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.
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.
By
Matthew J. Schenker and Joshua Kopelowitz
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