Features
Will Pandemic Lead to More SARE Filings?
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.
Features
New York Court Allows J.Crew to Shutter Under Terms of Mall Lease Despite Continuous Operations Provision
Malls across America, long suffering even before the rise of COVID-19, are now forced to confront a wave of store closures. Troubled retailers will, without doubt, seek to close their failing mall locations. To stem these efforts, landlords have applied to courts for injunctive relief to force stores to remain open and operating, despite lagging sales, through the enforcement of the "continuous operations provision" found in mall leases.
Columns & Departments
Real Property Law
Insufficient Hostility to Establish Title By Adverse Possession or Prescriptive Easement Adverse Possession Claim Against Governmental Land Upheld When Land Not Held for Governmental Purposes No Preliminary Injunction in Action to Declare Sale Contract Void
Features
New York Court Allows J.Crew to Shutter Under Terms of Mall Lease Despite Continuous Operations Provision
Malls across America, long suffering even before the rise of COVID-19, are now forced to confront a wave of store closures. Troubled retailers will, without doubt, seek to close their failing mall locations. To stem these efforts, landlords have applied to courts for injunctive relief to force stores to remain open and operating, despite lagging sales, through the enforcement of the "continuous operations provision" found in mall leases.
Columns & Departments
Development
Despite Proximity, Neighbor Lacked Standing to Challenge Alleged Zoning Violation Neighbors Entitled to Remedy Against Landowner's SLAPP Suit Area Variance Denial Overturned
Columns & Departments
Eminent Domain Law
Condemnation Upheld Despite Benefit to Private Party
Features
Real Estate Loan Workout: Exchange of Enhancements for Concessions
As a result of the coronavirus pandemic, a property owner might reach out to its lender for urgent, needed debt relief. The lender, which strives for a performing asset, an on-going relationship with its customer makes concessions. In exchange for these concessions, the lender should obtain credit and legal enhancements., which should also enable the lender to make concessions that are more meaningful to the property owner, its investors, its tenants and its business.
Columns & Departments
Co-ops and Condominiums
Sponsor Correctly Calculated Reserve Fund Shareholder Did Not Breach Survival of Closing Affidavit
Features
Law Firm Leasing Drops During COVID-19
Overall, the pandemic will likely result in long-term changes for law firm offices. While law firm leasing activity will eventually pick up, firms may decrease their overall footprints, taking up 10% to 15% less square footage because some people will continue working from home.
Columns & Departments
Landlord & Tenant Law
Lease Provision Does Not Bar Conversion Claim for Damages After Issuance of Warrant of Eviction
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