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Preemption › Loan Agreements

Kramer Levin Naftalis & Frankel LLP

New York’s Highest Court Finds That Federal Bankruptcy Law Does Not Preempt State Law Tortious Interference Claims in Important...

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On Nov. 24, 2020, the State of New York Court of Appeals ruled in favor of Kramer Levin client Sutton 58 Associates LLC (Sutton), an affiliate of Gamma Real Estate, in its $100 million lawsuit brought against real estate...more

Patterson Belknap Webb & Tyler LLP

Court of Appeals Holds Bankruptcy Law Does Not Preempt Lender’s Tortious Interference Claims Against Third-Party Non-Debtors

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In Sutton 58 Associates LLC v. Pilevsky, the New York Court of Appeals recently held in a 4-3 split decision that, under certain circumstances, bankruptcy law does not preempt a lender’s state law claims against third-party...more

Dechert LLP

“Nobody Fell Off the Turnip Truck Yesterday”: What’s at Stake for Commercial Real Estate Lenders in Sutton 58?

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Sutton 58 Associates LLC v. Pilevsky et al., is a New York case which gets to the heart of the enforceability of classic single-purpose entity restrictions in commercial real estate lending. At issue is how far a third-party...more

Troutman Pepper

Remand Decision in Madden v. Midland Funding Raises Questions Regarding Choice of Law Clauses in Consumer Loan Agreements

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A careful parsing of state laws should be done if a lender is relying on a choice of law to avoid states that have criminal usury statutes. On February 27, the U.S. District Court for the Southern District of New York...more

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