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In The Trustees of Columbia University in the City of New York v. D’Agostino Supermarkets, the New York Court of Appeals unanimously reaffirmed the principle that “parties are free to agree to a liquidated damages clause provided that the clause is neither unconscionable nor contrary to public policy.” However, the judges split 4-3 on the issue of whether the relevant damages clause in a commercial lease was unenforceable as a matter of law because it was so grossly disproportionate to the ascertainable amount due upon full performance.
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Drafting a Fair Force Majeure Provision In the Wake of COVID-19
By Scott R. Lippert and Darcy Baboulis-Gyscek
Only a handful cases have addressed force majeure clauses in commercial real estate agreements in the wake of the pandemic, which has produced conflicting views as to whether performance was excused.
Retail Lease Workout Trends Show ‘We’re All In This Together’
By David Samole
There have been plenty of cases during the pandemic that shape the landlord-commercial tenant dynamic both in Chapter 11 bankruptcies and in workouts.
New Normal Will See Shift In How Commercial Real Estate Is Done
By Aron Solomon
By moving away from demand for traditional offices and office space, employers will be able to select from a much broader range of talent and a much greater geographical range of places to find and use these employees.
Underwriting Adjusts As Pandemic Continues
By Erika Morphy
Underwriting clearly has been affected by the pandemic-led downturn. Lenders are using higher vacancies and reserves to underwrite, leading to more conservative loan proceeds.
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