News & Analysis as of

Commercial Property Owners Business Closures

BCLP

Empty property rates

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Following recent court decisions, the options available to an owner of empty business premises to avoid a liability for empty property rates have been reduced.  This matters because no rates are payable for the first...more

Rivkin Radler LLP

New York Insurance Coverage Law Update - May 2021

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WDNY Follows Other New York Courts Holding That COVID-19 Losses Are Not Covered- The insured operated a martial arts and fitness business in Buffalo, New York, that sustained losses in revenue when its business closed...more

Holland & Knight LLP

March Decisions Bring Mixed Results for Parties to New York COVID-19 Commercial Lease Disputes

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Two recent cases from New York state court came out on opposite ends of the landlord-tenant and landlord-guarantor divides over COVID-19-related commercial lease disputes. On the pro-landlord end of the spectrum, in Mept 757...more

Maynard Nexsen

South Carolina Abandoned Building Incentives at Risk of Going Away

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Mark Harmon, Nexsen Pruet Government Affairs Advisor, discusses upswings and downswings in the economy and how those downswings often result in the departure or closure of businesses, and subsequently, the abandonment of...more

Nossaman LLP

Podcast: Valuation and Damages: Assessing COVID-19’s Economic Impact

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Changes in how businesses operate, restrictions on property use and reduced revenues brought on by mandated closures due to COVID-19 have had a major impact on the real estate market and legal proceedings related to it...more

BCLP

Empty property rates in England; guarding the guardians?

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The two taxes in England on the occupation of property are non-domestic rating and, for domestic rating, council tax. Pre COVID, business rates yielded £30bn and council tax £36bn annually. Rates are payable on business...more

Bradley Arant Boult Cummings LLP

Big Win for Restaurant Policyholders in COVID-19 Litigation in North Carolina

A North Carolina court has required Cincinnati Insurance Company to provide business interruption and extra expense coverage to 16 North Carolina restaurants that lost the use of and access to their properties due to COVID-19...more

BCLP

Empty property rates in England; how can a business mitigate its liability?

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A tax on failure - Empty property rates is a tax on failure; the failure of the owner to find either a profitable use for the premises or a tenant to pay a rent. Since March 2020, reliefs have been available to cushion...more

Carlton Fields

DC Court Finds No Coverage for COVID-19 Losses Where Plaintiffs Could Not Show That Property Sustained Direct Physical Loss

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For going on five months, the United States has been dealing with the difficult impact of the COVID-19 pandemic, which has disrupted daily lives and sometimes devastated businesses. In looking for sources of economic...more

Williams Mullen

Williams Mullen's COVID-19 Comeback Plan: Landlord and Tenant Negotiations for Existing Commercial Leases Amid the COVID-19...

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Real Estate Partners Alyssa Carducci Embree and Robby Lawson discuss the responsibility for rent relief during a forced closure, landlord/tenant workouts for tenant’s continued operation in the premises, and tenant exit...more

Tonkon Torp LLP

Force Majeure Clause Hitz The Spot For Restaurant Tenant

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In previous updates Tonkon Torp attorneys have addressed the applicability of Force Majeure clauses in commercial contracts. As expected, commercial renters are taking a beating, and many have been forced to close as a result...more

Mintz - Real Estate, Construction &...

New NYC Legislation Prohibits Enforcement of Personal Liability Provisions in Commercial Leases

On May 26, 2020, Mayor de Blasio signed into effect N.Y.C. Council Int. No. 1932-A (2020). The law amends NYC administrative code by rendering unenforceable provisions in commercial leases providing for personal guaranties by...more

Holland & Knight LLP

Bankruptcy Implications for Commercial Landlords with Bankrupt or Near-Bankrupt Tenants

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Tenant credit and security issues and certain lease negotiations (including modification or termination agreements) happening now may be impacted by a tenant bankruptcy in the future. Commercial landlords considering new...more

BCLP

Update on preventing squatters in commercial premises (England and Wales)

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With a large number of retail and restaurant premises closing temporarily due to COVID-19, there is an increased risk of squatters breaking into commercial premises. Unlike residential premises, it is not a criminal...more

White and Williams LLP

It Has Started: Supply-Chain, Warehouse and Retail Workers of Essential Businesses Are Filing Suit

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Supply-chain businesses that are appropriately characterized as “essential” have remained open for the delivery of critical supplies while everyone else has been told to close up shop and stay home. Now essential-business...more

Eversheds Sutherland (US) LLP

The COVID-19 pandemic’s impact on US lease obligations

As COVID-19 continues to spread and claim lives, various federal, state, and local government agencies have reacted with unprecedented measures around, among other issues, social distancing and business closures. Indeed, as...more

Farella Braun + Martel LLP

[Webinar] Business Interruption Coverage for the Coronavirus - March 31st, 10:00 am - 11:00 am PT

The coronavirus (COVID-19) has disrupted the economy and caused significant losses for businesses large and small. Commercial property insurance policies typically include business interruption coverage. It is critical that...more

Seyfarth Shaw LLP

10 Considerations for Landlords During the Coronavirus Crisis

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Disruptions from the coronavirus (COVID-19) pandemic will have a lasting impact on industries worldwide. Commercial real estate landlords and tenants are being forced to make difficult decisions to adapt to these sudden...more

McGlinchey Stafford

COVID-19: Potential Impact on Commercial and Residential Real Estate

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The impact of the coronavirus on commercial and residential real estate will be significant. Here are just a few of the changes that are coming and some thoughts on potential actions that might be taken to mitigate risk....more

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