New York City enacted Administrative Code Section 22-1005, known as the "Guaranty Law" prohibiting enforcement of personal guaranties supporting commercial leases, in May 2020. The law applies to defaults that occurred...more
A recent court decision in New York found that current market conditions in the real estate market justify delaying noticing mezzanine real estate foreclosures until October 15, 2020. A recent New York Supreme Court Order...more
We’ve all heard the COVID-19 pandemic described as “unprecedented.” Governor Cuomo’s Executive Order 202.8 and its treatment of time limitations (including statutes of limitations), may also be unprecedented....more