In the wake of the FDIC bank shutdown actions taken last month, we have written about cash management arrangements, account naming conventions, financial covenants and rating requirements in typical commercial real estate...more
In our prior three articles, we discussed the potential impact of the recent bank shutdowns on cash management arrangements and guarantor financial covenants in commercial real estate lending. The issues we identified could...more
Breaking up is hard to do... …or so they say.
And with a bank in receivership, it’s even harder. In the immediate wake of the Signature Bank takeover, commercial real estate lenders undertook swift inventory of their loan...more
A decision yesterday by the New York Supreme Court has paved the way for mezzanine lenders to proceed with UCC foreclosure sales in New York City during the pandemic. Yesterday afternoon, Justice Frank Nervo issued an order...more
5/19/2020
/ Borrowers ,
Commercial Property Owners ,
Coronavirus/COVID-19 ,
Executive Orders ,
Exemptions ,
Foreclosure ,
Foreclosure Sales ,
Governor Cuomo ,
Lenders ,
Mezzanine Lenders ,
Moratorium ,
Non-Judicial Foreclosures ,
Preliminary Injunctions ,
Uniform Commercial Code (UCC) ,
Vacated
As a follow up to our OnPoint from last week, Mezzanine Foreclosures in the Time of Coronavirus, regarding a New York County Supreme Court’s halting of a mezzanine UCC foreclosure sale, here is our promised update. ...more
5/14/2020
/ Borrowers ,
Default ,
Equity Transactions ,
Executive Orders ,
Foreclosure ,
Governor Cuomo ,
Lenders ,
Mezzanine Lenders ,
Moratorium ,
Sale of Assets ,
Uniform Commercial Code (UCC)