Tag Archives: Business Litigation

Mitigating Risks Associated with Hotel, Restaurant and Entertainment Industry Economic Challenges: Part 5 – Commercial Foreclosures 101

Sometimes, foreclosure of a commercial property is the only option available to lenders and servicers to limit losses as a result of defaults on hotel and restaurant mortgages.  Parts 1-4 of this series discussed pre-foreclosure options available to lenders dealing … Read Full Post

CATEGORY: Banking & Financial Services Industry Blog, Florida Business Litigation Blog, Real Estate Development, Sales and Leasing Industry Blog Practice Areas: , , ,

New Florida Law Substantially Reduces Retainage Rate on Government Construction Projects

On September 18, 2020, Florida Governor Ron DeSantis signed House Bill 101, an act relating to public construction, into law. This new law amends Section 218.735, Florida Statutes (the “Local Government Prompt Payment Act”) and Section 255.078, Florida Statutes (the … Read Full Post

CATEGORY: Florida Business Litigation Blog, Florida Construction Industry Law Blog Practice Areas: ,

Mitigating Risks Associated with Hotel, Restaurant and Entertainment Industry Economic Challenges: Part 4 – Assignment of Rents Under Section 697.07, Florida Statutes

Parts 1-3 of this series explored alternative pre-foreclosure loss mitigation options for lenders including acceleration and enforcement of personal guarantees. This article explores Section 697.07, Florida Statutes, which governs the assignment of rents. Assignment of Rents under Section 697.07, Florida … Read Full Post

CATEGORY: Banking & Financial Services Industry Blog, Florida Business Litigation Blog, Real Estate Development, Sales and Leasing Industry Blog Practice Areas: , , , ,

Overview of Florida’s New Uniform Commercial Real Estate Receivership Act

On July 1, 2020, the Uniform Commercial Real Estate Receivership Act (“Act”) became law in Florida as part of the newly created Chapter 714 of the Florida Statutes. The Act codifies existing common law in Florida regarding the right to … Read Full Post

CATEGORY: Banking & Financial Services Industry Blog, Florida Business Litigation Blog Practice Areas: , ,

Mitigating Risks Associated with Hotel, Restaurant and Entertainment Industry Economic Challenges – Part 3: Commercial Mortgage Default Options Including Acceleration and Enforcement of Personal Guaranties

In reviewing a loan file after a default by a borrower, lenders should evaluate whether the loan includes an acceleration clause and whether the loan is secured by any personal guaranties. With commercial loans, typically the loan documents will include … Read Full Post

CATEGORY: Banking & Financial Services Industry Blog, Florida Business Litigation Blog, Real Estate Development, Sales and Leasing Industry Blog Practice Areas: , ,

Does a Commercial Landlord Have a Duty to Mitigate Damages After a Tenant Breaches the Lease Agreement?

Generally, a commercial landlord does not have a duty to mitigate or reduce its damages after a tenant breaches the commercial lease agreement.  See Coast Fed. Savs. & Loan Ass’n v. DeLoach, 362 So. 2d 982, 984 (Fla. 2d DCA … Read Full Post

CATEGORY: Florida Business Litigation Blog, Real Estate Development, Sales and Leasing Industry Blog Practice Areas: , , ,

Mitigating Risks Associated with Hotel, Restaurant and Entertainment Industry Economic Challenges – Part 2: Pre-Foreclosure Loss Mitigation Options

After a borrower default, lenders have multiple options to consider.  While foreclosure may be inevitable, with the right facts and strategy, lenders can minimize their risk and maximize their potential recovery. Part 1 of this series provided a general overview … Read Full Post

CATEGORY: Banking & Financial Services Industry Blog, Florida Business Litigation Blog Practice Areas: , , ,

Florida Non-Compete Agreements and Protecting Referral Sources and Patient Lists

Many businesses require their employees to sign non-compete agreements, as a condition of their employment.  In Florida, those non-compete agreements and their enforceability are governed by Section 542.335 of the Florida Statutes.   As discussed more fully below, referral sources and … Read Full Post

CATEGORY: Florida Business Litigation Blog Practice Areas: ,

Mitigating Risks Associated with Hotel, Restaurant and Entertainment Industry Economic Challenges – Part 1: Introduction and Considerations When Hotels and Restaurants Default on Their Mortgages

Given the industry-wide effects from COVID-19, lenders are already aware that many clients in the hospitality industry will have difficulties staying current on their mortgages and loan obligations.  This is especially true for hotels and restaurants.  This blog series focuses … Read Full Post

CATEGORY: Banking & Financial Services Industry Blog, Florida Business Litigation Blog Practice Areas: , , ,

SBA 7(a) Loan Liquidation: Which Liquidation Actions Require SBA’s Pre-Approval (Part 1)

7(a) Loan Liquidation Actions This article is Part I of a two-part blog series, designed to assist 7(a) lenders and Certified Development Companies in determining which liquidation actions require SBA’s pre-approval on SBA loans. Part I in this blog series … Read Full Post

CATEGORY: Banking & Financial Services Industry Blog, Florida Business Litigation Blog Practice Areas: ,