Adam Leitman Bailey, P.C. was retained by a title company to represent a lender in a shareholder derivative action which was commenced by a limited partner, individually and on behalf of the partnership, alleging that the general partners were using the partnership as their own personal piggy bank taking out millions of dollar in unauthorized Full Article…
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Adam Leitman Bailey, P.C. Wins Money Judgments in Supreme Court in Two Cases Defeating Commercial Tenants and Guarantors’ Efforts to File Late Answers
Representing two Manhattan commercial landlords, Adam Leitman Bailey, P.C. prevailed in two Supreme Court plenary actions, winning money judgments against commercial tenants and guarantors. In each case, the client entered into a commercial lease to rent a retail store in Manhattan. The lease was guaranteed by a personal good guy guaranty. Each tenant defaulted and Full Article…
Swift Resolution for a Wronged Client in Brooklyn Condo Sale
In a complex real estate market like Brooklyn, the sale of a condominium often involves substantial sums of money and requires careful legal oversight. Unfortunately, our client faced an unexpected and distressing situation when their attorney failed to remit their proceeds from the sale of their condo. Despite numerous calls and emails, the client did Full Article…
Adam Leitman Bailey, P.C. Defeats a Yellowstone Application and Obtains Sanction Against Recalcitrant Commercial Condominium Unit Owner
Although the owner of a unit in a commercial condominium was aware of the prohibition against parking on the premises, and her proprietary lease did not permit same, she parked four cars on her premises for many years. When the Board of Directors enacted new house rules reaffirming that no unit owner had parking rights, Full Article…
Winning a Loft Law Case: The Long Winding Road to Weaponing the Loft Law and Rent Stabilization Code to Finally Prevailing at Appellate Division
I previously represented a long-term resident of a Tribeca apartment in the successful appeal of a CPLR Article 78 determination permitting the building’s owner to remove the building’s only elevator from service. While the building was formerly used for manufacturing purposes, as of the 1970s, the building was residentially occupied. My client was one of Full Article…
Adam Leitman Bailey, P.C. Defeats Motion to Vacate Note of Issue That was Filed One Day Too Late
In a highly irregular and favorable decision, Adam Leitman Bailey, P.C. defeated a motion to vacate Note of Issue by Defendant in a landlord-tenant lawsuit arguing that it was filed one day after the statutory deadline to file a motion had expired. Under New York’s Uniform Rules for the Supreme Court governing civil lawsuits, litigants Full Article…
What Every Cooperative Must Know About Internal Revenue Code Section 216 (26 U.S.C. § 216)
Section 216 of the Internal Revenue Code concerns cooperative housing corporations and their tenant-shareholders. A cooperative housing corporation is a corporation with one class of outstanding stock and tenant shareholders that purchase ownership of stock in the corporation are entitled to occupy a house or unit in a building owned by the corporation for dwelling Full Article…
Managing the Ladder: An Overview of Modern Equitable Subrogation
As a follow-up to their previous article published almost 15 years ago, authors Adam Leitman Bailey and Dov Treiman discuss the law of equitable subrogation including many of the possible consequences from this doctrine in foreclosure practice. Almost 15 years ago, we authored “Split Between Departments Muddies Subrogation Doctrine” on this very page and this Full Article…
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