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Uniform Commercial Code (UCC) Commercial Property Owners

Holland & Knight LLP

New York State Legislature Prepares to Enact Mezzanine Debt and Preferred Equity Tax Bill

Holland & Knight LLP on

In August 2020, a bill was introduced in the New York State Legislature that would tax mezzanine debt (the Mezzanine Debt Bill). The Mezzanine Debt Bill has now been reintroduced in both the Assembly and the Senate and is...more

Morrison & Foerster LLP

Courts: A Foreclosure Pandemic Pause? (Part 2)

As borrowers continue to experience financial distress and loans go into default as a result of the ongoing coronavirus pandemic and related issues, lenders are now becoming more focused on the need to take a closer look at...more

Troutman Pepper

NY Court Blocks Mezzanine Lender’s UCC Foreclosure Sale in Light of COVID-19 Pandemic

Troutman Pepper on

On June 23, the New York County Supreme Court issued a rare preliminary injunction temporarily halting a mezzanine lender’s UCC foreclosure sale of the Mark Hotel in New York City because the procedures for the foreclosure...more

Dechert LLP

Mezzanine Foreclosure in the Time of Coronavirus: The Final Chapter

Dechert LLP on

A decision yesterday by the New York Supreme Court has paved the way for mezzanine lenders to proceed with UCC foreclosure sales in New York City during the pandemic. Yesterday afternoon, Justice Frank Nervo issued an order...more

Benesch

COVID-19: Focus on the Impact on Commercial Real Estate

Benesch on

The Coronavirus Disease 2019 (COVID-19), is the latest viral outbreak affecting the physical and economic health of the world. With a global impact and over 1,600 reported cases identified in the United States (as of the date...more

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