Follow Us

Law.com Subscribers SAVE 30%

Call 855-808-4530 or email [email protected] to receive your discount on a new subscription.

Landlord Tenant Law Regulation

Guaranty Law Invalidated

Consistent with the Second Circuit’s opinion, the District Court in March 2023 found that the Guaranty Law, a pandemic law that was implemented to protect struggling commercial tenants and small businesses, lacked the requisite reasonability to overcome a Contract Clause challenge,

X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

In March 2020, as New York City became the epicenter of the COVID-19 pandemic, Governor Andrew Cuomo issued a number of executive orders, some of which required non-essential businesses to close their doors. As a consequence, many commercial businesses began defaulting on rent payments or attempting to terminate their leases altogether, to potentially catastrophic effect for landlords, who rely on rent payments to cover expenses (e.g., taxes and debt service).

This premium content is locked for New York Real Estate Law Reporter subscribers only

Continue reading by getting
started with a subscription.

ENJOY UNLIMITED ACCESS TO THE SINGLE SOURCE OF OBJECTIVE LEGAL ANALYSIS, PRACTICAL INSIGHTS, AND NEWS IN REAL ESTATE PRACTICE IN NEW YORK.
  • Stay current on the latest information, rulings, regulations, and trends
  • Includes practical analysis of significant real estate cases in New York
  • Tap into expert guidance from top real estate lawyers and experts

SUBSCRIBE NOW

Subscribe Now For Unlimited Access

Read These Next