Landlords and secured lenders (i.e., lenders with a security interest in tenant’s personal property as collateral for a large loan) should remember to consider underlying applicable state law governing removal of a defaulted tenant’s property when negotiating landlord waivers or collateral access agreements. Competing interests are at play between landlords and secured lenders when it … Continue Reading
In a recent decision, the New York Court of Appeals held that a NYC proprietor could operate a restaurant on city-owned parkland located in Union Square notwithstanding the so called “public trust doctrine”. The restaurant will replace long-time neighborhood favorite Luna Park, which closed in 2007 at the time of a citywide park renovation initiative. … Continue Reading
