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During the COVID-19 pandemic, New York State courts have granted a number of preliminary injunctions enjoining UCC foreclosures for a period of time. For example, in
D2 Mark LLC vs. Orei VI Investments LLC and
Shelbourne BRF LLC, Shelbourne 677 LLC v. SR 677 BWAY LLC, the courts found that elements of the UCC foreclosures were not commercially reasonable as a result of the pandemic and temporarily prevented the UCC foreclosures.
1 However, not all borrowers have had the same success with preliminary injunctions. In
893 4th Avenue Lofts LLC vs. 5AIF Nutmeg, LLC, 893 4th Avenue Lofts LLC was the borrower (the “
New-yorkUnited-statesState-of-new-yorkMichael-uhrAif-nutmegOrei-vi-investmentsAvenue-loftsArch-funding-corpWickersham-taftMark-hotelNew-york-stateUniform-commercial-code