New York Law Journal Featured Columnists November 20, 2008
By David Badertscher, PLL
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<p><a href="http://www.law.com/jsp/nylj/PubArticleNY.jsp?id=1202426145703" target="_blank"><font size="2"><font color="red">Free:</font> A Beacon in the Storm</font></a><br/><font size="2">Thursday, November 20, 2008<br/>By E. William Bates II and C. William Baxley<br/><br/>"
E. William Bates II and C. William Baxley, partners at King & Spalding, ask: When a company faces a takeover bid or considers whether to engage in M&A activity, what role should a lead director play to ensure that the board and management act in a measured, orchestrated manner designed to advance the best interests of the corporation and its shareholders? Also in this issue of <a href="http://www.gcnewyork.com/" target="new"><font color="#003366">GC New York</font></a>, 'Mixed Messages' and 'What Rights Do Unions Have to Solicit on Employer's Property?' "
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<p><a href="http://www.law.com/jsp/nylj/PubArticleNY.jsp?id=1202426150238" target="_blank"><font size="2">Professional Liability</font></a><br/><font size="2">Thursday, November 20, 2008<br/>By Norman B. Arnoff and Sue C. Jacobs<br/><br/>"Attorney Norman B. Arnoff and Sue C. Jacobs, a member of Goodman & Jacobs, write that however the standard of causation is characterized, i.e., proximate cause, as a 'but for' act or omission, or as a 'substantial factor in the sequence of causation,' no legal malpractice cause of action can survive, notwithstanding the degree of bad lawyering, if the resulting loss or the absence of an expected benefit is not the immediate and meaningful product of the lawyer's negligence." </font></p><!--commentsListSize 0--><!-- November 20, 2008 -->
<p><a href="http://www.law.com/jsp/nylj/PubArticleNY.jsp?id=1202426150198" target="_blank"><font size="2">Tax Litigation Issues</font></a><br/><font size="2">Thursday, November 20, 2008<br/>By John J. Tigue Jr. and Jeremy H. Temkin<br/><br/>"John J. Tigue Jr. and Jeremy H. Temkin, principals in Morvillo, Abramowitz, Grand, Iason & Silberberg, write that regardless of the resolution of the Third Circuit's upcoming reconsideration of <em>Tomko,</em> that case and the approach urged by amici provide an important reminder of the relevance of individual factors under
3553(a) and the complex application of those factors in sentencing white-collar defendants, especially in tax cases."</font></p>
<p><font size="2">OUTSIDE COUNSEL:</font></p>
<p><a href="http://www.law.com/jsp/nylj/PubArticleNY.jsp?id=1202426150314" target="_blank"><font size="2">Mezzanine Finance: The Lender's Exit Strategy</font></a><br/><font size="2">Thursday, November 20, 2008<br/>By Sandra Stern<br/><br/>" Sandra Stern, a member of Nordquist & Stern, writes that the first step a lender should take when default is threatened is to consult any intercreditor or subordination agreement by which it may be bound to see whether the approval of any other party is required to modify the security agreement entered into by the debtor."</font></p>
<p><font size="2">CORPORATE UPDATE:</font></p>
<p><a href="http://www.law.com/jsp/nylj/PubArticleNY.jsp?id=1202426145674" target="_blank"><font size="2"><font color="red">Free With Registration:</font> Corporate Securities</font></a><br/><font size="2">Thursday, November 20, 2008<br/>By John C. Coffee, Jr.<br/><br/>" John C. Coffee, Jr., the Adolf A. Berle Professor of Law at Columbia University Law School and director of its Center on Corporate Governance, writes: Little doubt exists that there were private market failures in the credit crisis, as some CEOs recklessly increased leverage and concentrated their firm's assets in illiquid real estate investments. But what responsibility does the SEC bear for not resisting the steady slide of the major investment banks into insolvency? Some view the SEC as simply having been 'captured' by the industry, while others view the crisis as the result of a bubble in the real estate sector for which no level of precautions would have sufficed. Both interpretations oversimplify." </font></p>
<p><font size="2">REAL ESTATE TRENDS:</font></p>
<p><a href="http://www.law.com/jsp/nylj/PubArticleNY.jsp?id=1202426118618" target="_blank"><font size="2">The Enigma Of Special Servicers</font></a><br/><font size="2">Wednesday, November 19, 2008<br/>By Jeffrey B. Steiner and Zachary Samton<br/><br/>"Jeffrey B. Steiner, a member of DLA Piper LLP (US), and Zachary Samton, counsel to the firm, write that in the current economic environment, special servicers are likely to play an increasingly larger role in the commercial real estate finance market. Consequently, they note, understanding their rights, duties and authority (both legal and contractual) has become more significant for all parties to a securitized mortgage loan and should not be overlooked or underestimated."</font></p>
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