Undertaking Required for Yellowstone Injunction is to Compensate Landlord if Injunction Improvidently Granted, Not to Cure All Alleged Breaches
Commercial Case Notes / Injunctions, Attachments and Other Preliminary Remedies / Real Property

Undertaking Required for Yellowstone Injunction is to Compensate Landlord if Injunction Improvidently Granted, Not to Cure All Alleged Breaches

On March 8, 2023, Justice Chan of the New York County Commercial Division issued a decision in 1516 Roof LLC v. 469 Holdings, LLC, 2023 NY Slip Op. 30694(U), holding that the undertaking required for a Yellowstone injunction is to compensate the landlord if the injunction was improvidently granted, not to cure all alleged breaches . . . Continue reading Undertaking Required for Yellowstone Injunction is to Compensate Landlord if Injunction Improvidently Granted, Not to Cure All Alleged Breaches

Foreclosure Action Plaintiff Allowed to Prove Possession of the Note by Submitting Copy of PSA and Mortgage Loan Schedule
Commercial Case Notes / Real Property

Foreclosure Action Plaintiff Allowed to Prove Possession of the Note by Submitting Copy of PSA and Mortgage Loan Schedule

On February 22, 2023, the Second Department issued a decision in Bank of N.Y. Mellon v. Selig, 2023 NY Slip Op. 00979, holding that a foreclosure action plaintiff was allowed to prove possession of the note by submitting a copy of the PSA and accompanying mortgage loan schedule . . . Continue reading Foreclosure Action Plaintiff Allowed to Prove Possession of the Note by Submitting Copy of PSA and Mortgage Loan Schedule

Governor’s Covid Tolling Orders Did Not Affect Time to Cure Breach of Commercial Lease
Commercial Case Notes / Real Property / Statute of Limitation/Laches

Governor’s Covid Tolling Orders Did Not Affect Time to Cure Breach of Commercial Lease

On February 22, 2023, the Second Department issued a decision in Prestige Deli & Grill Corp. v. PLG Bedford Holdings, LLC, 2023 NY Slip Op. 01019, holding that the Governor’s Covid tolling orders did not affect the time to cure a breach of a commercial lease . . . Continue reading Governor’s Covid Tolling Orders Did Not Affect Time to Cure Breach of Commercial Lease

Under Merger Doctrine, Transfer of Deed Extinguished Breach of Contract Claim
Commercial Case Notes / Contracts / Real Property

Under Merger Doctrine, Transfer of Deed Extinguished Breach of Contract Claim

On February 15, 2023, the Second Department issued a decision in R. Vig Props., LLC v. Rahimzada, 2023 NY Slip Op. 00887, holding that in a real estate sales transaction, “once the deed is delivered, its terms are all that survive and the purchaser is barred from prosecuting any claims arising out of the contract” . . . Continue reading Under Merger Doctrine, Transfer of Deed Extinguished Breach of Contract Claim

Plaintiff Denied Summary Judgment on Foreclosure Claim Due to Failure to Show Possession of Note and Properly-Affixed Allonge’s
Commercial Case Notes / Real Property / Standing

Plaintiff Denied Summary Judgment on Foreclosure Claim Due to Failure to Show Possession of Note and Properly-Affixed Allonge’s

On February 1, 2023, the Second Department issued a decision in US Bank N.A. v. Okoye-Oyibo, 2023 NY Slip Op. 00457, denying summary judgment of foreclosure because of the failure to prove possession of the note and properly-affixed allonges . . . Continue reading Plaintiff Denied Summary Judgment on Foreclosure Claim Due to Failure to Show Possession of Note and Properly-Affixed Allonge’s