August, 2019

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Can You Get Liquidated Damages and Also Actual Damages On Account Of Delay?

GDB Firm Blog

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.

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Scams, Scams and More Scams

GDB Firm Blog

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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Zombie Coop Units Get Some Protections Applicable To Zombie Houses

GDB Firm Blog

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

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Foreclosing Lenders Are Now Required To Pay HOA Or Coop Fees On Abandoned "Zombie" Properties

GDB Firm Blog

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.

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Software Composition Analysis: The New Armor for Your Cybersecurity

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?

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Don't Forget Your Annual Zombie Housing Law Exemption Filing?

GDB Firm Blog

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.

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Why Should I Worry About The European Union's General Data Protection Regulation (GDPR)?

GDB Firm Blog

The GDPR is a regulation of the European Union that seeks to put control over the personal data of EU residents in their own hands, rather than in the hands of the entity that collected or stored the data. Under Article 3(2) of GDPR, the Regulation covers non-EU companies when the processing of the data relates to offering of goods or services to people in the EU.

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