Law360, New York (May 04, 2012, 3:06 PM ET) -- The New York Court of Appeals handed down a narrow interpretation of the state's equitable relief doctrine Thursday, ruling that subtenants don't have the same protections as tenants when it comes to losses sustained due to inadvertent failure to renew a lease.
In a split decision, the New York high court found the former lessee of a $10 million upstate nursing home is not entitled to compensation for improvements a subtenant made to the property, which were forfeited when the lessee didn't send in its renewal notice...
Subtenant Not Entitled To Relief For Property Fixes: NY Court
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