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The Guaranty Law Continues to Divide Opinion

This article discusses the recent developments surrounding the constitutionality of the Guaranty Law. In particular, we address the Southern District's view that the statute is unconstitutional and the splintered view of the statute's constitutionality expressed by New York State courts.

6 minute read April 01, 2024 at 12:11 AM
By
Matthew J. Schenker and Joshua Kopelowitz
The Guaranty Law Continues to Divide Opinion

In our article in the October 2022 issue, we discussed NYC Administrative Code §22-1005 (the Guaranty Law), which, under certain conditions, cancelled the obligations of guarantors of commercial leases. This article discusses the recent developments surrounding the constitutionality of the statute.

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