Jeffrey B. Steiner

March 16, 2005 | New York Law Journal

Kenneth M. Block and Jeffrey B. Steiner, members of Brown Raysman Millstein Felder & Steiner, write that the 1989 amendment to Real Property Law �275 eliminated the statutory obligation of a lender to deliver an assignment upon payment of the outstanding indebtedness, replacing it with the obligation to deliver a certificate of discharge.

By Kenneth M. Block and Jeffrey B. Steiner

10 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

March 21, 2007 | New York Law Journal

Kenneth M. Block and Jeffrey B. Steiner, members of Thelen Reid Brown Raysman & Steiner, write that at higher court levels, recent decisions represent a positive trend for judicial acceptance of the MERS system. Currently in New York, MERS mortgages remain not only eligible for recording but also lawful and enforceable in the state's courts. Florida's appellate courts seem to be moving in the same direction. But decisions in other states, particularly at the trial court level, have had mixed results.

By Kenneth M. Block and Jeffrey B. Steiner

10 minute read

July 18, 2007 | New York Law Journal

Jeffrey B. Steiner and Gerard S. Catalanello, members of Thelen Reid Brown Raysman & Steiner, write that subordinated lenders should recognize that in some scenarios it is possible that they may not have a proverbial "seat at the table" in a chapter 11 bankruptcy case.

By Jeffrey B. Steiner and Gerard S. Catalanello

11 minute read

March 15, 2006 | New York Law Journal

Kenneth M. Block and Jeffrey B. Steiner, members of Brown Raysman Millstein Felder & Steiner, LLP, write that as recent decisions in New York and around the country make clear, banks and other lenders have almost no duty to inform or warn their borrowers' investors, even when the banks suspect that their borrowers are unscrupulous. Absent actual knowledge of a borrower's fraud coupled with active participation in that fraud, a bank will not be held accountable to third party investors.

By Kenneth M. Block and Jeffrey B. Steiner

9 minute read

November 15, 2006 | New York Law Journal

Kenneth M. Block and Jeffrey B. Steiner, members of Brown Raysman Millstein Felder & Steiner, analyze a string of cases that establish the limits of RICO availability: a RICO claim will be available even to a "non-target" so long as the underlying fraudulent act intentionally increased the victim's risk of loss.

By Kenneth M. Block and Jeffrey B. Steiner

10 minute read

March 16, 2011 | New York Law Journal

In their Financing column, Jeffrey B. Steiner, a partner at DLA Piper, and Zachary Samton, counsel to the firm, discuss lending agreement issues which, although rarely the subject of extensive negotiation, can materially impact a commercial mortgage borrower's bankruptcy and the lender's rights in rental income.

By Jeffrey B. Steiner and Zachary Samton

11 minute read

July 19, 2006 | New York Law Journal

Kenneth M. Block and Jeffrey B. Steiner, members of Brown Raysman Millstein Felder & Steiner, review fundamental principles of third party liability in lending transactions and recent litigation involving claims of allegedly false representations and assurances made by borrowers' attorneys and accountants in opinion letters and financial statements that were relied upon by lenders.

By Kenneth M. Block and Jeffrey B. Steiner

12 minute read

January 16, 2008 | New York Law Journal

Jeffrey B. Steiner and Gerard S. Catalanello, members of Thelen Reid Brown Raysman & Steiner, analyze a recent case where a federal appellate court affirmed a bankruptcy court's denial of a corporate lessor's motion to dismiss the lessee's chapter 11 bankruptcy petition on the ground that it was not filed in good faith. The court held that, regardless of whether a chapter 11 bankruptcy case could be dismissed as a "bad faith" filing, preservation of a leasehold interest is a valid bankruptcy purpose.

By Jeffrey B. Steiner and Gerard S. Catalanello

11 minute read

September 13, 2006 | New York Law Journal

Kenneth M. Block and Jeffrey B. Steiner, partners at Brown Raysman Millstein Felder & Steiner, write that today's sophisticated financings are typically governed by thoroughly negotiated loan documents which, among other things, reserve to the lender virtually unlimited discretion in making decisions relating to the loan. The only limitation on this seemingly unbridled power is the judicially imposed implied covenant of good faith and fair dealing . . .

By Kenneth M. Block and Jeffrey B. Steiner

11 minute read