Legal News

As the pandemic-induced recession continues, there will be increasing opportunities for investors to acquire failing businesses at bargain prices. Companies with sound business models that were until recently profitable may now be faced with no better option than to sell their assets for as much as the open market will pay. Buyers of these failing companies will likely have the power to strike favorable deals for amounts that sellers would have summarily rejected six months ago. However, buyers....

The Mississippi Commission on Environmental Quality (“MCEQ”) and Dixie Springs Enterprises, LLC (“Dixie”) entered into a July 24th Agreed Order (“AO”) addressing an alleged violation of certain provisions of the Mississippi Code related to stormwater permitting. See Order No. 7059 20. The AO provides that Dixie is involved with a residential development in Summit, Mississippi....By: Mitchell, Williams, Selig, Gates & Woodyard,

Congress recently passed the economic stimulus package referred to as the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act1”), the Paycheck Protection Program and Health Care Enhancement Act (“PPPHCE Act”), and the Paycheck Protection Program Flexibility Act (“PPP Flexibility Act”) (together, the CARES Act1, PPPHCE Act, and PPP Flexibility Act are called the “CARES Act”). The CARES Act is important to certain real estate businesses because it offers necessary financial ...

The Mississippi Commission on Environmental Quality (“MCEQ”) and Little Bluff, LLC, (“Little Bluff”) entered into a May 4th Agreed Order (“AO”) addressing an alleged failure to obtain a storm water permit. See Order No. 7037 20. The AO provides that Little Bluff is engaged in a residential development in Ocean Springs, Mississippi....By: Mitchell, Williams, Selig, Gates & Woodyard,

If the 2008 recession gives us the ability to predict anything about upcoming trends in commercial litigation, it is that healthy companies, which normally would not be targeted as defendants, will be sued because the primary wrongdoers are judgment proof. Businesses that are owed money from defunct companies are unlikely to accept substantial losses without exploring ways to collect their debt from third parties, whose liability may not be readily apparent. Under the law of most states, there.....

Congress recently passed the economic stimulus package referred to as the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act1”), the Paycheck Protection Program and Health Care Enhancement Act (“PPPHCE Act”), and the Paycheck Protection Program Flexibility Act (“PPP Flexibility Act”) (together, the CARES Act1, PPPHCE Act, and PPP Flexibility Act are called the “CARES Act”). The CARES Act is important to certain real estate businesses because it offers necessary financial ...

In Factory Mut. Ins. Co. v. Skanska United States Bldg., No. 18-cv-11700-DLC, 2020 U.S. Dist. LEXIS 95403 (Skanska), the United States District Court for the District of Massachusetts considered whether contractors on a construction job were additional insureds on the developer’s builder’s risk insurance policy. After a water loss occurred during construction, the builder’s risk insurance carrier paid its named insured for the resultant damage, and subsequently filed a subrogation action agai...

Congress recently passed the economic stimulus package referred to as the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act1”), the Paycheck Protection Program and Health Care Enhancement Act (“PPPHCE Act”), and the Paycheck Protection Program Flexibility Act (“PPP Flexibility Act”) (together, the CARES Act1, PPPHCE Act, and PPP Flexibility Act are called the “CARES Act”). The CARES Act is important to certain real estate businesses because it offers necessary financial ...

The Arkansas Department of Energy and Environment – Division of Environmental Quality (“DEQ”) and City of Little Rock (“Little Rock”) entered into a June 19th Permit Appeal Resolution (“PAR”) addressing a previously filed Request for Commission Review and Adjudicatory Hearing (“Request”) before the Arkansas Pollution Control and Ecology Commission (“Commission”). See Docket No. 2010-001-P. Pursuant to the Request, Little Rock challenged a Clean Water Act National Pollution Discharge ...

Since the start of the COVID-19 pandemic, several buyers in M&A transactions have sought to avoid closing on a transaction alleging that the seller experienced a material adverse effect (MAE) or breached interim operating covenants between signing and closing. A MAE is typically defined in the definitive agreement and can be a heavily negotiated point and interim operating covenants have historically been tied to operating in the ordinary course......By: White and Williams LLP