By Adam Leitman Bailey… Judgments of foreclosure and sale granted in favor of lenders are being reversed. This article highlights the underdiscussed expanded burden now imposed by the Second Department that lenders must satisfy to successfully foreclose on a defaulted loan. Many foreclosure proceedings already at the judgment stage are being unwound for the proofs Full Article…
Viewing 1 to 8 of 11 items
Adam Leitman Bailey, P.C. Revives a Time-Barred Mortgage Loan on Appeal
Adam Leitman Bailey, P.C. was retained by the note owner to salvage a 2007 foreclosure action that was dismissed pursuant to CPLR § 3216 for the Plaintiff’s prior counsel’s alleged failure to prosecute. By virtue of the CPLR § 3216 dismissal, foreclosure of the loan was then time-barred by the statute of limitations, and the Full Article…
Adam Leitman Bailey P.C. Appellate Victory: Successor Sponsors No Longer Responsible for Repairing Building
Adam Leitman Bailey P.C. successfully defends purchasers of units in a condominium following the original sponsor’s bankruptcy against claims of individual units owners for breach of contract The original sponsor of a condominium conversion declared bankruptcy after it was sued by individual unit owners for design and construction defects. In the bankruptcy proceeding, the firm’s Full Article…
New Rules of Substantial Rehabilitation to Remove Units from Rent Regulation
By Adam Leitman Bailey and Dov Treiman December 11, 2018 In their Real Estate Trends column, Adam Leitman Bailey and Dov Treiman discuss a pair of new decisions from the Appellate Term, First Department which have toughened the standards under which a landlord may claim a substantial rehabilitation exemption from rent stabilization, the effect of Full Article…
The State of the Business Judgment Rule Appellate Court Rulings By Adam Leitman Bailey
By Adam Leitman Bailey 2016 February Law & Legislation The greatest changes in cooperative and condominium law this past year did not come from the legislature or from the courts but from the New York Attorney General’s office (NYAG). This article will review some of those changes and the most significant appellate cases affecting cooperatives Full Article…
Adam Leitman Bailey, P.C. Prevails as Second Circuit Upholds Title of Developer That Acquired Property Sold in H.U.D. Auction
Second Circuit Affirms Ruling Where Foreclosure Is Limited to Bidders to Governmental Entities, Local housing fund development corporations (HFDCs) and Lien holders. The U.S Court of Appeals for the Second Circuit upheld the right of a municipal/private development partnership to acquire a low-income apartment complex from the U.S. Department of Housing and Urban Development (HUD) Full Article…
Adam Leitman Bailey, P.C. Wins Landmark Case and Makes New Law in Unsealing Court Settlements
A unanimous panel of the Appellate Division, First Department, upheld a lower court’s decision to unseal settlement documents stemming from the 2008 collapse of a construction crane that killed seven people. The panel ruled in Squeri v. East 51st Street Development, 117452/08, that Manhattan Justice Carol Edmead properly exercised her discretion when she unsealed the documents Full Article…
Court Ruling Makes Some Evictions Easier
By JAY ROMANO A decision by a New York appeals court has resulted in a major change in how eviction cases involving tenants in illegal apartments are handled in Brooklyn, Queens and Staten Island. The decision, binding on lower courts in those boroughs, allows landlords to use Housing Court — rather than the state’s trial Full Article…
Twitter