Commercial

Expert Analysis

• Del. Dispatch: The New 'Director Independence' Definition

  

  The Delaware Court of Chancery's recent decision in Ayers v. Foley, its first interpretation and application of "director independence" as outlined in Section 144 of the Delaware General Corporation Law, suggests that the court will not limit the new section's reach, say attorneys at Fried Frank.

• A New Regulatory Environment For PE In Calif. Healthcare

  

  The California Office of Health Care Affordability's proposed revisions to its cost and market impact review regulations, amid broader state scrutiny of private equity-backed healthcare arrangements, represent a qualitative shift in California's regulatory posture toward institutional healthcare investment, say attorneys at Ropes & Gray.

• CFIUS' Mandate Misses Foreign Risk In Project Subcontracts

  

  Recent calls for the Committee on Foreign Investment in the United States to review equity transactions like the Paramount Skydance-Warner Bros. deal miss a consequential oversight gap — CFIUS' inability to review the subcontracting layer of U.S. infrastructure projects, says Thibaut Giret at Alstef Group.

• New Colo. Retainage Bonds Shift Construction Power Balance

  

  A new Colorado law that can force property owners and developers to accept bonds from contractors in lieu of traditional cash retainage means owners’ practical leverage now derives from administering a risk-transfer mechanism, not from controlling cash, but key questions remain about who may assert a claim and how enforcing a bond actually works, say attorneys at Akerman.

• 8 Ways 2026's Market Divide Is Rewriting Real Estate Risk

  

  As construction activity increasingly concentrates in data centers, healthcare and other resilient sectors, real estate developers and their counsel in the second half of 2026 should consider earlier risk allocation and more protective contract terms, and expect greater pressure on labor, pricing and infrastructure, say attorneys at Cozen O'Connor.

• How Reserve Studies Fit Into Condo Association Compliance

  

  In the five years since the Surfside condominium collapse and as states like New Jersey establish related safety mandates, reserve planning has emerged as a central compliance concern for community associations, acting as a practical tool for responsible disclosure and managing long-term capital obligations, say attorneys at Dilworth Paxson.

• Mapping US-China Investment Compliance For EB-5 Deals

  

  Chinese capital deployment through the U.S.'s EB-5 Immigrant Investor Program, alongside China's recently established outbound investment security framework, creates compliance gaps with the U.S. framework, and unique risks and considerations for practitioners, says Xuan Zhang at Reid & Wise.

• How Tenants Can Guard Against Unpaid Build-Out Allowances

  

  As market pressures on landlords intensify liquidity problems and reimbursement disputes, commercial tenants negotiating office leases should proactively address the risk of delayed or unpaid construction allowances by implementing strategies including escrow protections, letters of credit, guaranties and offset rights, say attorneys at White & Williams.

• Texas Ruling Leaves Key Oil Royalty Question Unresolved

  

  The Texas Supreme Court's recent decision in Fasken Oil and Ranch v. Puig clarifies that royalty reservations containing “free of cost forever” language do not bar deduction of post-production costs — but it leaves open whether prices producers report to royalty owners should reflect what unaffiliated buyers would pay, says Robert Foss at Hinds Feat Advisors.

• Justices Widen Path For Confiscated Cuban Property Claims

  

  For Americans holding claims to confiscated Cuban property, the U.S. Supreme Court’s recent decision in Havana Docks v. Royal Caribbean Cruises means that the expiration of their property interest is no longer a bar and that any company using such property is now a potential defendant, say attorneys at Bracewell.

• 'Operation Hard Money' Marks New Phase In Synthetic ID Fraud

  

  A recent California mortgage fraud case dubbed "Operation Hard Money" shows synthetic identities are increasingly key to mortgage and money laundering schemes, so lenders would be wise to integrate verification and behavioral monitoring as fraud powered by artificial intelligence creates larger losses and recovery challenges, says Neal Levin at Rimon.

• Texas Ruling Makes Avoiding Appraisal Nearly Impossible

  

  By deciding that a coverage dispute doesn't nullify an appraisal clause, the Texas Supreme Court, in its recent Ace American Insurance ruling, makes appraisal nearly unavoidable in state personal auto and residential property disputes, says David Winter at Norton Rose.

• Data Center Developer Lessons From Maine's Vetoed Ban

  

  The regulatory and political dynamics that recently led Maine’s governor to veto a popular bipartisan bill proposing a temporary data center development ban offer a useful template that developers can use to help their projects survive other states' attempts at moratoriums, say attorneys at Thompson Hine.