A recent New York County Supreme Court decision has temporarily halted a mezzanine UCC foreclosure sale by granting the borrower’s request for a stay based on allegations that the terms of the mezzanine foreclosure were not...more
5/10/2020
/ Appeals ,
Commercial Property Owners ,
Coronavirus/COVID-19 ,
Court Schedules ,
Executive Orders ,
Foreclosure ,
Foreclosure Sales ,
Governor Cuomo ,
Mezzanine Lenders ,
Moratorium ,
Motion To Stay ,
Non-Judicial Foreclosures ,
Preliminary Hearings ,
TRO
Key Takeaways
- The CARES Act did not explicitly or implicitly give private plaintiffs a right to sue lenders for supposed violations of that statute.
- The Small Business Administration has primary responsibility for...more
4/20/2020
/ Appeals ,
Applicants ,
Bank of America ,
Banks ,
CARES Act ,
Coronavirus/COVID-19 ,
Eligibility ,
Federal Loans ,
Lenders ,
Paycheck Protection Program (PPP) ,
Preliminary Injunctions ,
Private Right of Action ,
Putative Class Actions ,
SBA ,
Standing
In a 2-1 opinion, the Second Circuit overruled the district court in Marblegate Asset Management LLC v. Education Management Corp., finding no violation of the Trust Indenture Act (“TIA”) in connection with an out-of-court...more
1/28/2017
/ Appeals ,
Bonds ,
Commercial Bankruptcy ,
Corporate Restructuring ,
Creditors ,
Debt Restructuring ,
Fraudulent Conveyance ,
Lenders ,
Payment Terms ,
Section 316(b) ,
Secured Notes ,
Senior Indenture ,
Trust Indenture Act ,
Vacated