Historically, “Act of God” was defined to encompass sickness, but the concept has evolved, and it is unclear whether, in the absence of an express reference to epidemics in a force majeure clause, courts will find COVID-19 to be an Act of God. In “Tour de Force: What Constitutes an…
Over the past few months, construction projects in most states have carried on because construction was deemed essential and projects were exempted from government orders that closed businesses. In the jurisdictions that halted construction operations, state and local authorities are now easing those restrictions and allowing construction to resume. In…
A recent court order issued as part of an ongoing litigation involving a Manhattan hotel held that a mezzanine lender may proceed with a UCC foreclosure sale of the mezzanine loan collateral despite N.Y.E.O. 202.8, which prevents creditors from initiating judicial foreclosures. In “Distressed Real Estate During COVID-19: New York…