SDNY Chooses “Time Approach” to Calculating Lease Termination Damages Collectible Against a Bankrupt Estate
Introduction - Despite the parties’ best intentions at the beginning of a commercial lease, landlords will inevitably encounter tenants in financial distress. Ultimately, some tenants will seek protection in bankruptcy,...more
In the glow of negotiating a commercial lease, no landlord or tenant wants to think about how it might end early. But recent developments again remind us that a nuanced termination clause will significantly affect if, when...more
In this lease termination case (Pruett v. River Land Holdings, LLC, No. 03-22-00478-CV, 2024 WL 1745652, at *1 [Tex. App.—Austin Apr. 24, 2024, no pet.]), the Austin Court of Appeals was tasked with examining a cessation of...more
If the tenant and/or its tenant estoppel is important, consider asking them to alert you immediately if they have concerns about meeting response obligations. Your pending refinance or sale may go smoother if you are in...more
California’s Commercial Tenant Protection Act (SB 1103) now provides commercial tenants who operate small businesses with new legal protections of which property owners, managers and brokers must be aware. Failure to comply...more
Although the COVID-19 pandemic has ebbed from the daily lives of workers, its impact on hybrid work continues. While no consensus has emerged, the hybrid work model, which requires splitting the work week between going into...more
Commercial leases are a critical source of income and financial stability for property owners, but the current evolving economic environment presents many risks. One of the primary concerns is when a tenant falls behind on...more
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
The commercial real estate market in the United States is undergoing a profound shift as building vacancy increases in most major markets and as trillions of dollars of financing are coming due in 2024....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
The North Carolina Court of Appeals this week addressed an important issue involving leases, options to renew, and the North Carolina recordation statutes known as the “Connor Act.” The decision affects anyone who buys or...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
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
Aside from the contractually agreed upon early termination clauses (whether fault-based or based upon economics, business needs or other factors) and a landlord’s statutory remedy of terminating a lease due to non-payment of...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
With the new normal of work-from-home employees and hybrid work options, many nonprofit executives are querying what to consider when deciding whether and how to shed space. Join our live webinar conversation about: -...more
You are a landlord of business premises. You have owned the premises for more than five years. You have granted a lease of your premises to T, which is protected by the Landlord and Tenant Act 1954....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
The United States District Court for the Southern District of New York (the “Court”) decided in Gap Inc. v. Ponte Gadea N.Y. LLC on March 8, 2021 that a retail tenant will not be able to use the COVID-19 pandemic as an excuse...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