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The Paley Rothman Blog

Paley Rothman shares this library of resources with clients and friends of the firm to help them stay ahead of legal and business developments and trends. Here, you will find helpful tips and tools written by our attorneys.

Corporate, Financial Services

Terrorism Risk Insurance Act Expiration Threatens Commercial Property Loans

Following 9/11, many lenders required property developers and owners to carry terrorism coverage. To facilitate that coverage the Terrorism Risk Insurance Act (TRIA) was established in 2002 as federal protection for insurers if an act of terrorism were to result in losses above $100 million. It had been reauthorized twice, and the House voted to extend TRIA, but Congress, due to lack of agreement in the Senate, was unable to agree on terms to extend the act beyond 2014.

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Corporate, Litigation

Businesses Beware: Spend Now to Save Later Avoid the Future Cost of Do-It-Yourself Contracts

Your business has weathered a rocky economy. You have looked for expenses that can be trimmed from your budget. You eye the number entered next to “Legal Expense” and think that maybe you could reduce it by using some form contracts or drafting your own. Most assuredly, you would only think that way if you have never been involved in litigation.

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Corporate

Limiting Indemnification in Acquisition Agreements

Among the essential elements in an agreement to purchase a company or its assets are the "indemnification" provisions. The selling company or its owners are generally required to indemnify the buyer against damages that the buyer may sustain because of breaches of the representations, warranties and covenants contained in the acquisition agreement. It is important for the sellers to negotiate meaningful limitations to the indemnification obligations. Those limitations take various forms, and often are the subject of intense negotiations.

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Corporate

Certain Property Transfers Now Exempt From MD Taxes

For certain businesses looking to refinance, fireworks weren’t the only thing on their minds this past July 4th. On May 16, the Maryland Governor signed into law House Bill 0372 (Chapter 0453)/Senate Bill 0202 (Chapter 0452) that took effect July 1 and is applicable to all instruments of writing recorded on or after that date.

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