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New York High Court rules that statutory interest not included with liquidated damages - unless you say so

Reed Smith LLP
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USA
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February 14 2013

A recent opinion by New York's highest court (J. D'Addario & Co. v. Embassy Indus., Inc. Slip Op 07850, Court of Appeals) held that a seller's "sole

Illinois legislation rejects In re Crane

Reed Smith LLP
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USA
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February 12 2013

Custom and practice in Illinois with respect to mortgages has been to incorporate the note or other debt instrument by reference, rather than to

Oil and gas leasing and development: a real estate lending perspective

Reed Smith LLP
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USA
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December 31 2012

The Marcellus, Utica and other Shale gas plays have been an economic boon to landowners, the oil and gas industry, and the states and communities in which

Fannie Mae and Freddie Mac are both plaintiffs and defendants in transfer tax cases in Illinois

Reed Smith LLP
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USA
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July 2 2012

As predicted, Illinois has realized its potential to realize on real estate transfer taxes with Fannie Mae and Freddie Mac

Financing contingencies and earnest money deposits: if I can't get my loan, I get my deposit back, right?

Reed Smith LLP
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USA
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February 22 2012

Real estate purchasers whose contract permits the return of the earnest money deposit if financing cannot be obtained must be extremely careful in how this contingency is worded in the purchase contract, or a purchaser may get an unwelcome surprise, and be forced to forfeit the earnest money when financing cannot be obtained

Chicago's Vacant Building Ordinance addresses some serious problems - and creates some of its own, too

Reed Smith LLP
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USA
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January 24 2012

Chicago’s Vacant Building Ordinance, which imposes substantial and unprecedented duties on mortgagees of residential real estate located in the city of Chicago, continues to generate controversy and lawsuits

Court finds defendants knowingly waived right to jury trial, affirms such waivers must be clear

Reed Smith LLP
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USA
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December 19 2011

Defendant Bethany Holdings Group, LLC borrowed more than $200 million from Lehman, securing the loans with mortgages on real properties

Secured lender took sufficient affirmative action to effect the assignment of rents

Reed Smith LLP
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USA
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December 19 2011

The debtor executed a mortgage and assignment of rents in favor of the lender

Court denies lender’s motion to dismiss Section 547 preference action seeking to avoid valid foreclosure sale

Reed Smith LLP
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USA
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December 19 2011

The lender foreclosed on the borrower’s property after the borrower defaulted on its loan obligations

SEC targets key mortgage REITs exemption

Reed Smith LLP
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USA
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December 14 2011

Mortgage real estate investment trusts (“MREITs”), which provide much needed liquidity to a capital starved real estate market, are at risk of losing a key exemption under the Investment Company Act of 1940 (the “Act”

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