New York City Council Proposes Extensive Protections for Commercial Lease Guarantors

Building on existing New York State protections, the New York City Council has passed a bill providing protections for individuals who have guaranteed leases for premises affected by COVID-19. In “New York City Council Proposes Extensive Protections for Commercial Lease Guarantors,” colleagues Andrew J. Weiner and Adam J. Weaver discuss that the proposed legislation would make personal guaranties temporarily unenforceable if certain conditions related to the COVID-19 pandemic are satisfied, but the scope of the relief is not clearly defined.