News & Analysis as of

Commercial Leases

When Leaseholds And Sales Collide In Bankruptcy

by Barley Snyder on

Two sections of the Bankruptcy Code addressing leases sometimes work in tandem with each other, but some courts are creating a conflict. Section 363 gives bankruptcy courts the power to approve the sale of the assets of a...more

Identifying and Addressing Environmental Issues in Petroleum Marketing Agreements (“Presentation”)

The Arkansas Oil Marketers Association Environmental Workshop was held on August 30th in Little Rock. I undertook a presentation titled: Identifying and Addressing Environmental Issues in Petroleum Marketing...more

Commercial landlords beware! Time to modify your lease form allowing encumbrance of tenant’s interest?

by Thompson Coburn LLP on

The California Court of Appeal recently held that a lender that took possession of a defaulting tenant’s premises and then transferred its interest to a third party was not liable to the landlord for future rent. In BRE DDR...more

Commercial Leasing Issues: Understanding Net versus Gross Leases

The question may arise as to which party pays for the operating costs in a commercial lease. Generally speaking, “Net” leases are those leases in which the operating costs are not included in the base rent and “Gross” leases...more

A Game-Changer for Industrial and Commercial Leasing? 'Business-to-Business' Services and the 'Ultimate Consumer' Test

by K&L Gates LLP on

A recent decision of the Court of Appeal has potentially far reaching implications for industrial and commercial leasing practice in Victoria. The Court of Appeal's decision in IMCC Group (Australia) Pty Ltd v CB Cold...more

Italy: New Rules on Financial Leases Provide Clarity

by Jones Day on

Law no. 124 of August 4, 2017 ("Law 124") provides important new rules on financial leases in Italy. It introduces a statutory definition of "financial lease" and deals with the event of serious breach (grave inadempimento)...more

Condemnation Risk Planning: Denial Is Not A Strategy

In the past, few Puget Sound property owners or their business tenants would have given a moment’s thought to identifying contingencies for the prospect of a condemnation. Today’s environment is very different. Sound Transit...more

How much is too much? NY AG stops Simon Property from enforcing its 60-mile radius restriction

by Thompson Coburn LLP on

In shopping center leases, the landlord may agree to protect current tenants with exclusive use provisions, blocking future tenants from competing with the already existing businesses...Landlords also limit tenants’ uses...more

Tenants Beware – The Ninth Circuit Has Ruled That The Bankruptcy Code Can Be Used By A Landlord To Strip A Tenant’s Right To...

by Ervin Cohen & Jessup LLP on

Just last month, the Ninth Circuit issued a ruling in the case of Matter of Spanish Peak Holding II, LLC, that is potentially devastating to a tenant that leases property from a landlord that files for bankruptcy relief....more

“Spanish Peaks” and Leases in a Landlord’s Bankruptcy – Tenants Beware!

The recent Spanish Peaks decision from the Ninth Circuit (covering Alaska, Arizona, California, Hawaii, Idaho, Montana, Nevada, Oregon and Washington) deepens the split in case law on the ability to strip off leases in a...more

Surviving the Retail Shift: Part 2 of a 5 Part Series – A Landlord’s Duty to Mitigate its Damages

by Polsinelli on

In Part I of this five part series, we addressed managing the legal process to help commercial landlords achieve the most efficient results when dealing with defaulting retail tenant. But, what happens once the shopping...more

Client Alert: North Carolina Court of Appeals Issues Important Opinion on Commercial Lease Guaranties

Is a personal guaranty a separate agreement from the underlying contract it guarantees? The North Carolina Court of Appeals recently considered this issue in Friday Investments, LLC v. Bally Total Fitness of the...more

Ninth Circuit Joins “Minority” of Courts That Allow Property to be Sold in Bankruptcy Free and Clear of Leaseholds

The Ninth Circuit recently held, in Pinnacle Rest. at Big Sky, LLC v. CH SP Acquisitions, LLC (In re Spanish Peaks Holdings II, LLC), No. 15-35572, 2017 U.S. App. LEXIS 12526, 2017 WL 2979660 (9th Cir. July 13, 2017), that a...more

Court Affirms Submission of Mitigation Instruction In A Breach Of Fiduciary Duty Case To Affirm A Jury’s Finding Of No Damages

by Winstead PC on

In E.L. & Associates v. Pabon, a company sued two former directors and their son for breaching fiduciary duties when the company lost a lease for a restaurant it operated and the directors’ son opened a nearly identical...more

A Perspective on the Storyline that E-Commerce Will Devour the Retail Shopping Malls

In the recent proliferation of pessimistic articles about the demise of brick-and-mortar shopping and the looming retail “meltdown” or “apocalypse,” many writers have emphasized those economic forces that support their...more

News from AGG's Retail Industry Team - Summer Edition

Title III of the Americans with Disabilities Act (ADA) provides “[n]o individual shall be discriminated against on the basis of disability in the full and equal enjoyment of the goods, services, facilities, privileges,...more

How Does a Foreclosure Affect a Retail Lease?

A foreclosure by a lender of a landlord’s property terminates all subordinate leases on the property. In the absence of an SNDA, then whether a lease is subordinate is determined by the timing of the mortgage or similar...more

Funds Talk: August 2017 - Retail Restructuring Outlook

On July 12, Kramer Levin and Debtwire co-hosted the “Retail Restructuring Outlook” panel discussion at Kramer Levin’s New York office, moderated by Debtwire’s Richard M. Goldman. The discussion covered topics including market...more

Chancery Denies Relief Under Agreement To Negotiate

by Fox Rothschild LLP on

In the letter opinion of Windsor I, LLC v. CWCapital Asset Management LLC, C.A. No. 12977-CB (Del. Ch. July 31, 2017), the Court of Chancery determined the enforceability of an agreement to negotiate, under Maryland law. ...more

A Nation of Shopkeepers

by Goulston & Storrs PC on

David Rabinowitz and Matt Epstein who, with Nancy Davids, co-chair Goulston’s Retail, Restaurant and Consumer Group, spent some time in London last month surveying the retail landscape. There are both similarities and...more

Constructing a way around the 1954 Act

by Dentons on

The High Court decision in S Franses Ltd v. Cavendish Hotel (London) Ltd [2017] EWHC 1670 will be of interest to landlords and tenants involved in lease renewal proceedings pursuant to the Landlord and Tenant Act 1954 (1954...more

Kramer Levin-Debtwire Retail Event Tackles Distressed Asset Monetization Strategies

Kramer Levin Naftalis & Frankel and Debtwire recently co-sponsored a retail restructuring discussion that brought together a formidable roster of retail restructuring experts to discuss opportunities and strategies for...more

E-Commerce Disruption – Tenant’s Tizzy

by Gray Reed & McGraw on

For over a decade On the Skware Toy Soldiers and its owners, Boo & Woo, the Skware brothers, have enjoyed the shopping traffic brought to their retail store that’s located in the same shopping center as Athletics Authoritiez,...more

Key issues in negotiating financeable ground leases

by Thompson Coburn LLP on

Ground leases are generally long-term leases of property entered into between a property owner and tenant where the tenant leases land and subsequently constructs a building or other improvements on that land. Since ground...more

Sears Canada Files for CCAA Protection: A Distressed Investor's Overview of US Bankruptcy and Canadian Insolvency Law

On June 22, Sears Canada Inc. ("Sears Canada") and certain affiliates1 (collectively, the "Sears Canada Group") sought and obtained insolvency protection under the Companies' Creditors Arrangement Act (CCAA) from the Ontario...more

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