Jason R Goldstein

March 20, 2013 | New York Law Journal

In their Financing column, Joshua S. Sohn and Jason R. Goldstein, partners at DLA Piper, and John Dodson, an associate at the firm, write that a trio of New York Court of Appeals cases has made clear that unjust enrichment claims by brokers against third parties to recover broker fees are becoming increasingly difficult to win.

By Joshua S. Sohn, Jason R. Goldstein and John Dodson

11 minute read

July 18, 2012 | New York Law Journal

In their Financing column, Jeffrey B. Steiner and Jason R. Goldstein, members of DLA Piper, write that while New York bankruptcy courts have interpreted the application of the cramdown provision differently than a recent bankruptcy court decision, the fair and equitable analysis has yielded wide-ranging results nationawide.

By Jeffrey B. Steiner and Jason R. Goldstein

13 minute read

May 16, 2012 | New York Law Journal

In their Financing column, Jeffrey B. Steiner and Jason R. Goldstein, members of DLA Piper, analyze 'In re Loop 76,' where Loop 76 successfully argued that Wells Fargo Bank's unsecured deficiency claim should be placed in a class separate from the rest of the unsecured claims, because the bank had a third-party payment guarantee. Until this point, most practitioners have understood that lenders' deficiency claims, whether or not backstopped by a principal guaranty, were substantially similar to other unsecured claims.

By Jeffrey B. Steiner and Jason R. Goldstein

11 minute read

May 21, 2008 | New York Law Journal

Jeffrey B. Steiner and Jason R. Goldstein, members of Thelen Reid Brown Raysman & Steiner, write that ways to walk away available to real estate owners have shrunk dramatically with the decreased availability of financing sources. Consequently, lenders and borrowers are being forced to negotiate workouts or short-term modifications as a means of bridging their loan facilities to market recovery, especially where existing financing is maturing.

By Jeffrey B. Steiner and Jason R. Goldstein

11 minute read

September 17, 2008 | New York Law Journal

Jeffrey B. Steiner and Jason R. Goldstein, members of DLA Piper LLP, write that in cases of delayed or rejected requisitions, the exercise of discretion contrary to explicit loan provisions may be deemed unconscionable or in bad faith, triggering lender liability or otherwise restricting the lender's ability to exercise certain remedies.

By Jeffrey B. Steiner and Jason R. Goldstein

11 minute read

May 17, 2006 | New York Law Journal

Jeffrey B. Steiner and Jason R. Goldstein, members of Brown Raysman Millstein Felder and Steiner, write that there has been not only a revitalization of the construction-lending business, but also been a budding new growth opportunity . . .

By Jeffrey B. Steiner and Jason R. Goldstein

8 minute read

July 15, 2009 | New York Law Journal

Jeffrey B. Steiner and Jason R. Goldstein, members of DLA Piper, write that zombie loans have dominated recent discussions in both real estate finance industry journals and conferences alike. The term, they say, refers to mortgage loans that while generally considered performing, since the property cash flow or other reserves cover the cost of operating the property and the payment of debt service, are in fact destined for default at a foreseeable later date when, at maturity, the debt service reserve runs dry or the property owner will be unable to refinance the impending balloon payment due to tightening credit standards and depressed real estate values.

By Jeffrey B. Steiner and Jason R. Goldstein

10 minute read

November 17, 2010 | New York Law Journal

Jeffrey B. Steiner and Jason R. Goldstein, members of DLA Piper, write that while financial institutions that make loans secured by commercial real estate are generally aware of the risks posed by foreclosing on real property that could or does in fact contain a hazardous substance, even sophisticated parties can place undue reliance on the protection of Superfund's safe harbor for secured creditors or personal indemnities from borrower principals.

By Jeffrey B. Steiner and Jason R. Goldstein

12 minute read

March 19, 2002 | New York Law Journal

A lmost before the smoke cleared from the World Trade Center attacks, insurance companies were making plans to exclude losses from any future terrorist attacks from basic casualty insurance coverage. The real estate industry has borne the brunt of this exclusion, and real estate lenders have been left with little guidance in how to deal with the post Sept. 11 environment.

By Scott A. Weinberg And Jason R. Goldstein

12 minute read

March 18, 2009 | New York Law Journal

Jeffrey B. Steiner and Jason R. Goldstein, members of DLA Piper (US), write: Lenders seeking to enforce their loan documents must examine the circumstances leading to a borrower default carefully. While the principles of law suggest that all defaults are entitled to enforcement, given that foreclosure is an equitable remedy, lenders should consider the relative strength of their argument in light of possible borrower defenses. In many instances, lenders that wait for a 'clean' default will avoid the unnecessary delay caused by a borrower's argument for equitable relief.

By Jeffrey B. Steiner and Jason R. Goldstein

11 minute read