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The Changes Continue
February 25, 2021 | Issue No. 21
Partner | Real Estate
Associate | Real Estate

The fluidity of New York’s legal landscape continues to accelerate in the wake of the pandemic. Proposed legislation in New York may disrupt long-established law that commercial landlords do not have a duty to mitigate their damages when a tenant vacates its premises in violation of the terms of its lease. 

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Partner | Real Estate
Associate | Real Estate

During the transition period (between 31 January 2020 when the UK has formally withdrawn from the European Union) to the IP Completion Day, the UK has implemented certain key pieces of legislation to ensure that following its exit from the European Union, the majority of the EU laws which apply in financing transactions in their current form continue to apply, albeit with some changes to the scope and application. In this article, we discuss some of the key changes from a documentary perspective for financing transactions.

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Partner | Real Estate
Associate | Real Estate

Assembly Bill A3139 was introduced by Assembly Member Harvey Epstein on January 22, 2021. The bill is currently in committee but, if enacted, it will amend New York’s Real Property Law and Tax Law to require the recording of mezzanine debt and preferred equity investments and subject it to the mortgage recording tax. These amendments will force borrowers and lenders to reconsider the economic costs of mezzanine financing.

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Partner | Real Estate
Associate | Real Estate

We will present at an upcoming Strafford live video webinar, "Defeasance in Real Estate Finance: Process and Timing, Prepayment and Lockout Provisions," on March 16. 

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Here is a rundown of some of Cadwalader's recent work on behalf of our clients.

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Key Contacts

Steven M. Herman
Partner
T. +1 212 504 6054
steven.herman@cwt.com

 

Duncan Hubbard
Partner
T. +44 (0) 20 7170 8525
duncan.hubbard@cwt.com

Fredric L. Altschuler
Senior Counsel
T. +1 212 504 6525
fredric.altschuler@cwt.com

 

Holly Marcille Chamberlain
Partner
T. +1 704 348 5121
holly.chamberlain@cwt.com

Christopher J. Dickson
Partner
T. +1 704 348 5159
christopher.dickson@cwt.com

 

Melissa C. Hinkle
Partner
T. +1 212 504 6972
melissa.hinkle@cwt.com

Alan W. Lawrence
Partner
T. +1 212 504 6332
alan.lawrence@cwt.com

 

Bonnie A. Neuman
Partner
T. +1 212 504 5625
bonnie.neuman@cwt.com

Matthew Robertson
Partner
T. +1 704 348 5257
matthew.robertson@cwt.com

   
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