On June 23, the New York County Supreme Court issued a rare preliminary injunction temporarily halting a mezzanine lender’s UCC foreclosure sale of the Mark Hotel in New York City because the procedures for the foreclosure...more
7/9/2020
/ Borrowers ,
Commercial Property Owners ,
Coronavirus/COVID-19 ,
Executive Orders ,
Foreclosure ,
Foreclosure Sales ,
Governor Cuomo ,
Irreparable Harm ,
Lenders ,
Mezzanine Lenders ,
Moratorium ,
Preliminary Injunctions ,
Uniform Commercial Code (UCC)
On June 15, the Federal Reserve Board released proposed term sheets to expand the Main Street Lending Program to nonprofit entities in sound financial condition before the onset of the COVID-19 pandemic. The announcement...more
As the coronavirus pandemic upends the economy, the financial health of the leveraged loan market has been impacted. The long-term effect of the pandemic on the leveraged loan market will depend on inherent market risks, the...more
In a very short period of time, private equity groups and their portfolio companies have had to deal with an unprecedented amount of change in response to the novel coronavirus (COVID-19) crisis....more
The Board of Governors of the Federal Reserve System (FRB) and certain other federal agencies issued an interagency statement on loan modifications and past-due loan policies in the wake of the economic disruption caused by...more