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Proposed Brokaw Act Would Affect Change-of-Control Triggers in Indentures
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Land Use partner Michael T. Sillerman was quoted in an article appearing in The Guardian about the "subletting bill," which aims to make it illegal to rent an apartment in New York City for less than 30 days. The motive behind the bill is to crack down on illegal hotels, which can create noise and security issues for residents, as well as deplete the amount of available housing. Sillerman was quoted as saying that "We are in a are of mixed use..." and that "The aim of the this law is to bring clarity to a very ambitious area, but as often happens, certain groups have been overlooked."