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What powers does the New York City Landmarks Preservation Commission (LPC) have to require a building owner to maintain a mechanical clock located in the interior of a building? In Save America’s Clocks, Inc. v. City of New York, 2017 WL 5969265, that issue generated a 3-2 division in New York’s Appellate Division, First Department, with the majority holding that the Commission had power to require maintenance of the clock, and to require public access to it.
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Legal Office of the Future — Reimagined
By Bella Schiro and Misun Yoon
Many in the legal economy may be asking themselves whether they need office space at all now that everyone has been forcibly migrated to cyberspace. But having experienced work from home for several months, there is a newfound appreciation for the office workplace. But what will the office look like when we return to it?
Cash Flows for Commercial Leases During COVID-19
By Jonathan Koevary and Robert Gagne
To say the least, for those companies that filed for bankruptcy on the eve of the COVID-19 shutdowns, the strategies — and available cash flows to pay landlords — did not go as planned.
Mezzanine Lenders and Foreclosure Sales During COVID-19
By Jeffrey B. Steiner and Scott A. Weinberg
This article reviews a recent case, D2 Mark LLC v. OREI VI Investments LLC, to understand how the court’s decision may provide mezzanine lenders with guidance in structuring a UCC foreclosure sale auction in the COVID-19 landscape so as to strengthen their position against any claims by the mezzanine borrower that the sale is not commercially reasonable.
Will Pandemic Lead to More SARE Filings?
By Lidia Dinkova
Single-asset real estate bankruptcies (SAREs) are streamlined reorganizations for debt taken out by borrowers on just one property, giving them a three-month window to propose a restructuring plan.
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