Because of Coronavirus-Related Market Turmoil, Court Finds UCC Foreclosure “Commercially Unreasonable”

A recent court decision in New York found that current market conditions in the real estate market justify delaying noticing mezzanine real estate foreclosures until October 15, 2020. In “Distressed Real Estate During COVID-19: Court Finds UCC Foreclosure “Commercially Unreasonable” Because of Coronavirus-Related Market Turmoil“, colleagues Caroline A. Harcourt, Patrick E. Fitzmaurice and Russell DaSilva discuss a recent New York Supreme Court Order.