One of the questions in real estate law arising out of the pandemic is what impact the pandemic and related closure orders would have on commercial leases, and in particular a tenant’s obligation to pay rent. Many, if not...more
On December 5, the Massachusetts Appeals Court issued an important decision impacting commercial landlords’ ability to accelerate rent as liquidated damages after a Lessee’s default in Cummings Properties, LLC vs. Darryl C....more
Several weeks back, we reported on an apparent uptick in commercial lease disputes over the last 18 months in this new COVID era. It only follows that there would be a corresponding uptick in Yellowstone applications from...more
The COVID-19 pandemic continues to affect the commercial real estate market, and the San Francisco Board of Supervisors is pursuing relief for certain categories of commercial tenants, including adoption of an ordinance...more
The moratorium on landlords evicting commercial tenants has been extended by a longer period than many had expected, to March 2022. Landlords and tenants will also be compelled to enter into arbitration proceedings if they...more
On April 19, 2021, the Consumer Financial Protection Bureau (CFPB) issued an interim final rule intended to help residential tenants facing eviction for nonpayment of rent.1 2 This rule was issued under the CFPB’s authority...more
It has been a busy couple of weeks in the UK with judgments in two important cases concerning COVID-19 rent arrears: Commerz Real Investmentgesellschaft mbh v TFS Stores Limited (TFS) ...more
30 June 2021 will be a date no doubt circled on many calendars as being the date when landlords in England currently expect to be able to reassert some control following the end of the “temporary” measures proposed and...more
On March 29, 2021, Consumer Financial Protection Bureau (CFPB) Acting Director Dave Uejio and Federal Trade Commission (FTC) Acting Chairwoman Rebecca Slaughter issued a joint statement regarding their agencies’ work to stop...more
CASES OF NOTE THE SECRET'S OUT Victoria’s Secret Stores, LLC v. Herald Store Owner LLC, 70 Misc. 3d 1206(A) (N.Y. Sup. Ct. Jan. 7, 2021) A New York court recently held that a retailer’s closure due to a state law imposed...more
If a tenant defaults upon payment of rent, the landlord does have a right to accelerate the balance of the rental due for the remaining lease term. This practice is not, however, favored by the courts; therefore, the...more
The government has announced that it will be extending the current protections that have been afforded to commercial tenants as a result of the COVID-19 pandemic, for one final time. ...more
In a not unexpected move with restrictions on the general public expected to remain well into the New Year the Government has extended the protections for commercial tenants and the restrictions on filing statutory demands...more
Under a particular Florida statute, in a commercial eviction, where there is a court order requiring the tenant to pay rent into the court registry during the lawsuit and the tenant fails to pay, the tenant is considered to...more
Wir laden Sie auch in diesem Jahr wieder herzlich zu unserer McDermott Deal Academy ein – 2020 als interaktives Online-Seminar. Mit unseren Experten aus den Bereichen Real Estate, Regulatory und Restructuring wollen wir...more
We cordially invite you to our McDermott Deal Academy again this year - in 2020 as an interactive online seminar. We want to discuss current developments in real estate transactions and their structuring with our experts from...more
A Kings County Supreme Court Commercial Division Justice recently rejected a restaurant tenant’s argument that the Executive Orders issued in response to the COVID-19 pandemic frustrated the purpose of its commercial lease,...more
As discussed in previous updates, COVID-19 has brought the concept of force majeure to the forefront across multiple practice areas. As the pandemic-caused shutdowns began, scholars and businesses alike re-examined the...more
Avid readers will have seen our previous blog (https://www.ukrealestatelawblog.com/2020/03/24/uk-covid-19-commercial-tenants-to-be-given-three-months-protection-from-forfeiture/) on the government’s proposals to protect...more
Although company voluntary arrangements have stolen the headlines this year, there are many other tenants, particularly those in the retail sector that are not seeking to reduce their rents but simply falling into arrears. ...more