Nov 2, 2020

Yellowstone Proceedings and the Pandemic: Do COVID-19 Mandates Frustrate Performance?

For Lease

The legal press is rife with articles and speculation about the defenses of impossibility and/or frustration of performance to lease defaults triggered by state and local mandates prohibiting or limiting access to businesses. A decision released last week addressed that issue. Rame, LLC leased space at 200 Park Avenue from Metropolitan Realty Mgt., Inc. In September 2020, Metropolitan sent Rame a notice of default, alleging that it owed unpaid rent from December 1, 2017 through September 1, 2020 in the amount of $1,863,821.70, and set a deadline of on or before September 14, 2020 to cure the default. Rame sought… Read more