22 December 2010
Mayer Brown won a significant victory for its pro bono client, Credit Where Credit Is Due, Inc., a non-profit credit union that serves the community of Washington Heights, New York. In early 2009, Mayer Brown helped CWCID settle a holdover proceeding brought by its landlord, the Port Authority of New York and New Jersey. The settlement allowed CWCID to remain at its present location until the Port Authority and a developer had agreed on the future of the building.
Before the it reached an agreement with the developer, however, the Port Authority moved to vacate the settlement and evict CWCID within one month, arguing that the developer’s loss of its equity partner had rendered the settlement impossible to perform. Mayer Brown convinced the court to deny the Port Authority’s motion on the grounds that the doctrine of impossibility did not apply because the developer’s loss of its equity partner was foreseeable and was a risk that the parties had allocated to the Port Authority.