Art backed loans are growing in popularity as art collectors seek to unlock the value of their collections. For investors who desire to diversify their debt portfolios into this expanding market but lack the expertise in fine art necessary to evaluate the proposed collateral, certain specialty lenders offer the opportunity to purchase participations in the art backed loans they make to collectors. This article discusses the nature of art backed loans and participations and raises five considerations to be undertaken when evaluating a participation in an art backed loan.
As we head into summer, we would like to share with you some of our most popular legal alerts from the first half of 2019. Our top-read alerts range from construction, labor and employment, tax, corporate and securities, immigration, cooperatives and condominiums, commercial leasing, real estate, litigation and intellectual property, reflecting the broad array of our full-service practice. We hope that our alerts have been valuable to you and your colleagues, and demonstrate our commitment to providing helpful information to you.
For approximately 50 years, commercial tenants in New York facing potential action for breach of lease and possible eviction have enjoyed the use of a so-called "Yellowstone injunction," which, if granted by the court, froze the contractual cure period under a lease governed by New York law.
With New York’s recent enactment of the Child Victims Act, the legal landscape surrounding claims of sexual abuse in the civil and criminal contexts has been substantially changed. Given the broad and sweeping impact of the Child Victims Act, it is critically important that public and private institutions familiarize themselves with the law and understand the new rules. In this alert, we explore a few of the major aspects of the Child Victims Act and highlight several of the actions that institutions should take to limit potential liability.
As we start a new year, we would like to share with you some of our most popular legal alerts from 2018. Our top-read alerts range from construction, corporate and securities, labor and employment, tax and intellectual property, reflecting the broad array of our full-service practice. We hope that our alerts have been valuable to you and your colleagues, and demonstrate our commitment to providing helpful information to you.
Litigation associate Brittany Lazzaro authored an article for Best Lawyers Business, the Global Issue. The article, "Unlocking the Supply Chain,” discusses how new supply-chain transparency rules, regulations, and/or guidelines are forcing companies to take a hard look at forced labor worldwide.
A charge of insider trading can have serious criminal and civil consequences for the accused. In fact, frequently, the accused will face parallel investigations by both the U.S. Attorney’s Office and the U.S. Securities and Exchange Commission. In addition, local state authorities are increasingly pursuing securities fraud prosecutions, including insider trading cases. A knowledgeable defense attorney can make a difference in an insider trading case. This article will review both the legal aspects of an insider trading case as well as the techniques investigators use to uncover and investigate insider trading.
Litigation partner Rich Schoenstein authored an article for the New York Law Journal’s special Litigation report titled, "The Workforce Mobility Act: The Wrong Solution For Non-Compete Litigation.”
Labor & Employment Chair Laurent Drogin published an article for the Association of Corporate Counsel’s (ACC) New York City fall newsletter titled, “Unsettling Developments in the Settlement of Wage & Hour Litigations.” In the article, Laurent notes that in recent years, corporate counsel have been dealing with a massive increase in wage and hour issues, often in the form of a lawsuit, a Department of Labor investigation or an in-house compliance audit. He notes that the vast majority of lawsuits settle before trial, and from a company’s perspective, early resolution limits legal expenses, business distraction and, of course, liability.
The Internet allows businesses from around the world to tap into New York’s marketplace, with relatively few upfront costs. A recent federal appeals court decision, Chloé v. Queen Beeof Beverly Hills, LLC, paved the way for courts in New York to hold accountable businesses that sell goods or services to New York consumers online but have no physical presence in this state.
Fax and email broadcasts can be an easy way to reach large numbers of potential customers and candidates with minimal financial investment. Such transmissions, however, are governed by a variety of laws and are regulated and enforced by the Federal Communications Commission and the Federal Trade Commission. Accordingly, you need to be aware of and comply with a variety of rules before you hit the send button.
The recent rise in construction accidents in New York City over the past two years has spurred an increase in criminal investigations and/or prosecutions in connection with these incidents. From the most recent prosecutions in the Bronx in connection with the fire at 236 E. 178th St. that claimed the lives of two firefighters, to the indictments in the Deutsche Bank fire and the 51st Street crane collapse, courts and juries are being asked to determine whether corporations, acting through high managerial agents, are guilty of criminal negligence or ordinary negligence.
Over the last decade, the use of alternative dispute resolution procedures has increased dramatically. More and more, parties are opting to turn to mediation and arbitration as a means of resolving disputes more quickly, and at less cost, than is typically associated with fullscale litigation. This article will briefly describe and compare these different approaches to resolving disputes.
In Mark Bruce International, Inc. v. Blank Rome, LLP, it was undisputed that in October 2005 Mark Bruce first proposed a merger between Blank Rome and Healy & Baillie, a 28-lawyer firm specializing in maritime law.
Does your business use mandatory arbitration clauses in any of its contracts with its clients or employees? Chances are, if your business enters into contracts, there are probably mandatory arbitration clauses in at least some of them. Legislation currently pending before Congress may eventually put an end to the widespread use of such mandatory arbitration clauses, which have proliferated in employment contracts, credit card agreements, HMO contracts, securities broker contracts and other contexts in recent years.
New federal rules regarding electronic discovery are changing the way we all think about preserving documents when the possibility of litigation arises – or at least they should be. While there has always been an obligation to search electronic systems for documents and data responsive to discovery requests, the new rules strengthen and clarify that obligation.
You’ve won a quick and relatively inexpensive victory and obtained a money judgment against the defendant as a result of a default or an early dispositive motion. Often in this context, the chief battle is just beginning, especially if the judgment debtor is a small company or an individual.
The broad sword and shield are often the primary tools used by litigation attorneys in protecting a client’s rights. However, there are times when a client will be best served by tact, diplomacy and understanding, which can go a long way toward resolving disputes before they turn into lawsuits.