An article titled “Violations of SPE Covenants After 2008: Borrowers Beware” was published on Dec. 15 by The New York Law Journal and was written by real estate partner David Djaha and real estate counsel Laurie Nelson (both of New York).
The article details the re-emergence of commercial mortgage-backed securities market following the collapse of 2008 and examines decisions in federal and New York courts that may suggest a new threshold for recourse liability.
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