SDNY Chooses “Time Approach” to Calculating Lease Termination Damages Collectible Against a Bankrupt Estate
Beginning on January 1, 2025, landlords of commercial properties – be they office, industrial or retail, will need to develop new procedures when entering into leases with a newly defined class of tenants, identified as...more
Financial distress persists in the commercial real estate market, raising the prospects that property owners and landlords could seek relief under chapter 11 of the Bankruptcy Code. The Bankruptcy Code contains numerous...more
In a landmark settlement, a property management company and its landlord have agreed to pay a significant sum following allegations of violating the Servicemembers Civil Relief Act (SCRA). The U.S. Attorney’s Office, Eastern...more
Even landlords who conduct in-depth analyses of tenant credit and financial health will experience some tenants who become financially unstable during the term of the lease. In an environment where replacing tenants can be...more
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
Keara Waldron and Lindsay H. Sklar discuss the decision by the Bankruptcy Court for the Southern District of New York in the case of In re Cortlandt Liquidating LLC, which parted with decades of precedent to endorse and apply...more
To prevent landlords under long-term real property leases from reaping a windfall for future rent claims at the expense of other creditors, the Bankruptcy Code caps the amount of a landlord's claim against a debtor-tenant for...more
The long moratorium on most evictions due to the COVID-19 pandemic, as well as the de facto shutdown of the court system for civil matters, caused most California landlords to defer unlawful detainer and related...more
Under Section 101(54) of the bankruptcy code, any means of disposing with an interest in property is considered a transfer, and therefore, under certain circumstances, may be avoided as a preference or fraudulent transfer. In...more
CASES OF NOTE - LANDLORD UNABLE TO EVICT DESPITE TENANT DEFAULTS - Varano v. PDJM Land Trust LLC, et al. No. 1884CV02662, (Mass. Super. Ct. June 16, 2022) The Massachusetts Superior Court held that a commercial landlord...more
The United States’ retail cannabis industry continues exploding, and it doesn’t show any signs of slowing down. These numbers are guaranteed to change after this Tuesday’s election, but as of October 2022, 37 states have...more
The world is transforming in the post-covid era and business needs are evolving as consumer habits change. These changes can directly impact the space where you conduct business and have you contemplating what to do about...more
The Florida Department of Business and Professional Regulation (DBPR) released the first five-year adjustment to Estoppel Certificate Fees permitted under Section 718.116(8)(f), Florida Statutes, of the Condominium Act and...more
On May 10, 2022, the Connecticut Supreme Court issued an extremely important decision in AGW Sono Partners, LLC v. Downtown Soho, LLC, et al. (SC 20625), addressing several COVID-19 related defenses being asserted by...more
Sanctions designations may require U.S. persons involved with sanctioned individuals to terminate existing contracts, including leases. It is important for landlords to conduct thorough due diligence on prospective...more
Briefcase: Quarterly Real Estate Update - Cases and News including: ..The Royal Parks Limited and the Secretary of State for Digital, Culture, Media and Sport v Bluebird Boats Limited ..Monsolar IQ Ltd v Woden Park...more
The advent of the COVID-19 virus and related shut-downs that commenced in early 2020 have had a dramatic impact on commercial real estate throughout the United States and resulted in numerous high profile lawsuits. ...more
On a protected lease renewal, a landlord may rely on the following "fault" grounds to oppose the grant of a new lease: (a) Failure by the tenant to comply with its repair and maintenance obligations...more
Disputes often arise about the extent of a tenant’s obligations to reinstate the leased premises at the conclusion of the lease. Large sums of money can be involved....more
Sometimes the result of even a good business is bankruptcy, particularly as COVID-19 and its economic and regulatory impacts run through plans that were otherwise well-laid. This article provides no advice for a business...more
The pandemic has significantly impacted the real estate sector. With a surge in the number of employees who work from home, the demand for office space has softened. At the same time, growth in e-commerce has exploded,...more
“When will I be required to return to the office?” is one of the most common questions employers hear from their employees these days. The answer to this question varies by industry and specific employer. For example, the...more
In these troubled times when lease and other contract defaults, as well as bankruptcies, abound, it may be useful to reexamine what happens to a lease of commercial real estate when it has been terminated in accordance with...more
To prevent landlords under long-term real property leases from reaping a windfall for future rent claims at the expense of other creditors, section 502(b)(6) of the Bankruptcy Code caps the amount of a landlord's claims...more
On May 1, 2020, in Winston Affordable Housing, LLC v. Roberts, the North Carolina Supreme Court clarified the law surrounding a landlord's acceptance of rent after issuing a non-renewal notice because of the tenant's breach...more