SDNY Chooses “Time Approach” to Calculating Lease Termination Damages Collectible Against a Bankrupt Estate
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
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
Senate Bill 1103 (“SB 1103”), effective January 1, 2025, imposes new requirements on landlords leasing commercial space to certain “qualifying commercial tenants” (“QCT” or “QCTs”). Below is a summary of what you need to...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
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
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 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
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
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
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
What actions are available to the landlord in the event of COVID-19-based rent payment defaults? As a result of the legal amendments on German tenancy law that were passed in March 2020 in connection with the COVID-19...more
Seyfarth Synopsis: On May 22, 2020, the California Senate’s Judiciary Committee voted to approve an amended version of Senate Bill 939 Emergencies: COVID-19: Commercial Tenancies: Evictions (“SB 939”)....more
Lease terminations may result in fraudulent transfer claims. Lease terminations should document that the tenant is receiving reasonably equivalent value in exchange for rent forgiveness, relinquishing the premises and...more
Is a Liquidated Damages Clause Enforceable? Rue21, Inc. v Los Lunas Inv’rs, LLC, no. 18-CV-715, 2019 WL 1375405(W.D.Pa. Mar. 27, 2019). Landlord executed a letter of intent with a fashion retailer tenant in 2015 for a...more
Leasing commercial space differs from renting a home. Whether you need office, retail, or industrial buildings for your business, commercial properties have their own unique issues, which must be addressed early on. A proper...more
In the world of eminent domain, compensation for “lost goodwill” is often a tricky and contentious issue. New opinions from the Court of Appeal addressing goodwill tend to get a lot of attention....more
In the current climate, all types of occupiers including occupiers of retail, office and warehouse space, will be considering their leasing requirements and looking to rationalise their property portfolios. As a result,...more
A commercial lease symbolizes a consensual relationship between parties that can be enduring and rewarding, or short-sighted and emotionally and financially taxing. Entering into a clearly drafted lease agreement at the...more