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Force Majeure Clause Commercial Bankruptcy

Foley & Lardner LLP

What Every Multinational Company Should Know About … Managing Import Risks Under the New Trump Administration (Part IV):...

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In an increasingly volatile global economy, suppliers and buyers face unforeseen challenges that may impact their ability to perform under commercial contracts. Longstanding assumptions about the level of tariffs, even under...more

Weintraub Tobin

The Importance Of Lease Drafting: Lease Language Takes Center Stage In “Cinemex”

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When in the throes of protracted lease negotiations, frustrated clients often ask me whether a proposed term is truly necessary to the contemplated transaction. Most clients start these discussions with the goal of achieving...more

Hogan Lovells

Hotel contracts - Deferred or suspended rent due to Corona

Hogan Lovells on

Does the owner bear the risk in case of bankruptcy? Due to the tense situation in the hotel industry, various lessees are currently approaching their lessors asking for deferral or abatement of rent payments for the...more

Bowditch & Dewey

Delaying the Inevitable? Pier 1, Chuck E. Cheese, and Rent Abatement in Bankruptcy

Bowditch & Dewey on

The coronavirus pandemic has been particularly cruel to brick-and-mortar retail establishments. As rising infection rates force municipalities to roll back reopening plans, retail and hospitality businesses that rely on...more

Seyfarth Shaw LLP

Bankruptcy Court Denies Debtors’ Motion to Abate Rent Due To COVID-19 Government Shutdown Orders

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On December 14, 2020, Judge Marvin Isgur of the United States Bankruptcy Court for the Southern District of Texas, issued an important decision in the CEC Entertainment, Inc. (Chuck E. Cheese) bankruptcy case, Case No....more

Jones Day

Business Restructuring Review | July–August 2020

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In This Issue: Eighth Circuit Rules that Bankruptcy Code's Cap on Lease Damage Claims Applies to Fraudulent Transfer Judgment - In Lariat Cos. v. Wigley (In re Wigley), 951 F.3d 967 (8th Cir. 2020), the U.S. Court of...more

Jones Day

Force Majeure Clause Triggered by Pandemic Shutdown Order Partially Relieves Chapter 11 Debtor from Timely Paying Postpetition...

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With their doors closed by mandatory government shutdown orders in effect until most states started gradually reopening in May and June, many businesses have found it difficult or impossible to satisfy their lease obligations...more

Farella Braun + Martel LLP

[Webinar] Real Estate Webinar Series - Dispute Resolution - September 1st - 3rd, 3:00 pm - 4:00 pm PT

As businesses in the real estate industry grapple with the fallout of the coronavirus pandemic, disputes are on the rise. Understanding your contractual rights early on can help you minimize your litigation risks and exposure...more

Goulston & Storrs PC

Court Partially Excuses Tenant’s Rent Obligations During COVID Shutdown

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In the social and economic fallout from COVID, businesses are assessing how best to address their commercial relationships, especially where potentially insurmountable barriers to performance loom large. One clause that...more

Gould + Ratner LLP

5 Things You Need to Know About the Recent Illinois Ruling on Force Majeure and COVID-19

Gould + Ratner LLP on

The first reported substantive ruling by a judge sitting in Illinois on the legal implications of whether COVID-19 and the resulting governmental shelter-in-place orders relieve a tenant’s obligation to pay rent pursuant to a...more

Hahn Loeser & Parks LLP

Illinois Bankruptcy Court Holds That Statewide Shutdown Order Triggered Force Majeure Clause

Earlier this month, the United States Bankruptcy Court for the Northern District of Illinois held that a force majeure clause in a lease partially excused a restaurant from paying rent after the restaurant closed as a result...more

King & Spalding

Energy Newsletter - June 2020

King & Spalding on

The Impact of COVID-19 on Nuclear Electricity Sales Contracts in France - The electricity sector, like numerous others in France, has been heavily affected by the economic shutdown due to the COVID-19 pandemic. The...more

Ballard Spahr LLP

Recent Bankruptcy Court Case the First to Provide Pandemic-Related Rent Relief to a Tenant Under a Force Majeure Clause

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The United States Bankruptcy Court for the Northern District of Illinois – Eastern Division recently held that a lease’s force majeure clause sustained a claim for rent abatement arising out of the COVID-19 pandemic. Both...more

Miller Canfield

Bankruptcy Court Says Force Majeure Clause Partially Excuses Rent Payment Due To COVID-19 Executive Order

Miller Canfield on

Restaurants, retail stores, and other businesses around the country have been uniquely hit by COVID-19 - and by the executive orders shuttering their in-person services that quickly followed in its wake. Recently, the United...more

Cohen & Gresser LLP

Illinois Bankruptcy Court Takes First Swing at Applying Force Majeure to Nonperformance Due to COVID-19

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With the onset of closures and quarantines early this year due to the spread of COVID-19, businesses across the country were confronted with the issue of how to perform their contractual obligations while they were unable to...more

Akerman LLP

Bankruptcy Courts Continue to Accept Equitable Arguments for Deferring Rent Payments During the COVID-19 Pandemic

Akerman LLP on

Previously we reported on debtors’ appeals to bankruptcy courts’ general equitable powers for assistance in weathering the COVID-19-induced economic storm. ...more

Seyfarth Shaw LLP

Membership Fee Refund Class Actions Hitting the Office, the Gym, the Club, and the Park

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One of the immediate legal trends arising from the shut down of all non-essential activities has been disputes concerning consumer refunds, with many class action suits against professional sports leagues, ticket brokers,...more

Epstein Becker & Green

“Employees Won’t Sue Over Alleged Wage-Hour Violations Occurring During the COVID-19 Crisis!” – and Six Other Myths

Epstein Becker & Green on

Let me be the millionth person to say that we are living in unprecedented times. Well, unless you count the Spanish Flu, which few of us probably dealt with as that was more than a century ago....more

Barnea Jaffa Lande & Co.

Legal Options for Israeli Companies Operating in the U.S.

COVID-19 has had an enormous impact on business relations around the world. This article specifically considers Israeli-founded companies with contracts governed by U.S. law, or that have business operations or assets within...more

Skadden, Arps, Slate, Meagher & Flom LLP

COVID-19 Entertainment Update: Guidance for Entertainment Companies

The global coronavirus (COVID-19) crisis continues to have a devastating impact across all segments of the entertainment industry. The cancellation or postponement of film and television productions, concerts, sporting...more

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