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Bankruptcy Code Commercial Leases Commercial Property Owners

Stark & Stark

JOANN’s Chapter 11 Bankruptcy Filing: Stitching Together a Reorganization

Stark & Stark on

​​​​​​​JOANN, Inc., aka Jo-Ann Stores Holdings Inc. aka JOANN aka Jo-Ann Fabrics and Crafts, the 80-year-old, Ohio-based, arts-and-crafts operator filed for Chapter 11 bankruptcy protection in the District of Delaware...more

Holland & Knight LLP

The Real Estate and Corporate Restructuring Connection, Plus Retail Restructuring Trends

Holland & Knight LLP on

The transition to online shopping, interest rate increases, labor costs, maturing debt and rising inflation have collectively taken a significant toll on the retail industry, contributing to store closures and a growing...more

Nutter McClennen & Fish LLP

FAQs for Commercial Landlords When a Tenant Files Chapter 11

When a tenant under an unexpired lease of nonresidential real property files a case under chapter 11 of the Bankruptcy Code, both tenant and landlord acquire rights and obligations that may contravene the terms of the lease...more

Goodwin

New Decision on Lease Rejection Damages

Goodwin on

This alert highlights a recent decision by Judge Michael E. Wiles in the Bankruptcy Court for the Southern District of New York (“SDNY”), which held that lease rejection damages should be calculated using the “time approach”...more

Ward and Smith, P.A.

To Encourage Landlords to Work with Struggling Tenants, Congress Removes a Powerful Weapon Wielded by Bankruptcy Trustees

Ward and Smith, P.A. on

Since the COVID-19 pandemic began, many tenants have seen their revenues plummet or disappear entirely as a result of state and local regulations on whether they could operate, when, and at what capacity. ...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

Lowndes

What Commercial Landlords Need to Know: 2021 COVID Relief Bankruptcy Changes

Lowndes on

While the headlines focused on the additional stimulus checks being sent out again to many Americans, the same law made some temporary tweaks to the bankruptcy code, three in particular that will affect commercial landlords...more

Kelley Drye & Warren LLP

Commercial Landlords Take Note – COVID Relief Bill Contains Important Bankruptcy Code Amendments

The much-ballyhooed COVID relief bill passed by Congress at the end of last year, in addition to providing for $600 checks to millions of people, includes several COVID-related amendments to the U.S. Bankruptcy Code. Some of...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

Brownstein Hyatt Farber Schreck

Have You Thought About ... What Happens When Your Commercial Tenant Files for Bankruptcy?

The realities of a COVID-19-impacted economy have seen more and more businesses closing their doors. For landlords with commercial tenants, that means the possibility of facing multiple tenants going through bankruptcy...more

Morrison & Foerster LLP

Commercial Landlords (And Their Lenders) Beware: Bankruptcy Courts Are Shifting Risks To Lessors In Response To The Exigent...

The COVID-19 pandemic has triggered unprecedented levels of business disruption and forced numerous companies into bankruptcy in an effort to preserve dwindling liquidity and postpone creditor demands. Retailers, whose...more

Farella Braun + Martel LLP

Treatment of Commercial Leases in Tenant Bankruptcy – The Basics

As the COVID-19 pandemic continues to wreak havoc with the nation’s economy, we have started to see bankruptcy filings by well-known companies such as GNC, J. Crew, Neiman Marcus, Modell’s, 24 Hour Fitness, Gold’s Gym, and...more

Ruder Ware

In re Hitz Restaurant Group: Coronavirus Shutdown Order Excuses Tenant’s Rent

Ruder Ware on

Back in mid-March (which seems much longer than three months ago!), many governors issued stay-at-home orders, silencing the bustle of everyday activity. Restaurants and bars locked their doors, schools moved online, and...more

Snell & Wilmer

Is a Bankruptcy Plan that Violates Federal Criminal Law Proposed in Bad Faith?

Snell & Wilmer on

Although legal in many states, marijuana remains illegal under federal criminal law. See 21 U.S.C. § 856(a)(1). One would think that engaging in illegal activity under federal criminal law would preclude relief under federal...more

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