New York Law Journal | Analysis
By Barbara M. Goodstein and Adam C. Wolk | April 3, 2024
'North Star' underscores the important distinction between nonexclusive and exclusive license agreements when foreclosing on a licensed asset. A licensee seeking to acquire use rights in trademarks encumbered by a perfected security interest should weigh the benefits under Section 9-321 of a nonexclusive license against possible commercial advantages of an exclusive license.
By Brian Lee | February 28, 2024
The settlement requires Tromberg, Morris & Poulin to pay $595,600 in restitution to more than 4,000 New Yorkers, and $60,000 in penalties to New York State.
New York Law Journal | Analysis
By Corinne Ball | February 21, 2024
This article addresses how a Creditor's Committee may sue members of an LLC, despite Delaware law limitations, and how prebankruptcy exercise of proxy rights in reliance on Delaware law are upheld in a subsequent bankruptcy case.
By Jennifer Pastarnack, Johanna Colpritt and Ida Vanto | January 29, 2024
A recent development with credit agreements is that they contain new provisions that expressly preclude "distressed investors" from holding the loans. This article aims to alert readers of the contractual language changes in these agreements and the implications of those changes.
By Scott A. Weinberg and Joel C. Haims | January 17, 2024
Scott Weinberg and Joel Haims discuss New York's "Election of Remedies" statute, examining whether it really has a material impact in practice.
By Howard W. Kingsley | January 16, 2024
Howard Kingsley, who represented Broom Lender in "Broome Lender LLC v. Empire Broome LLC," discusses the case and how the Appellate Division, First Department removed common obstacles and cleared the path for assignees of mortgage loans to foreclose easily and quickly. Kingsley offers that the case is a "major win for lenders and their assignees because there had not been a prior decision by a New York state court where it found that, although standing was not established through an allonge, standing was established on summary judgment by the assignment of the note."
By Brian Lee | January 2, 2024
In her State of the State message, Gov. Kathy Hochul urged lawmakers to empower the attorney general's office and financial regulators to crack down on abusive business practices.
New York Law Journal | Analysis
By Barbara M. Goodstein and John M. Conlon | December 6, 2023
Judgment creditors frequently encounter difficulties enforcing their judgments against debtors, particularly those in distressed circumstances. A recent decision by the Court of Appeals of Ohio in 'Wulco v. The O'Gara Group & Monroe Capital Partners Fund' involved a battle between a judgment creditor and a UCC secured creditor, each seeking to obtain funds in a debtor's bank account. The court examined not only the relative rights of the creditors as to those funds, but also whether a court clerk to whom the funds were transferred (as part of garnishment proceedings) could be a "transferee" under Section 9-332 of the Uniform Commercial Code, thereby stripping away any prior security interest.
By Scott Mollen | December 5, 2023
Scott Mollen discusses "Bank of N.Y. Mellon v. DeMatteis," where the court held that the bankruptcy stay pursuant to Section 362(a)(1) (§362) "tolls the [statute of limitations] for commencing a mortgage foreclosure action against the defendant debtor, regardless of whether that defendant owns the property at the time of the bankruptcy filing," and "Knowles v. 21st Mtge. Corp.," a landlord-tenant case where the court held that the tenant's failure to pay bills did not constitute abandonment of property.
By Dan Roe | October 25, 2023
Big Law bankruptcy practices are closing in on their best year since 2020.
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