Williams Mullen's Comeback Plan: Part IV - How Banks Think About Loan Defaults: Lessons for Borrowers in Troubled Times
COVID-19 Comeback Plan: Part III - How Banks Think About Loan Defaults: Lessons for Borrowers in Troubled Times
Williams Mullen's Comeback Plan: Part II - How Banks Think About Loan Defaults: Lessons for Borrowers in Troubled Times
Williams Mullen's COVID-19 Comeback Plan: Part I - How Banks Think About Loan Defaults: Lessons for Borrowers in Troubled Times
Episode 3: Professor Peter Molk Interview on Drafting Around LLC Default Rules
Connecticut Collections: How to get paid if you are owed money? Part 1: Pre and Post-Judgement Collection Specifics
Weekly Brief: DOJ Memo Details Justification For Killing US Citizens
Bill on Bankruptcy: Delaware to Continue Dominating Bankruptcy
This resolution is important for contractors’ rights to retention monies in construction contracts. The Hong Kong Court of First Instance (CFI) held in a recent judgment that, whilst the absence of segregation is not...more
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
In the real estate field, surprises are less welcome. Owners expect tenants to pay their rent and follow lease requirements, and tenants expect owners to maintain rental units and common areas and to provide the agreed...more
On September 13, 2023, the Superior Court of Pennsylvania held that an arbitration clause in a home improvement contract was invalid because it failed to comply with the requirements of the Pennsylvania Home Improvement...more
On September 25, 2023, the Massachusetts Supreme Judicial Court issued an important decision that affects commercial landlords’ ability to accelerate rent as liquidated damages after a Lessee’s default in Cummings Properties,...more
An express absolute discretion has been held to be just that. It was not restricted by any implied duty to act in good faith or Braganza-style duty....more
On December 5, the Massachusetts Appeals Court issued an important decision impacting commercial landlords’ ability to accelerate rent as liquidated damages after a Lessee’s default in Cummings Properties, LLC vs. Darryl C....more
This article discusses termination provisions parties should consider when they enter into a contract, the contract termination process, and when parties should consider post-termination obligations....more
The world economy is experiencing the perfect storm of inflation, interest rate increases, supply chain disruption, and a potential global recession. These conditions exert pressure on trading partners who may have nowhere to...more
New York’s default rules regarding LLC members’ rights to transfer their interests appear in sections 603 and 604 of the LLC Law. Section 603 provides that a membership interest is fully assignable, but the assignee does not...more
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
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
In March, when much of the country was first experiencing the effects of the COVID‐19 pandemic, it was commonly believed that things would return to normal soon. Nearly nine months later, most of us have come to realize that...more
Several weeks back, we reported on an apparent uptick in commercial lease disputes over the last 18 months in this new COVID era. It only follows that there would be a corresponding uptick in Yellowstone applications from...more
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
G Challenges to Arbitration Award- Hughes v. Hughes, 10th Dist. Franklin No. 19AP-865, 2020-Ohio-5026- In this appeal, the Tenth Appellate District affirmed the trial court’s decision and confirmed an arbitration award... ...more
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
In a prior practice pointer, we discussed the importance of reservation of rights letters. However, there are times when a lender will want to start enforcing one or more rights or remedies....more
Advance payment guarantees are commonly used in the construction industry. However, successful challenges to a demand made under an advance payment guarantee appear to be less common. This article looks at three recent cases...more
On May 22, 2020, Judge Paul G. Gardephe of the U.S. District Court for the Southern District of New York granted a motion to dismiss in Kirschner v. JPMorgan Chase Bank, N.A., finding, inter alia, that the syndicated loans at...more
On May 14, 2020, in James G. Davis Constr. Corp. v. FTJ, Inc., the Virginia Supreme Court upheld a judgment on an unjust enrichment claim in favor of FTJ, a drywall supplier on a condominium project, against Davis, the...more
Contractual rights agreed in the past may look very different today and may not be enforceable tomorrow, but (strangely) could be in the future. Such are the historic times we are living through. ...more
Many commercial tenants failed to pay April rent. Landlords may be thinking about applying security deposits or drawing down on letters of credit to cover tenants’ defaults....more
Although Material Adverse Change (“MAC”) clauses are quite prevalent in loan and financing documents, there is very little case law in Maryland dealing with the successful or unsuccessful enforcement of these clauses. With...more
On 11 March 2020, the Bank of England (the “Bank”) warned of “an economic shock that could prove sharp and large” resulting from the coronavirus outbreak that started in Wuhan, China, at the end of 2019. Presenting a package...more