Partner Steve Morger Reviews Impact of Black Sky Decision on Commercial Lending
In his byline article for The Registry, Partner Steve Morger discusses the recent California Supreme Court decision in Black Sky Capital LLC v. Cobb, which upended decades of lending practices by reversing existing law on obligations secured by a junior deed of trust. Steve reviews the background of the case and looks at how the court reached its decision.
Steve also explains that the case served a purpose in addressing a small question in the treatment of multiple loans held by a single lender which are secured by the same property. Many questions remain unanswered – including whether a safe harbor exists from a time perspective.
To read the full article, visit The Registry. (subscription required)