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Landlords Debtors

Ward and Smith, P.A.

Bankruptcy Destroyed My Perfect (Landlord-Tenant) Relationship!

Ward and Smith, P.A. on

February brings us Valentine's Day, and we bring you a tale as old as time. Two people meet, maybe online, maybe at a Chamber of Commerce mixer, maybe over lunch arranged by a broker.  They hit it off and commit to a...more

Levenfeld Pearlstein, LLC

Commercial Real Estate Disputes in Subchapter V Chapter 11 Cases: Landlord and Tenant Rights in Bankruptcy Proceedings

The treatment of commercial lease liabilities in chapter 11 cases is a frequent point of contention in commercial bankruptcy proceedings. Landlords and tenants often clash over when (and how much) rent is due when filing for...more

Lowenstein Sandler LLP

SDNY Chooses “Time Approach” to Calculating Lease Termination Damages Collectible Against a Bankrupt Estate

Lowenstein Sandler LLP on

Keara Waldron and Lindsay H. Sklar discuss the decision by the Bankruptcy Court for the Southern District of New York in the case of In re Cortlandt Liquidating LLC, which parted with decades of precedent to endorse and apply...more

White and Williams LLP

SDNY Revisits Rent Cap Calculations: a Pendulum Shift to the Time Approach

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Among the Bankruptcy Code’s most powerful one-two punches, Section 365(a) allows a debtor to reject burdensome unexpired leases and Section 502(b)(6) caps the landlord’s resulting claim for rejection damages at “the rent...more

Pillsbury Winthrop Shaw Pittman LLP

Time Approach Applied to Cap Rent Claim in Century 21 Bankruptcy Cases

New York bankruptcy court breaks with precedent and endorses time approach for calculating lease termination damages over rent amount approach, resulting in smaller claims for landlords. Time approach limits, and often...more

Jones Day

Default Under Assumed Lease Need Not Be Material or Ongoing to Trigger Landlord's Entitlement to Adequate Assurance of Future...

Jones Day on

The ability of a bankruptcy trustee or chapter 11 debtor-in-possession ("DIP") to assume, assume and assign, or reject executory contracts and unexpired leases is an important tool designed to promote a "fresh start" for...more

Husch Blackwell LLP

Retail Apocalypse Part II? What Trade Creditors and Landlords Can Do To Protect Themselves

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At the outset of the Covid-19 pandemic, some commentators were preparing for a mass extinction event in the retail industry, characterized by hundreds of brick-and-mortar store closings, massive job losses, and numerous...more

Dechert LLP

Third Circuit Finds That Prepetition Option Termination Is Not Transfer

Dechert LLP on

Under Section 101(54) of the bankruptcy code, any means of disposing with an interest in property is considered a transfer, and therefore, under certain circumstances, may be avoided as a preference or fraudulent transfer. In...more

Patterson Belknap Webb & Tyler LLP

What to Do If Your Tenant Is Bankrupt

On September 15, President Biden announced a tentative deal with unions representing tens of thousands of railroad workers that helped narrowly avoid a strike that threatened to devastate the country’s delicate supply chains...more

Carlton Fields

Real Property, Financial Services, & Title Insurance Update: Week Ending October 15, 2021

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Real Property Update - Eviction / Commercial Landlord-Tenant / Motion to Determine Rent: Based on the plain language of section 83.232, Florida Statutes, the trial court is constrained at the rent determination hearing to...more

Hogan Lovells

Winding up restrictions not quite wound up

Hogan Lovells on

The UK Government yesterday announced that it will proceed with the phasing out of temporary measures introduced to protect businesses from creditor action during the COVID-19 pandemic, whilst also announcing new measures to...more

Hogan Lovells

UK COVID-19: “Breathing Space” – giving residential tenants extra time to pay rent arrears

Hogan Lovells on

The government has introduced the Debt Respite Scheme (Breathing Space), which came into effect on 4 May 2021, which allows individuals who are struggling with debt to apply for a “breathing space” in which to sort out their...more

Bowditch & Dewey

The Impact of Recent Amendments to the United States Bankruptcy Code on Lenders

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On March 27, 2021, President Biden signed into law the COVID-19 Bankruptcy Relief Extension Act (the Extension Act). The Extension Act temporarily extends certain bankruptcy relief provisions that were enacted as part of the...more

Bradley Arant Boult Cummings LLP

Guest Notebook: New Law Offers Rent Relief for Commercial Tenants

At the end of 2020, Congress enacted the Consolidated Appropriations Act, 2021, partially in response to the COVID-19 pandemic and resulting economic crisis. While funding the federal government and preventing a government...more

Bradley Arant Boult Cummings LLP

A Business Bankruptcy Overview: How Subchapter V, the CARES Act and the Consolidated Appropriations Act Have Expanded Relief for...

In February 2020, just prior to the COVID-19 outbreak, the Small Business Reorganization Act of 2019 (Subchapter V) took effect. Subchapter V amends Chapter 11 of the Bankruptcy Code to allow certain individuals and...more

Holland & Knight LLP

Congress Enacts Temporary Bankruptcy Relief Related to COVID-19

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Congress passed new, temporary bankruptcy relief measures late last year that impact certain commercial landlords and tenants. Among other things, the new legislation, which was signed into law on Dec. 27, 2020: 1) extends...more

Mintz - Bankruptcy & Restructuring Viewpoints

Consolidated Appropriations Act of 2021 Amends Bankruptcy Code - Part 3: Congress Gives Suppliers and Landlords a Shiny New Arrow...

As discussed in previous posts, the Consolidated Appropriations Act of 2021 (the “Act”) was signed into law on December 27, 2020, largely to address the harsh economic impact of the COVID-19 pandemic. For bankruptcy...more

Arnall Golden Gregory LLP

Why Almost Anyone - Borrowers, Lenders, Landlords, Tenants, Vendors and Others - Should Care About Recent Amendments to the...

On December 27, 2020, the Consolidated Appropriation Act (“CAA”) was signed into law. The CAA amends the Bankruptcy Code in several significant respects. Most of the amendments expire in either one or two years unless they...more

Ward and Smith, P.A.

More Breathing Room for Commercial Tenants in Bankruptcy

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The Consolidated Appropriations Act of 2021 ("CAA") took effect on December 27, 2020. The mammoth spending and COVID-19 pandemic relief bill contains provisions related to commercial real estate leases in bankruptcy. ...more

Bowditch & Dewey

Rent Abatement, PPP Loans (Maybe), and Other Bankruptcy Relief in the Appropriations Act

Bowditch & Dewey on

On December 27, 2020, the Consolidated Appropriations Act, 2021 became law. In addition to funding the government and providing coronavirus relief, the Act contains several intriguing amendments to the Bankruptcy Code. The...more

Allen Matkins

Consolidated Appropriations Act Provides Bankruptcy Preference Liability Protections for Landlords

Allen Matkins on

The Consolidated Appropriations Act of 2021 (Public Law 116-260) (the Act) contains an important change in bankruptcy law beneficial to landlords of nonresidential properties. Among several amendments to the Bankruptcy Code...more

Ballard Spahr LLP

New Stimulus Deal: Amendments to the Bankruptcy Code

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President Trump signed the Consolidated Appropriations Act, 2021 yesterday, December 27, 2020. Although not widely reported, the legislation makes several amendments to the Bankruptcy Code based upon the severe financial...more

Farella Braun + Martel LLP

What to Do When Commercial Leases End Up in Bankruptcy

The COVID-19 pandemic is forcing many businesses to close, leaving landlords in the lurch. The COVID-19 pandemic continues to shake up the nation’s economy. Long-standing companies such as JC Penney, J. Crew, Neiman...more

Bowditch & Dewey

Delaying the Inevitable? Pier 1, Chuck E. Cheese, and Rent Abatement in Bankruptcy

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The coronavirus pandemic has been particularly cruel to brick-and-mortar retail establishments. As rising infection rates force municipalities to roll back reopening plans, retail and hospitality businesses that rely on...more

Perkins Coie

Landlords Defeat Debtors Seeking COVID-19 Rent Abatements and Deferrals

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Retail, restaurant, entertainment, and other industries have been devastated by COVID-19 and the resulting governmental orders either precluding or materially limiting operations. In that regard, retail bankruptcy filings...more

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