Often, the performance by parties to a contract varies from the written terms and conditions of the contract in slight, immaterial ways. Occasionally, the parties’ performance, either individually or collectively, may vary...more
Over the last year, since the onslaught of the COVID-19 pandemic, we have continued to report on how the courts have handled efforts by lenders to address pandemic-related defaults, including by means of Uniform Commercial...more
The increase in loan and lease defaults in the wake of COVID-19 has brought to the forefront numerous legal defenses by borrowers and tenants, such as force majeure, impossibility, and frustration of purpose. Force majeure...more
While the world may be in a state of semi-paralysis waiting for a COVID-19 vaccine, the legal environment involving creditors’ rights has changed significantly during the past several months.
In the beginning of the...more
The number of lawsuits in the New York Supreme Court, New York County, concerning leases between commercial landlords and tenants continues to rise in the wake of the COVID-19-related shutdowns, indelibly impacting the legal...more
Moritt Hock & Hamroff has been following the impact of the COVID-19 pandemic on creditors’ rights. On May 21, 2020, we reported on the pandemic’s impact on Uniform Commercial Code (“UCC”) Article 9 sales — specifically,...more
In an effort to flatten New York State’s infection and hospitalization rate due to the COVID-19 pandemic, Governor Cuomo signed an executive order in March 2020, mandating statewide lockdown measures. Those measures appear...more
Moritt Hock & Hamroff recently reported on the impact of the COVID-19 pandemic on Uniform Commercial Code (“UCC”) Article 9 sales. Now, a second significant decision on this issue has been published. While our last alert...more
A recent New York State Supreme Court judge has answered the question of whether Governor Andrew Cuomo’s Executive Order 202.8 precluding mortgage foreclosures for ninety (90) days, applies to Uniform Commercial Code (“UCC”)...more