News & Analysis as of

Financial Distress State and Local Government

Troutman Pepper

How Cannabis Cos. Are Adapting in Shifting Bankruptcy Arena

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Although the possession and sale of cannabis remain federally illegal under the Controlled Substances Act, the U.S. Department of Justice has largely exercised a general policy of nonprosecution for state-regulated cannabis...more

Goodwin

Delaware ABCs (Assignments for the Benefit of Creditors): No Longer as Easy as 1-2-3

Goodwin on

Companies forced to wind down operations and liquidate their assets often choose a liquidation process known as an ABC (Assignment for the Benefit of Creditors). An ABC is usually more streamlined, requires fewer public...more

Sheppard Mullin Richter & Hampton LLP

Update to: A Lifeline Amidst Turbulent Times: California Lawmakers Approve Emergency Loans for Struggling Hospitals

As an update to our previous post, on Monday, May 15, 2023, California Governor Gavin Newsom signed into law Assembly Bill 112 (“AB 112”), which is designed to provide critical relief to qualified struggling hospitals across...more

Tarter Krinsky & Drogin LLP

New York City’s “Guaranty Law” is Held to be Unconstitutional and Unenforceable

In a highly-anticipated decision, Judge Ronnie Abrams of the United States District Court for the Southern District of New York ruled on March 31, 2023, in Melendez v. City of New York, that New York City's Guaranty Law is...more

Buchalter

A Coda to the Covid Pandemic: Do Local and State Closure Laws Provide Cover for Tenant Nonpayment of Rent?

Buchalter on

In what may turn out to be a lesson on the limits of the application of equitable doctrines supporting rent relief in the face of good lease drafting, a California court of appeal panel in San Diego has taken a narrow view on...more

Lewitt Hackman

Protections Under California’s Extended Eviction Moratorium Impact Rent Default Notices Beyond Sept. 30, 2021

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On June 28, 2021 Governor Gavin Newsom signed AB 832, which extended California’s eviction moratorium through September 30, 2021....more

Cadwalader, Wickersham & Taft LLP

Summer's Coming, May 2021 | Issue No. 24 - COVID-19 Update: Governor Cuomo Extends Eviction and Foreclosure Moratorium until...

On May 5, 2021, New York Governor Andrew Cuomo signed a bill that extends the moratorium on evictions and foreclosures for residential tenants and small businesses to August 31, 2021. The previous moratorium expired May 1,...more

Cadwalader, Wickersham & Taft LLP

COVID-19 Update: Governor Cuomo Extends Eviction and Foreclosure Moratorium until August 31

On May 5, 2021, New York Governor Andrew Cuomo signed a bill that extends the moratorium on evictions and foreclosures for residential tenants and small businesses to August 31, 2021. The previous moratorium expired May 1,...more

Cadwalader, Wickersham & Taft LLP

COVID-19 Update: Governor Cuomo Extends Eviction Protections for Small Businesses That Demonstrate a Financial Hardship

In December, New York Governor Andrew Cuomo signed the COVID-19 Emergency Eviction and Foreclosure Prevention Act of 2020, which provided a moratorium on residential eviction and foreclosure proceedings until May 1, 2021....more

Stoel Rives LLP

COVID-19 Update: Stoel Rives Updated Guide to Washington State Eviction Moratoria and Tenant Protections - March 2021

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March 11, 2021 Update - As the pandemic extends into 2021, COVID-related emergency eviction moratoria that were rolled out by a variety of jurisdictions in March of 2020 continue to be updated and refined in response to...more

Schwabe, Williamson & Wyatt PC

Oregon Commercial Rent Relief Program

From the inception of the COVID-19 pandemic, Oregon has sought to avoid a tsunami of evictions of both residential and commercial tenants. The tool employed most frequently is to suspend tenants’ obligation to pay rent. This...more

Brownstein Hyatt Farber Schreck

California Statewide Eviction Moratorium Extension for Residential Tenants: To Forgive or Not to Forgive?

On Jan. 29, 2021, Gov. Newsom signed legislation to extend California’s eviction moratorium through June 30, 2021....more

Cadwalader, Wickersham & Taft LLP

COVID-19 Update: Governor Cuomo Extends Residential Eviction and Foreclosure Moratorium

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

Stoel Rives LLP

Stoel Rives Sixth Updated Guide to Washington State Eviction Moratoria and Tenant Protections

Stoel Rives LLP on

January 5, 2021 Update - As the pandemic extends into 2021, COVID-related emergency eviction moratoria that were rolled out by a variety of jurisdictions in March of 2020, continue to be updated and refined in response to...more

Shutts & Bowen LLP

Checklist for Landlords While Eviction Moratoria Are in Effect in Florida

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Times are challenging for multifamily landlords with nonpaying tenants. Landlords depend on rent to pay taxes, insurance, maintenance, management fees, debt service, and other expenses related to the property. Government...more

Sheppard Mullin Richter & Hampton LLP

Federal Judge Blocks Eviction Moratorium Challenge by Los Angeles Apartment Owners

City of Los Angeles apartment owners recently lost their bid in Federal Court to halt the application of Mayor Eric Garcetti’s eviction moratorium and rent freeze ordinance (the “City Moratorium”). Senior United States...more

Cadwalader, Wickersham & Taft LLP

COVID-19 Update: We’re All in This Together, but Landlords Are About to Take a Bath – SDNY Upholds Constitutionality of NYC’s...

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

Akerman LLP

Illinois Provides Additional COVID Protections Against Residential Evictions

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Since early March, all of Illinois has been under a gubernatorial disaster declaration; but while essential and non-essential business restrictions have waxed and waned per a variety of metrics, there has been an everlasting...more

Cadwalader, Wickersham & Taft LLP

COVID-19 Update: Executive Order Extending Moratorium on Commercial Evictions until January 1, 2021

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

K&L Gates LLP

COVID-19: Washington State Resource for Individuals Dealing with COVID Financial Impacts (Updated #2)

K&L Gates LLP on

This guidebook is designed to serve as an interactive reference for individuals in Washington state looking for information and resources available to help with the financial impacts of COVID-19. It is not legal advice and...more

Polsinelli

Changes to State of California COVID-19 Tenant Relief Act of 2020

Polsinelli on

On August 31, 2020 California Governor Gavin Newsom signed the “COVID-19 Tenant Relief Act of 2020” and the “COVID-19 Small Landlord and Homeowner Relief Act of 2020” (herein, together, the “Act”), which became effective...more

Seyfarth Shaw LLP

Massachusetts Eviction Moratorium Set to Expire on October 17, 2020

Seyfarth Shaw LLP on

We previously reported that on April 20, 2020, the Commonwealth of Massachusetts enacted emergency legislation imposing moratoriums on certain evictions and foreclosures of primarily residential properties and some commercial...more

Sheppard Mullin Richter & Hampton LLP

Residential Eviction Protections and California Consumer Financial Protections Pass Muster During 2020 Legislative Session

During the eleventh hour of the 2020 legislative session, the California Legislature approved 2 significant bills in response to the COVID-19 pandemic with the potential to have far-reaching ramifications for mortgage...more

Morrison & Foerster LLP

New York State Extends Protections For Commercial And Residential Tenants And Mortgagors

On September 18, 2020, New York Governor Andrew Cuomo signed Executive Order 202.64, extending the moratorium on evictions and foreclosure actions against commercial tenants and owners facing financial hardship due to...more

Downs Rachlin Martin PLLC

Vermont Legislative Update Week 2 | Government Affairs

Reopenings: Schools and the General Assembly Get Back to It. Legislative Session 2020 started out like most sequels, with a feeling of déjà vu. It was Groundhog Day with a touch of “I Am Legend” thrown in for atmosphere....more

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