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New York courts have applied the common law doctrines of Impossibility of Performance and Frustration of Purpose narrowly and strictly and only in limited circumstances when raised by commercial tenants who refused to pay...more
The Sixth Circuit Court of Appeals in its recent decision in Town Center Flats, LLC v. ECP Commercial II LLC (In re Town Center Flats LLC), Case No. 16-1812 (6th Cir. May 2, 2017), reinforces an option that commercial lenders...more