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New York State Supreme Court Decision Continues Uncertainty as to Enforceability of Dual Collateral Real Estate Loans

Historically, New York has adopted the doctrine “against clogging” a borrower’s equitable right of redemption in mortgaged real property (the “Doctrine”). The Doctrine originated in English courts of equity to protect borrowers against forfeiture of their real estate when the mortgage contained language granting irrevocable title to the mortgagee upon the most minor default. The Doctrine denied lenders specific performance of such provisions and thus protected the borrower’s equitable right of redemption to buy back the property (in modern terms, the right to rescue the property from foreclosure by paying the indebtedness).

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Data Center Investment Trends


Time to Read: 1 minutes Practices: Real Estate Investments & Transactions, Data, Privacy & Cybersecurity

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Our global infrastructure is struggling to cope with the pace with which our society is creating, consuming and sharing data. With the rapid growth in the number of connected devices and the increased demand for technologies and services such as the ‘cloud’, smart devices, 5G, blockchain and AI, there is a race to build more data centers and make existing infrastructure more efficient to cope with this global phenomenon.

This message featured heavily in the various panel discussions at both the Datacloud Global Congress in Monaco and the Private Equity Real Estate (PERE) conference in London — both of which Ropes & Gray attended recently. In this Alert, we set out a brief summary of the key investment trends driving the development of this asset class and predictions for the remainder of 2019 and beyond.

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