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A Yellowstone injunction proceeding — named after the Queens, NY, case, First National Stores Inc. v. Yellowstone Shopping Center Inc., 21 N.Y.2d 630 (1968) — is a proceeding in New York court in which a commercial tenant seeks to enjoin the landlord from evicting the tenant for an alleged breach of the lease. This temporary relief preserves the tenant’s ability to cure should the court determine that the tenant is in breach, and thus avoid forfeiting its substantial investment in the leasehold. See Zaid Theatre v. Sona Realty Co., 18 A.D.3d 352, 355 (1st Dep’t 2005); Marathon Outdoor v. Patent Constr. Sys. Div. of Harsco, 306 A.D.2d 254, 255 (2d Dep’t 2003). As with any other injunction, the tenant normally will be required to post an injunction bond if its application is granted. New York Civil Practice Law and Rules § 6312(b)(2). See Barsyl Supermarkets v. Ave. P. Assocs., 86 A.D.3d 545, 546 (2d Dep’t 2011).
By Joseph I. Farca
Why Commercial Fraud Claims Sometimes Fail, and the Importance of Due Diligence
If a court decision called you “sophisticated,” it was probably not intended as a compliment, but instead signaled the death knell of your fraud claim.
By Missy McCoy
There is no uniform approach relating to management fee provisions in leases, and courts will recognize inequities in the charging and payment of management fees when lease terms are ambiguous or a landlord or tenant fails to comply with the terms of its lease.
By Kelsi Maree Borland
There is a frenzy of excitement about the prospect of opportunity zone investments, but a number of investors are also considering becoming sponsors of the new fund model. While organizing a fund may seem simple, especially for experienced real estate sponsors, the opportunity zone model is actually complex.
Contractual Allocation of Damage Risk Thwarts Insurer’s Subrogation Claim
Lacking Specifics, Lease Term Is Unenforceable