Warren Estis, left, and Alexander Lycoyannis. Courtesy photos Could NYC's Guaranty Law Be Struck Down as Unconstitutional?
Warren A. Estis and Alexander Lycoyannis discuss 'Melendez v. City of New York,' where a group of New York City owners commenced n district court action for a judgment declaring the Guaranty Law unconstitutional and for an injunction permanently enjoining its enforcement.
November 30, 2021 at 10:01 AM
8 minute read
In our June 2020 column, we raised various potential infirmities affecting Intro 1932-2020 (the "Guaranty Law"), which, inter alia, prohibited the enforcement of personal guaranties executed in connection with certain commercial leases. Signed into law by Mayor Bill DeBlasio on May 26, 2020, the Guaranty Law (as subsequently renewed and extended) permanently barred the enforcement of guaranties within its scope for the period from March 7, 2020 through and including June 30, 2021.
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