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New York Law Journal

Amended Guaranty Law Raises Questions of Statutory Interpretation and Constitutionality

An analysis of the conflict that exists between the Amended Guaranty Law's explicit statutory language and the City Council's newly published declaration of legislative intent and findings. The article looks at the question of statutory interpretation and examines whether the newly amended Guaranty Law passes muster under the U.S. Constitution's Contracts Clause.
14 minute read

New Jersey Law Journal

'Clogging' and the Dual Collateral Loan: An Update

The focus of this article is on situations where the clogging doctrine is invoked regarding remedies available to a lender utilizing a financing structure that has come more recently into vogue—the dual collateral loan.
7 minute read

New Jersey Law Journal

Why Do Courts Ignore the Mortgage Foreclosure Exception to the ECD?

The courts have worked with the preconceived notion that the Entire Controversy Doctrine applies to foreclosure litigation, when it does not.
10 minute read

New York Law Journal

Real Estate Loan Workouts

The COVID-19 pandemic continues to place enormous stress on the commercial real estate industry, with an increasing number of commercial real estate loans facing borrower defaults. In their Transactional Real Estate column, Peter Fisch and Salvatore Gogliormella discuss the choices lenders in these default scenarios face.
10 minute read

Daily Business Review

Growing Business in Bankruptcy Litigation Fuels Attorney Hiring

Nelson Mullins expects another uptick in insolvency-related work in the fourth quarter and an even greater increase in first quarter of 2021, said Gary Freedman, vice chair of its bankruptcy and financial restructuring practice.
4 minute read

New York Law Journal

Restructurings in the Age of COVID-19 and the CARES Act

To mitigate the financial havoc caused by the COVID-19 pandemic, Congress swiftly passed a myriad of well-intentioned bills—and set the stage to redefine the landscape for restructurings.
8 minute read

New York Law Journal

Mezzanine Loans: How To Handle Affiliate Claims

In their Real Estate Financing column, Jeffrey Steiner and David Broderick write: As the COVID-19 pandemic continues to wreak havoc on the real estate industry, and as the initial lender reaction of accommodation to borrowers has mostly continued, there has been a shift from loan modifications to defaulted loan forbearance arrangements, together with a very public increase in mezzanine-lender enforcement actions, as evidenced by the public advertisements of notices of sale.
6 minute read

Daily Business Review

Costa Hollywood Condo-Hotel Bankruptcy Sale to New York Lender Approved

The sale to the stalking-horse bidder and secured lender is approved after no one else qualified to bid on unsold units at the hotel-condo a block from the beach.
3 minute read

Daily Business Review

Coronavirus Thwarts Bidding for Costa Hollywood Beach Resort's Unsold Units

Dozens of unsold units at the beachfront condo-hotel are expected to end up in the hands of the lender, which offered a $43 million credit bid in a bankruptcy auction that drew no bidders.
3 minute read

New Jersey Law Journal

When Does a Transaction Constitute an Equitable Mortgage?

The issue of whether a transaction was an equitable mortgage is replete with both factual and legal/equitable issues.
4 minute read

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