GDB Firm Blog
AUGUST 28, 2019
The common perception is that you cannot get both liquidated damages and also actual damages. A recent case points out that unless the LD's are stated to be the "exclusive remedy," you can probably get both.
GDB Firm Blog
AUGUST 26, 2019
A business customer comes to a bank, opens an account with copies of corporate papers proving incorporation in New York, and deposits a large check payable to the corporation. After an extended hold for a new account, the customer comes back to withdraw substantially all of the funds. The branch manager is suspicious and refers it to the Fraud Department.
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GDB Firm Blog
AUGUST 26, 2019
Effective August 14, 2019, New York law was amended to require holders of loans on abandoned residential cooperative apartments to "pay. cooperative fees as needed to maintain the property." The lender must first jump through required hoops to determine that the unit has been abandoned. The exemption for lenders with small market shares that I discussed in a prior blog continues to apply, so if you are exempt from the prior version of the Zombie Housing Law, you are [probably] exempt fro
GDB Firm Blog
AUGUST 26, 2019
The New York State legislature enacted Chapter 168, of the laws of 2019, effective August 14, 2019, that amends Section 1308 of the Real Property Actions and Proceedings Law to require holders of mortgages or secured loans on abandoned HOA or cooperative properties to pay homeowners' association or cooperative fees "as needed to maintain the property" if they are foreclosing on such abandoned properties.
Speaker: Blackberry, OSS Consultants, & Revenera
Software is complex, which makes threats to the software supply chain more real every day. 64% of organizations have been impacted by a software supply chain attack and 60% of data breaches are due to unpatched software vulnerabilities. In the U.S. alone, cyber losses totaled $10.3 billion in 2022. All of these stats beg the question, “Do you know what’s in your software?
GDB Firm Blog
AUGUST 14, 2019
New York's Zombie Housing Law requires, in general terms, foreclosing mortgagees to maintain and secure 1-4 family residential real estate when the owner has abandoned the property. State or federally chartered banks, thrift institutions and credit unions are exempt if their percentage share of the market falls below thresholds set in the statute.
GDB Firm Blog
AUGUST 5, 2019
The Housing Stability and Tenant Protection Act of 2019, passed this June, limits the amount of lease security that a tenant may be required to deposit to one months' rent. This law effectively bars a Board from requiring a tenant-shareholder to deposit a maintenance guaranty that exceeds one months' maintenance charges. How may a Board obtain financial protections so it can approve a sale of an apartment to a buyer with questionable income?
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