Partners Jon Bliley and Hal Johnson as they discuss the issues that may arise should you face a transaction with a delayed closing where a rep and warranty policy is the buyer’s sole source of...more
Please find below a memo issued last week by HUD’s Office of Recapitalization regarding the delayed submission of draft closing packages for RAD conversions. ...more
In Chicago Bridge & Iron Company N.V. v. Westinghouse Electric Company LLC, C.A. No. 12585-VCL (Del. Ch. Dec. 5, 2016), the Court of Chancery granted a buyer’s motion for judgment on the pleadings, holding that the plain...more
We strongly urge our clients to consider closing dates, lien lapses, and other filings or deadlines. The Delaware Secretary of State has advised that as a result of a major computer system transition at the Division of...more
Mortgage lenders are all too familiar with borrowers’ assertions that they did not receive two properly dated copies of the Truth-In-Lending Act (“TILA”) mandated Notice of Right to Cancel form (“NORTC”) at closing. Under...more
The Third Circuit has now joined the Fourth Circuit in ruling that a lawsuit seeking rescission filed more than there years after loan consummation is timely as long as the borrower sent a written notice of rescission within...more