Since declaring a State of Emergency on March 7, 2020 in response to the COVID-19 pandemic, New York Governor Andrew Cuomo has issued a number of Executive Orders providing protections for both commercial and residential...more
1/11/2021
/ Coronavirus/COVID-19 ,
Eviction ,
Executive Orders ,
Financial Distress ,
Foreclosure ,
Governor Cuomo ,
Landlords ,
Moratorium ,
Mortgages ,
Relief Measures ,
Rent ,
Rental Property ,
State and Local Government ,
Tenants
A recent decision of New York’s highest court potentially strengthens the ability of lenders to bring suits against third parties for participation in a borrower’s breach of single purpose entity/bankruptcy remote loan...more
As the COVID-19 pandemic unfolded upon New York City, policymakers grappled with impossible decisions regarding how to protect public health and stave off economic ruin for individuals, businesses and the economy at large....more
12/7/2020
/ Anti-Harassment Policies ,
Contracts Clause ,
Coronavirus/COVID-19 ,
Due Process ,
Failure To Pay ,
Financial Distress ,
First Amendment ,
Free Speech ,
Harassment ,
Infectious Diseases ,
Landlords ,
Relief Measures ,
Rental Property ,
State and Local Government ,
Tenants
On October 20, 2020, in response to the continued health and economic hardships faced by New York business owners due to the COVID-19 pandemic, Governor Cuomo signed a new executive order extending the Statewide moratorium on...more
10/23/2020
/ Commercial Leases ,
Coronavirus/COVID-19 ,
Eviction ,
Executive Orders ,
Financial Distress ,
Foreclosure ,
Landlords ,
Moratorium ,
Relief Measures ,
Rent ,
Rental Property ,
State and Local Government ,
Tenants
In response to the coronavirus pandemic, the federal government, as well as many States, have enacted eviction and foreclosure moratoriums in an effort to keep homeowners and renters in their homes and slow the spread of...more
9/4/2020
/ Centers for Disease Control and Prevention (CDC) ,
Coronavirus/COVID-19 ,
Eviction ,
Financial Distress ,
Infectious Diseases ,
Landlords ,
Moratorium ,
Public Health ,
Relief Measures ,
Rent ,
Rental Property ,
Tenants
On August 3, 2020, in Shelbourne BRF LLC, Shelbourne 677 LLC v. SR 677 BWAY LLC, the Supreme Court of the State of New York (the “Court”) granted the borrower plaintiffs’ motion for a preliminary injunction and prohibited the...more
On August 5, 2020, New York State Governor Andrew Cuomo issued Executive Order 202.55 (the “New Order”) to provide additional relief to renters impacted by the COVID-19 pandemic and extended the time periods for certain other...more
8/11/2020
/ Coronavirus/COVID-19 ,
Eviction ,
Executive Orders ,
Financial Distress ,
Foreclosure ,
Governor Cuomo ,
Landlords ,
Moratorium ,
Mortgages ,
Relief Measures ,
Rent ,
Rental Property ,
State and Local Government ,
Tenants
A new bill canceling rent for residential tenants, and mortgage payments for some qualified homeowners, was announced last week in New York. This new bill calls for the cancellation of residential rental payments, and...more
On June 2, 2020, in HH Mark Twain LP v. Acres Capital Servicing LLC, the Supreme Court of the State of New York (the “Court”) denied the defendant’s motion to dismiss the plaintiff’s “clogging” claim, thereby providing a...more
On September 18, 2018, the three federal banking agencies – the Board of Governors of the Federal Reserve System, the Office of the Comptroller of the Currency, and the Federal Deposit Insurance Corporation – jointly...more
On June 19, 2018, in HH Cincinnati Textile L.P. v. Acres Capital Servicing LLC, the Supreme Court of the State of New York refused to issue a preliminary injunction to prevent the foreclosure sale of the equity interests in...more
In its latest effort to combat money laundering within the real estate sector, the Financial Crimes Enforcement Network (“FinCEN”) has issued a new Geographic Targeting Order (“GTO”) broadening its scrutiny of shell companies...more
Choice real estate markets such as New York, Miami, Los Angeles, San Francisco, San Diego, and San Antonio may offer enticing amenities like buzzing nightlife or sunny beaches, but thanks to the Financial Crimes Enforcement...more
8/1/2016
/ Banking Sector ,
Beneficial Owner ,
BSA/AML ,
Cash Transactions ,
Customer Due Diligence (CDD) ,
Data Collection ,
Disclosure Requirements ,
FinCEN ,
Geographic Targeting Order ,
Money Laundering ,
Real Estate Investments ,
Real Estate Market ,
Title Insurance
On January 13, 2016, the Financial Crimes Enforcement Network (“FinCEN”) announced that it had issued a Geographic Targeting Order (“GTO”) which will temporarily require certain title insurance companies to report the...more