NY Decision Opens Door For Yellowstone Injunction Waivers
By Dani Schwartz ( February 9, 2018, 11:40 AM EST) -- In New York City, the world of commercial landlord/tenant disputes is big business. And in that world, the bedrock of commercial tenant rights is the Yellowstone injunction. What is a Yellowstone injunction? When a landlord believes that a commercial tenant is in default of its lease obligations, the landlord typically will send a default notice to the tenant specifying a brief time frame for the tenant to cure the default (generally between 5 and 30 days). Where the tenant disputes that it is in default, it can go to court and ask for a special injunction — a Yellowstone — that tolls, or freezes, the expiration of the default notice, maintains the status quo between the parties, and prevents the landlord from terminating the lease while the landlord and tenant litigate whether there is, in fact, a default that requires a cure....
Law360 is on it, so you are, too.
A Law360 subscription puts you at the center of fast-moving legal issues, trends and developments so you can act with speed and confidence. Over 200 articles are published daily across more than 60 topics, industries, practice areas and jurisdictions.