SDNY Chooses “Time Approach” to Calculating Lease Termination Damages Collectible Against a Bankrupt Estate
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
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
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
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