Two recent developments promise to shed more light on the legal status of unauthorized street art, which we explored earlier this year in our post Unchartered Territory: Enforcing an Artist’s Rights in Street Art.
Cohen v. G&M Realty L.P.,
Latest from Hughes Hubbard & Reed LLP - Page 10
Can a Tax-Exempt Arts Organization Take a Political Position?
The short answer is yes.1 Nonprofit organizations with tax-exempt status should not lose that status if, in furtherance of their exempt purpose, they speak out about issues affecting their constituents and the communities they serve. While nonprofit organizations are
Bankruptcy Court Limits Rule 2004 Requests
The Southern District of New York Bankruptcy Court recently limited certain bankruptcy discovery requests pursuant to Federal Rule of Bankruptcy Procedure 2004 by applying the concept of proportionality contained in the 2015 amendments to Federal Rule of Civil Procedure 26
First Circuit Provides Clarity to Puerto Rico Creditors Seeking Relief
The First Circuit’s recent opinion on the Puerto Rico Oversight, Management, and Economic Stability Act (“PROMESA”, 48 U.S.C §§ 2101-2241) outlines initial guidelines for possible future actions against the Puerto Rican government as a result of the Commonwealth’s ongoing debt
Hughes Hubbard Bankruptcy Review for 2016
We are pleased to share with you the Hughes Hubbard Bankruptcy Review for 2016. Restructurings are often the ultimate “bet-the-company” case, and we thank our clients for their continuing trust and confidence in our team.
Bankruptcy Court Decision Illustrates Limits of Section 510(b) Subordination of Claims
A recent decision in the Bankruptcy Court for the District of Delaware explored the limits of mandatory subordination under section 510(b) of the Bankruptcy Code. In In re FAH Liquidating Corp., No. 13-13087(KG), 2017 WL 95115 (Bankr. D. Del. Jan.
Newly Enacted U.S. Statute Protects Foreign Museums from Art Seizures
A newly enacted federal statute is intended to facilitate loans of art to U.S. museums from government-owned museums abroad, by protecting the art from private claimants while in the U.S. In recent years, fear that a U.S. court might order
The Gate Swings Shut: Second Circuit Ruling Narrows Restructuring Limitations.
After a 2014 decision in the Southern District of New York holding that section 316(b) of the Trust Indenture Act (“TIA”) barred any non-consensual restructuring that impaired a creditor’s actual ability to receive payment, issuers, creditors and the financial markets
Unchartered Territory: Enforcing an Artist’s Rights in Street Art
As street art – typically painting or drawing on someone else’s wall – grows in status in art circles,1 street artists are finding that their work is increasingly being exploited without their permission. While a number of these artists have attempted
Proposed Amendments to Protect New York Art Authenticators Pending While Lawsuits Regarding Authentication Disputes Persist
The lawsuit1 recently filed by the Mayor Gallery against the authors and sponsors of the Agnes Martin catalogue raisonné illustrates the ongoing legal risks faced by scholars and other agents who volunteer to authenticate artworks.
Authenticators play a valuable role