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Ervin Cohen & Jessup LLP

The Exception to the Barton Doctrine Contained in 28 U.S.C. §959(a) Does Not Apply to State Court Receivers

Ervin Cohen & Jessup LLP on

Q: I am a state court receiver for an LLC that owns a number of apartment buildings, which I am now managing. I have been sued by some tenants and a tenant group. They have not obtained receivership court permission to sue...more

Downey Brand LLP

California Trusts Cannot Hold Title to Real Estate

Downey Brand LLP on

A common misperception of trusts is that they are legal entities that, like corporations, can hold title to real estate and other property. A new California appellate decision, Boshernitsan v. Bach (2021) ___ Cal.App.5th ___,...more

Blake, Cassels & Graydon LLP

Court Confirms Autonomy of Letters of Credit, Rules Landlord May Draw for Full Claim Amount

Blake, Cassels & Graydon LLP on

In a recent decision, the Ontario Court of Appeal (Ontario Appeal Court) reversed a lower court decision, which had created much concern among commercial landlords that routinely rely on letters of credit (LCs) to secure...more

Jones Day

Eroding the Majority Rule: Another Circuit Concludes That Lease Can Be Extinguished in Free-and-Clear Bankruptcy Sale

Jones Day on

The ability of a trustee or chapter 11 debtor-in-possession ("DIP") to sell bankruptcy estate assets "free and clear" of competing interests in the property has long been recognized as one of the most important advantages of...more

Burr & Forman

Who Will Think of the Tenants: Split in Authority Regarding the Interplay Between Bankruptcy Code Sections 363(f) and 365(h)(1)(A)

Burr & Forman on

A useful tool granted to trustees (and debtors-in-possession) in bankruptcy is the ability to assume or reject leases.1 The trustee can exploit this power to the estate's economic advantage, either assuming or rejecting the...more

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