No matter how savvy and experienced, lenders and other clients who provide commercial real estate financing often seem to get tied in knots when considering the mortgage financing of a ground lease or other leasehold interest. Key considerations may be overlooked in the process of analyzing and underwriting a potential credit. I often provide the list of points below to clients to consider when reviewing a leasehold financing opportunity. While the list is by no means all
In Pennsylvania, the limited liability company has been in existence for over 20 years. A limited liability company is simple and relatively inexpensive to form, does not require the demanding procedural upkeep of a corporation, is very flexible in allowing its members to structure it to meet their specific needs, shields all of its members from personal liability, and can receive the same tax treatment as a partnership or Subchapter S corporation. Most owners of real estat
Philadelphia, PA — Manko, Gold, Katcher & Fox partner John Gullace discussed CERCLA liability as a panelist on an August 5 webinar entitled, “Allocating CERCLA Liability: Divisibility or Section 113 Equitable Contribution”. Gullace and the panel examined the statutory language and what the Burlington Northern & Santa Fe Railway Co. v. U.S. decision means for divisibility, provided guidance for environmental counsel on when the divisibility of harm defense is appropriate and d
The cornerstone of any litigation is the ability to establish standing, or the right to pursue a lawsuit as the proper party in interest. In the foreclosure context, the issue often arises in the form of whether a party seeking to enforce the note can establish that it has legal standing to enforce the note terms.
The foreclosure crisis revealed a systemic problem related to assignees seeking to enforce assigned notes. Faulty transfers due to the prior holder’s failure to