New York Court Confirms Enforceability of UCC Equity Interest Pledges
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.
July 16, 2018 at 02:30 PM
1 minute read
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Background – the Equity of Redemption
|The HH Cincinnati Decision
The court's decision therefore comes as very good news both for lenders in the modern real estate financing arena, and for the borrowers who will continue to seek financing from them. Janice Mac Avoy and Matthew D. Parrott are partners and co-chairs of the Real Estate Litigation Group at Fried Frank Harris Shriver & Jacobson LLP. Cynthia Luo, an associate with the firm, assisted in the preparation of this article.
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