In an appeal heard by the Appellate Division of the Supreme Court in the First Judicial Department of New York, the Court recently ruled that a court may reform a guaranty after the statute of limitations for a reformation of...more
3/29/2024
/ Appellate Courts ,
Borrowers ,
Breach of Contract ,
Contract Claims ,
Foreclosure ,
Loan Agreements ,
Mortgages ,
Non-Recourse Loans ,
NY Supreme Court ,
Promissory Notes ,
Statute of Limitations
In a case litigated in the New York Supreme Court, the Court recently ruled that a private equity firm that acquired a mortgage loan made on the Maxwell Hotel in New York does not have the authority necessary to convert...more
Since the start of the COVID-19 pandemic, borrowers and lenders alike have sought clarity regarding the permissibility of UCC foreclosure sales in the midst of the ongoing pandemic and the resulting economic fallout, as...more
3/23/2021
/ Administrative Orders ,
Appellate Courts ,
Borrowers ,
Coronavirus/COVID-19 ,
Foreclosure ,
Irreparable Harm ,
Mezzanine Lenders ,
NY Supreme Court ,
Preliminary Injunctions ,
Real Estate Market ,
Uniform Commercial Code (UCC) ,
Valuation
In February of this year, strict new regulations, promulgated by the New York Department of Financial Services (DFS), went into effect, banning title companies from engaging in a wide range of marketing activities that could...more