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
On Sept. 23, 2020, the New York City Council amended the personal guarantor provisions of Local Law 55 of 2020, which went into effect on May 28, 2020 and was designed to protect businesses affected by Gov. Andrew Cuomo’s...more