Make Whole Provisions Triggered Upon Acceleration of Debt In Bankruptcy Are Enforceable Absent Clear Contractual Language to the Contrary.

Posted: June 30, 2017

In Delaware Trust Co. v. Energy Future Intermediate Holding Co., 842 F.3d 247 (3d Cir. 2016),the Third Circuit stated that (i) New York and federal courts deem the term “redemption” to include both pre- and post-maturity repayments of debt, (ii) refinancings of debt by Energy Futures Intermediate Holding Co. (“EFIH”) with debtor-in-possession financing were optional…

Enforceability of Tail Fee Provision in Engagement Letter (Underwriting and Corporate Securities)

Posted: April 24, 2017

In a recent breach of contract action involving the failure to pay an investment banking tail fee, the New York Supreme Court Appellate Division unanimously affirmed the order of the lower court granting a motion for summary judgment in favor of StormHarbour Securities LP (“StormHarbour”) against IIG Trade Opportunities Fund N.V. (the “Fund”) requiring the…

Grant of Interest in Real Property by Non-Surviving Entity in Merger Held Void (Mergers, Acquisitions, Secured Transactions and Real Estate)

Posted: February 23, 2017

In a motion brought in a mortgage foreclosure action by Plaintiff JPMorgan Chase Bank, N.A for an order dismissing an affirmative defense and the counterclaim of Defendant Bank of New York, the Supreme Court of Rockland County, New York in a recent unreported opinion… Read the full article here

Structuring Real Estate Development Agreement

Posted: April 30, 2015

On April 30, 2015, Reginald A. Long, partner of Love and Long, LLP, co-presented the Stafford CLE “Structuring Real Estate Development Agreements with Municipalities (Leveraging Agreements for Long-Term Development Projects and Addressing Land Use and Infrastructure Issues). For more information relating to the CLE, please follow link to program outline.   Read the full article…

Tips For Utilizing UCC

Posted: February 26, 2015

This publication covers the basic UCC principles of obtaining a security interest in collateral, attachment and perfection. It also reviews establishing and maintaining a secured party’s priority in common forms of collateral and some special forms of collateral. In addition, the publication covers the impact of bankruptcy on secured transactions and recent case law developments…

Legal Ethics in Commercial Real Estate

Posted: November 25, 2013

Legal Ethics in Commercial Real Estate By Reginald A. Long, Esq. and Lisa D. Love, Esq. The role of the real estate attorney continues to change. These days, the commercial real estate attorney is often called upon to serve in dual roles as the transaction attorney and as a business consultant to the client given…

Ins and Outs of Private Road Creation and Use

Posted: May 8, 2013

Easements in general An easement is an interest or a right in land which benefits a tract of land or tenement, without regard as to who owns or possesses it. For example, in Leasehold Estates, Inc. v. Fulboro Holding Company et al., 47 N.J. Super. 534; 136 A.2d 423 the court defined an easement as:…

Curing Title Defects

Posted: May 8, 2013

Curing defects in the chain of title begins with the examination of the title report. Specifically, “Schedule B” of the title report list the exceptions to title. It should be noted that title exceptions exist in practically every parcel of land within the State of New Jersey. Accordingly, the issue becomes identifying which exceptions are…

Current Issues in Zoning

Posted: March 15, 2013

Fundamental Zoning and Land Use Actions Historical Perspective In New Jersey, the authority of the State to enact land use laws, including zoning, is derived directly from Article III of the New Jersey Constitution, which grants the State Legislature the power to regulate the uses of land within the State. Additionally, Article IV §6¶2 of the…

Federally Supported Small Business Financing Sources

Posted: February 7, 2012

by Elizabeth Stewart, Esq. If you are in search of financing to expand or start a small business, one excellent source is your local bank, where you should inquire about the State Small Business Credit Initiative, the Small Business Lending Fund and the Small Business Administration loan guarantee programs. Your local bank may be a…