Janice Mac Avoy

December 04, 2020 | New York Law Journal

An analysis of decisions which reflect a marked change in how courts have addressed attempts to enjoin UCC foreclosures in connection with the COVID-19 pandemic.

By Janice Mac Avoy, Matthew D. Parrott, Justin J. Santolli and Shira Sandler

10 minute read

July 11, 2019 | New York Law Journal

On June 6, the Appellate Division, First Department issued 'Atlas MF Mezzanine Borrower v. Macquarie Texas Loan Holder' that will reassure the real estate lending community of the finality of foreclosure sales pursuant to the Uniform Commercial Code.

By Janice Mac Avoy, Matthew D. Parrott and Justin J. Santolli

10 minute read

November 26, 2018 | New York Law Journal

The New York County Supreme Court's decision in 'CB Frontier v. Wilmington Trust, N.A.' to grant summary judgment holding that the floor area ratio bonus was not collateral under the mortgage surprised many in the commercial real estate community. While the decision has been appealed to the Appellate Division, the current decision raises areas of concern for lenders, and could lead borrowers (and lenders) to more closely scrutinize their existing loan documents to see if they will support a claim that a FAR bonus is not collateral under the mortgage.

By Janice Mac Avoy and Justin J. Santolli

8 minute read

July 16, 2018 | New York Law Journal

Justice Barry Ostrager's holding in the HH Cincinnati case is highly significant. It represents the first written decision under New York law expressly confirming that when parties to complex commercial real estate financing transactions decide to include both a real property mortgage and a pledge of UCC security interests as collateral for the loan, the lender's right to enforce its remedies pursuant to either security interest will be fully enforced.

By Janice Mac Avoy, Matthew D. Parrott, Cynthia Luo

1 minute read

June 21, 2010 | New York Law Journal

Janice Mac Avoy, a partner at Fried, Frank, Harris, Shriver & Jacobson, and David Charles Pollack, an associate with the firm, write that although a Fourth Department panel has set a welcome precedent for real estate developers by upholding a lower court's preliminary injunction for the payment of a construction loan, uncertainties and pitfalls remain for the borrower.

By Janice Mac Avoy and David Charles Pollack

13 minute read