Commercial Division Dismisses Commercial Tenant's Complaint Seeking to Rescind or Terminate Lease and Avoid Rent Obligations | Patterson Belknap Webb & Tyler LLP
Recently, in Valentino U.S.A., Inc. v. 693 Fifth Owner LLC, Justice Andrew Borrok of the New York County Commercial Division dismissed a complaint brought by Valentino U.S.A., Inc. (“Valentino” or “Tenant”), which sought to rescind or terminate the commercial lease for its Manhattan luxury fashion store and to avoid its rent obligation.[1] Like many landlord-tenant disputes currently pending or recently decided in light of the COVID-19 Pandemic, this case involved the common law doctrines of frustration of purpose and impossibility. The Commercial Division held that neither doctr...
Source: jdsupra.com