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Part Four of a Five-Part Series
The wreckage of a failed retail business often includes the tenant's personal property that remains in the leased space. Critical to evaluating what to do with this personal property is understanding the nature of that property and determining who has rights to it.
As some retail tenants face failing businesses — or worse, they have already shuttered their stores — shopping center owners and managers must deal with the aftermath. The wreckage of a failed retail business often includes the tenant’s personal property that remains in the leased space. Some retail tenants offer this personal property to the shopping center owner in negotiation of full or partial satisfaction of past and future rental and early termination of the lease. Other tenants simply turn off the lights, leave their furniture and equipment in the premises, and disappear. Critical to evaluating what to do with the personal property left in vacant leased premises is understanding the nature of that property and determining who has rights to it.
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Sui Generis: Negotiate Like You Mean It
By Lydia Pilch
As further follow-up regarding tracking of the lifecycle of a commercial lease, Part Two of this series addresses various negotiation events, strategies, desired outcomes and potentially low key disasters.
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This article discusses the recent developments surrounding the constitutionality of New York's Guaranty Law. In particular, we address the Southern District’s view that the statute is unconstitutional and the splintered view of the statute’s constitutionality expressed by New York State courts.
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By Massimo F. D’Angelo and Gregory Wong
In New York state and local court cases, there is a seldom-used procedural mechanism for obtaining an expedited money judgment against a guarantor. This article provides an overview of CPLR 3213 motions, an update on the resolution of the split that previously existed between the New York State Supreme Court, Appellate Division, First and Second Departments, and practical guidance for transactional counsel drafting commercial leases and guaranties.
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