Pasternak Speaks Out on UCC Foreclosures in NYC CRE
July 9, 2024 – Jonathan Pasternak, Partner in the Bankruptcy Law practice was sought after for his insights on the rise in UCC foreclosures in New York City Commercial Real Estate.
Jonathan pointed out that the popularity of Uniform Commercial Code (UCC) foreclosures is just beginning and he believes it is going to be viewed as a new tool for accelerating outcomes of distressed loans.
Jonathan pointed out that “Whether it’s forestalling delay with a bankruptcy, getting an extension or forbearance, or forcing a sale or refinance, it is quite an effective tool. I think you’re going to see more and more of them.”
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