If you really want to be released from your lease obligations and those of your assignee, you need to get a landlord release at the time of assignment.
An assignor tenant’s lease obligations survive an otherwise permitted...more
1/27/2022
/ Bankruptcy Court ,
Chapter 11 ,
Commercial Bankruptcy ,
Commercial Leases ,
Coronavirus/COVID-19 ,
Landlords ,
Leases ,
Material Change Doctrine ,
Pre-Bankruptcy Claims ,
Proof of Claims ,
Releases
Congress introduces legislation to extend the $7.5 million debt ceiling for Subchapter V eligibility for an additional year to March 27, 2022.
Subchapter V was designed to be a cost-effective distress tool for small...more
While the recent Bankruptcy Code amendments allow small business debtors to extend their deferral of lease obligations beyond the first 60 days of the bankruptcy case, the amendments raise and leave unanswered important...more
1/27/2021
/ Bankruptcy Code ,
Bifurcation ,
CARES Act ,
Chapter 11 ,
Commercial Leases ,
Consolidated Appropriations Act (CAA) ,
Coronavirus/COVID-19 ,
Debtors ,
New Amendments ,
Small Business ,
Small Business Reorganization Act of 2019 (SBRA)
A recent Chuck E. Cheese decision rejects the debtor’s/tenant’s request to avoid paying rent based upon state law equity arguments.
CEC’s leases expressly do not permit rent relief even if force majeure is triggered....more
A recent Chuck E. Cheese decision denies the debtor’s/tenant’s request to defer paying rent after the 60-day “rent holiday.”
The Bankruptcy Court applied the “plain language” rule to hold that section 365(d)(3)’s rent...more