New York Law Journal | Commentary
By Y. David Scharf, David B. Saxe and Aaron B. Lauchheimer | March 19, 2021
The COVID-19 pandemic has badly shaken the commercial real estate market. A recent First Department decision has thrown an unfortunate barrier up against the hope for a turnaround.
New York Law Journal | Analysis
By Morgan R. McCord | March 12, 2021
The Appellate Division's decision is a welcome relief to the mortgage servicing industry.
New York Law Journal | Commentary
By K. Scott Kohanowski | February 16, 2021
It is time for New York to protect all owner-occupants of residential property and urgently close the loophole that denies at-risk co-op unit owners the protections accorded to similarly situated homeowners.
New York Law Journal | Analysis
By Barbara M. Goodstein | February 3, 2021
In her Secured Transactions column, Barbara M. Goodstein discusses 'In re Le Tote', which involved an attempt by a secured creditor to enforce payment obligations of Lord & Taylor under a master lease agreement for 24 retail stores. U.S. Bankruptcy Judge Keith Phillips rejected that attempt, citing numerous reasons, but among them being that the plain language of §9-109 applied and the exception under §9-604 did not.
New York Law Journal | Expert Opinion
By Jeffrey Steiner and David Broderick | January 19, 2021
During periods of distress in the real estate industry, when loans are being placed in default at a higher frequency, if a lender is not going to enter into a consensual workout or loan restructuring with their defaulted borrower, the lender will have the choice of either enforcing rights under the loan, or selling it. In their Real Estate Financing column, Jeffrey Steiner and David Broderick discuss two recent cases demonstrating the challenges lenders may face with each of these options.
New York Law Journal | Analysis
By Peter Janovsky | January 19, 2021
A new provision of the Bankruptcy Code covering small businesses took effect in February 2020. Referred to as "Subchapter V," it provides a streamlined process for reorganization of businesses under a certain debt threshold. This article focuses on issues revealed in case law since the law took effect.
New York Law Journal | Analysis
By Bernard D'Orazio | January 8, 2021
Many judgment debtors ignore post-judgment subpoenas. Whatever the reason, when there is non-compliance the judgment creditor must be ready and willing to commence a contempt of court proceeding.
New York Law Journal | Analysis
By Milton Williams and Christopher Dioguardi | January 8, 2021
Sometimes a prospective client is on the verge of bankruptcy, or creditors loom; sometimes the prospective client is a criminal defendant whose property is subject to forfeiture. Here's what to be mindful of before entering a retainer agreement in these cases.
New York Law Journal | Analysis
By Pankaj Malik and Melissa J. Montenes | December 30, 2020
This article focuses on specific challenges to the applicability of CPLR §205(a) known as the "Savings Clause" to a new foreclosure action commenced in which the mortgage debt has been accelerated and a prior foreclosure action was dismissed.
New York Law Journal | Analysis
By Robert Dremluk | December 15, 2020
During the past few months several New York cases involving UCC sales of equity pledged to secure mezzanine loans have underscored whether the concept of commercial reasonableness may apply differently during the COVID-19 pandemic.
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