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Development
June 30, 2004
Recent cases you need to know.
The Powerful Impact of the Non-Foreclosure Notice of Pendency
June 30, 2004
RPAPL ' 1331 and RPAPL ' 1403 Notices of Pendency are requisite elements for foreclosing a mortgage. <i>See, Chiarelli v. Kotsifos</i>, 5 A.D.3d 345 (a notice of pendency is a prerequisite to obtaining a judgment in a mortgage foreclosure action); <i>Campbell v. Smith</i>, 309 A.D.2d 581, 582 (a notice of pendency is required in a foreclosure action under RPAPL Article 13). In contrast, an <i>ex parte</i> CPLR Article 65 Notice of Pendency (the "Notice") is not required but it is a significant tool in an action claiming title to, or an interest in or the use or enjoyment of, another's land. The filer does not have to make a meritorious showing or post a bond. Article 65 provides mechanisms for the defendant-owner to vacate the Notice that caused an unilaterally imposed restraint on its realty. But, recent case law establishes the near futility of such efforts if the plaintiff has satisfied the minimal statutory requisites for filing the Notice.
Cooperatives & Condominiums
June 30, 2004
Recent rulings of importance to you and your practice.
Index
June 30, 2004
A list of everything contained in this issue, for your easy access.
Landlord & Tenant
June 30, 2004
Important rulings you need to know.
Debtor Misconduct and Administrative Rejection Claims
June 30, 2004
Can a debtor's conduct give rise to an administrative rejection claim? The answer to this question was set forth in a memorandum opinion issued by U.S. Bankruptcy Judge Mary F. Walrath on March 31 in <i>The Matter Fleming Cos. Inc., et al., debtors,</i> Case No. 03-10945.
In The Marketplace
June 30, 2004
Highlights of the latest equipment leasing news from around the country.
The New World Order: Lessors Must Refocus
June 30, 2004
Over the last year, it has become obvious that there must be a fundamental shift in the way large-ticket leasing companies look at their tax shelter businesses. This article will examine what has brought about this shift and how lessors will find ways to cope with it.
Ford Motor Credit Reaches Settlement with States over Leasing Practices
June 30, 2004
The office of the Michigan Attorney General has announced that it has reached a multistate settlement with Ford Motor Credit regarding its leasing practices. This settlement will affect more than 150,000 Ford customers and bring $485,500 to the state of Michigan in legal fees and costs.
What You Need to Know about Preferences: Practical Considerations for Lessors
June 30, 2004
One of the most difficult conversations a bankruptcy lawyer can have with a client is explaining why it has been sued for the recovery of money received pre-petition from a debtor for services rendered or goods supplied. We often hear the same incredulous mantras: "But the [debtor] owed me the money ... for a long time." "We helped stave off bankruptcy because we extended the payment terms." Often these comments are made to the trustee or debtor who commenced the preference suit, before the creditor consults its attorney. The client believes the suit is a big misunderstanding because the payments it received were on account of a real debt and does not understand the admissions contained in its statements.

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