Jonathan Mechanic is quoted in a <em>New York Observer</em> article entitled "It's a WashMu! Landlords Fear Gaping Spaces as F.D.I.C. Mulls Nuclear Option"

Jonathan Mechanic is quoted in a New York Observer article entitled "It's a WashMu! Landlords Fear Gaping Spaces as F.D.I.C. Mulls Nuclear Option"

New York real estate partner Jonathan Mechanic is quoted in a New York Observer article about the F.D.I.C.’s agreement that JPMorgan Chase can chose which branches of Washington Mutual to keep open. The branches not selected will be turned over to the F.D.I.C., which can terminate the leases at will. Mechanic explains that isn’t the normal procedure. "If a tenant files for bankruptcy, then the landlord has a cap on his damages equal to the greater of one year’s rent or 15 percent of the rent of the remaining lease term not to exceed three years."

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