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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).
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Sui Generis: Collaborate Like You Mean It
By Lydia Pilch
Part Three of a Series
This article offers up some thoughts about how lawyers ought to access and manage resources in order to provide a multi-faceted, full-service approach to addressing their clients’ needs.
Court of Appeals Addresses Pretext By Municipalities As A Bar to Land Use Approvals?
By Steven M. Silverberg
Recently, there have been several instances in which municipalities have been challenged by property owners claiming that the municipal boards have utilized delaying tactics and other actions as a pretext to prevent development of their properties.
Court Caps Landlord's Bankruptcy Claim Against Lease Guarantor
By Andrew C. Kassner and Joseph N. Argentina Jr.
Given that landlord damage claims could overwhelm other creditor claims in a tenant’s bankruptcy case, the Bankruptcy Code includes a provision that limits a landlord’s claim, which presents challenges for landlords as creditors in bankruptcy cases.
Due Diligence Commercial Leasing Best Practices In New Jersey
By Zachary Rosenberg
Due diligence for CRE loans involves a comprehensive review and analysis of the various conditions and risks associated with the property being mortgaged, with the goal of mitigating such risks to the greatest possible extent before closing the loan.