PODCAST: Williams Mullen's Benefits Companion - ERISA Forfeiture Litigation
This decision has confirmed that a court can grant relief from forfeiture in relation to a tenant’s option to take a new lease. It is a useful reminder for landlords that forfeiture does not apply solely to leases, and is a...more
A commercial lease co-tenancy clause conditions a retail tenant’s opening for business or continuing operations at the designated property upon another tenant opening for business or continuing operations at the same...more
The Government has finally published its response to the call for evidence in relation to Covid-19 commercial rent arrears, along with a policy statement about the proposed new legislation it plans to introduce before the...more
Most commercial leases require the tenant to pay its rent quarterly, and invariably include a provision allowing the landlord to forfeit if that rent has been unpaid for a period of time, e.g. 7, 14 or 21 days. Outside of...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
What is proposed for business tenancies? A section in the Coronavirus Act 2020 (the “Act”), which is the government’s emergency legislation, will stop the forfeiture of business tenancies for non-payment of rent (including...more
Below is the latest information regarding the effect that the COVID-19 pandemic is having on real estate transactions in Iowa. Foreclosures: All residential, commercial, and agricultural foreclosure and forfeiture...more
[author: Jana Contreras] “If a tree falls in the forest with no ears to hear does it make a sound?” While the answer to that riddle still remains elusive to many, a recent California court of appeal decision did succeed in...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
Under California law, a provision of a contract found to impose a penalty is unenforceable as a forfeiture and contrary to public policy. The characteristic feature of a penalty is the lack of proportional relation between...more
The US Bankruptcy Court for the Central District of California (the "Court") recently upheld the validity of a commercial lease provision by which a debtor/tenant waived its rights to seek relief from forfeiture (i.e.,...more
Forfeiture clauses are common in many legacy oil and gas leases in Pennsylvania and are often relied upon by oil and gas owners/lessors seeking to terminate their leases in order to seek more financially lucrative...more