In a recent case, 513 West 26th Realty LLC v. George Billis Galleries Inc., a New York Supreme Court addressed whether the COVID-era personal guaranty relief statute (the Guaranty Law) violated the Contracts Clause of the...more
When commercial landlords negotiate leases with prospective tenants, they understandably focus on key commercial terms, such as rental rate and renewal options. While that focus is justified, landlords should never overlook...more
Exercising break clauses in commercial leases can often prove to be a legal minefield for any tenant (and, in some cases, a landlord) seeking to do so. Strict adherence to any conditions and notice requirements for the...more
As the new year approaches, entrepreneurs across Virginia are gearing up to take their ventures to the next level and turn plans into reality. For many, the first crucial step in this journey involves securing a commercial...more
Last summer, we wrote about New York City Administrative Code Section 22-1005, known as the Guaranty Law. This was a pandemic-era prohibition on enforcement of personal guaranties supporting commercial leases for defaults...more
The saga continues now that a federal district court judge has ruled that N.Y.C. Local L. No. 55 of 2020 (also known as the Guaranty Law) is unconstitutional. The Guaranty Law, which sought to provide immediate monetary...more
In a highly-anticipated decision, Judge Ronnie Abrams of the United States District Court for the Southern District of New York ruled on March 31, 2023, in Melendez v. City of New York, that New York City's Guaranty Law is...more
For those interested in knowing whether the New York City “Guaranty Law,” which was enacted by the City Council in May 2020 in the wake of the COVID-19 pandemic, will survive a challenge to its constitutionality, the wait...more
The United States District Court for the Southern District of New York recently found that three laws enacted by the City of New York in response to the COVID-19 pandemic were constitutional, and dismissed a challenge to the...more
This 18th edition of Unprecedented, our weekly update on COVID-19-related litigation, sees us return to what, even in these early days of the pandemic, must be considered as some of the hottest topics. Thus, we discuss new...more