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Commercial Property Owners Commercial Bankruptcy

Stark & Stark

Rite-Aid Files a Chapter 22: Second Chapter 11 Bankruptcy Filing in Two Years

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Rite Aid Corporation filed a Chapter 11 bankruptcy petition for the second time in two (2) years in the District of New Jersey Bankruptcy Court, docket #25-14731 (MBK) on May 5, 2025. A repeat filing like this is often...more

Stark & Stark

A BIG LOTS Chapter 11 Lesson: Caution Needed When Doing Business with Chapter 11 Debtors

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Vendors, landlords, and other creditors often feel a sense of security when doing business with Chapter 11 debtors. The Bankruptcy Code, and even court orders entered at the outset of a bankruptcy case, seemingly provide a...more

Stark & Stark

4 Lease Auction Tips for Landlords

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During a retail bankruptcy, commercial landlords often face challenges when their tenants try to maximize the value of the bankrupt estate by holding lease auctions. Despite lease provisions that may restrict or prohibit a...more

Holland & Knight LLP

Retail Reboot: Common Mistakes to Avoid When Evicting Tenants

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When managing commercial real estate, landlords must navigate a complex array of legal, financial and operational challenges to protect their investments and ensure smooth tenant relationships. However, a series of common...more

Rivkin Radler LLP

Landlord Considerations When Navigating Personal Guarantees in Bankruptcy

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When a business leases commercial space, it is common practice for the landlord to request that the company provide a personal guaranty, a protective measure taken to ensure landlords have recourse against a commercial lessee...more

Lowenstein Sandler LLP

Bankruptcy in Real Estate: What to Do When Faced with Foreclosure?

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This episode of “Terra Firma: Conversations on Commercial Real Estate” features hosts Stacey C. Tyler and Stephen Tanico talking with Eric Chafetz, partner in Lowenstein’s Bankruptcy and Restructuring Group, about office...more

Stoel Rives LLP

What Landlords Should Know When Restaurant Tenants Go Under

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As anyone who has watched FX’s The Bear knows, running a restaurant is hard work. When restaurants occupying leased commercial space fail, commercial landlords need a gameplan to protect their interests. Some key...more

Porter Hedges LLP

Real Estate Planning Tips: What is Cancellation of Indebtedness ("COD") Income?

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The commercial real estate market is in the process of adjusting to lower property valuations. Much recent focus has been on office buildings, and the fallout from enduring reductions in occupancy associated with remote and...more

Womble Bond Dickinson

Conducting Efficient and Successful Commercial Foreclosure Sales in Georgia: The Process and Considerations for Lenders

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As a non-judicial foreclosure state, it is often thought of as being “easy” to foreclose in Georgia. However, the foreclosure process requires more than running an advertisement for four weeks and conducting the sale on the...more

Stark & Stark

Express Fast Tracks Chapter 11 Bankruptcy Filing

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​​​​​​​Express, Inc., the fashion mall retailer, filed for Chapter 11 bankruptcy protection in the District of Delaware Bankruptcy Court, docket #24-10831 (KBO) on April 22, 2024. This is the second retailer bankruptcy...more

Stark & Stark

99 Cents Only Is Not Enough to Avoid Chapter 11 Bankruptcy

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​​​​​​​Number Holdings, Inc. the parent company of 99 Cents Only Stores LLC (“99 Cents” or the “Company”), an extreme value retail store operator, along with several affiliates, filed for Chapter 11 bankruptcy protection in...more

Stark & Stark

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

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​​​​​​​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

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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

Stark & Stark

Rite Aid Chapter 11 Bankruptcy Filing: Just What the Doctor Ordered

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​​​​​​​Rite Aid Corporation, one of the largest pharmacy chains in America, filed for Chapter 11 bankruptcy protection in the District of New Jersey bankruptcy Court, docket #23-18993 (MBK) on October 15, 2023. According to...more

Stark & Stark

Impending Rite Aid Chapter 11 Bankruptcy - 4 Things Trade Creditors and Landlords Should Know

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As reported by both NBC News and The Wall Street Journal, Rite Aid is preparing for a Chapter 11 bankruptcy filing. Rite Aid is the third-largest U.S. drugstore chain. If they pull the trigger, it is expected that 400 to 500...more

Epiq

Correlating Commercial Real Estate and Bankruptcy Trends

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Is the U.S. commercial real estate market in a bubble about to burst? Several financial market analysts would answer this question with a yes, it’s more likely than not that the sector will experience some significant...more

Goodwin

New Decision on Lease Rejection Damages

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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

Goodwin

Top 10 Questions For Landlords to Ask When a Tenant Files for Bankruptcy

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As uncertain economic times continue, particularly in the retail sector, commercial tenant bankruptcies are on the rise. Goodwin’s Financial Restructuring group presents 10 questions (and related practice points) for...more

Miller Canfield

Michigan Adopts Its Version of the Uniform Assignment of Rents Act

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In May 2017, we highlighted the Sixth Circuit’s opinion in Town Center Flats. Briefly, Town Center Flats held that ownership of a commercial property’s rents transferred to a lender when (1) a commercial loan is secured by a...more

Stark & Stark

10 Retailers to Watch for a Bankruptcy Filing in 2022

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The last half of 2021 was virtually a ghost town for filing retail bankruptcies. However, the rise of the Omicron variant has significantly delayed a full return to normal for shopping centers. ...more

Kaufman & Canoles

Commercial Real Estate Receiverships: The Closing of the Action and Miscellaneous Matters

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The sale order should require that the receiver file an accounting of its activities as receiver within so many days of the sale of the property. Once that has been filed, the secured lenders counsel can file a motion to...more

Ward and Smith, P.A.

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

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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

Genova Burns LLC

Update from our Bankruptcy Law Department

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The COVID pandemic has had far reaching impacts in the New Jersey judicial system. For almost a year, commercial and residential foreclosures and evictions essentially came to a halt....more

Lowndes

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

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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

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