New York Court of Appeals Holds No Bankruptcy Preemption of Lender Tort Claims Against Related Third Parties

The State of New York Court of Appeals has held that claims against non-debtor related parties, based on their actions to aid or induce Chapter 11 debtors to breach contractual loan covenants, were not subject to preemption under federal bankruptcy law.

Killing the Golden Goose: The Declining Health of State Unclaimed Property Programs

States are becoming ever more zealous in their pursuit of unclaimed property as a way to secure steady and reliable funding for their budgets. Unclaimed property is thus a “golden goose” for state budgets. However, this aggressive pursuit—especially through private contractors compensated through a contingency fee—may kill the golden goose. This article offers a diagnosis and some suggestions for states’ treatment of unclaimed property.

Massachusetts Court Clarifies Statute of Repose Trigger for Multi-Phase Construction Projects

In a recent case, the United States District Court for the District of Massachusetts held that the completion of a multi-phase “improvement” to a condominium triggered the six-year statute of repose for the builder’s negligence and breach of implied warranty claims for the whole project, rather than each individual phase.

Court Rejects Philadelphia’s Method of Assessing Condominium Properties

A recent Philadelphia Court ruling rejected a new land valuation method used by the city to assess the property tax burden of condominium owners. In rejecting the city’s approach, the court embraced the traditional valuation process more commonly used to assess the amount of property tax condominium owners must pay.

Rail Park Redux

The first phase of Philadelphia’s version of The Highline opened on June 14. Located between Broad and Noble Streets on the one hand, and 11th and Callowhill Streets on the other, The Philadelphia Rail Park has added a slice of green to a formerly industrialized, warehouse district just north of Chinatown. The Park has been

Zoning Hurdles for Budding Pennsylvania Cannabis Businesses

The Pennsylvania Medical Marijuana Act (Act 16) establishes three different categories of permits for operators: (1) grow/process permits, (2) dispensary permits, and (3) clinical registrant permits. A limited number of clinical registrants may be permitted in Pennsylvania, each with one grow/process facility and up to six dispensary locations. Since the passage of Act 16, a