Greg Yates Quoted in The Real Deal
“Courtroom Clashes”

New York Bankruptcy partner Greg Yates was quoted in a December 12 article appearing in The Real Deal. The article gave an overview of New York City’s current legal climate in the real estate sector.

According to the article, real estate litigation has changed a great deal since the 2008 crash. The number of residential foreclosure suits across New York State has increased, along with suits under the Interstate Land Sales Full Disclosure Act (ILSA). However, the major trend has been a decrease in real estate litigation and commercial foreclosures.

"In the last few years, there hasn't been the volume of real estate litigation you would expect," noted Greg. "Lenders have not really pushed the borrowers, either to take the property back or to force bankruptcies or other ligation fights. They extend and pretend."