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On Nov. 27, 2017, the Marion County Superior Court in Indiana granted Simon Property Group, L.P. (Simon) a preliminary injunction prohibiting Starbucks Corporation from “(a) Failing to occupy and conduct business as usual in the leased premises for any of the Teavana stores at any Simon shopping center owned in whole or in part or managed by Simon, including any failure to be open and operating during normal business hours, as required by the Leases; and (b) Conducting, promoting, or advertising any fire, ‘going out of business,’ or similar sale, as prohibited by any of the Leases.” Simon Property Group, L.P. v. Starbucks Corporation, No.49D01-1708-PL-032170, 2017 WL 6452028, at 27 (Ind. Super. Nov. 27, 2017).
By Janice G. Inman
Bankruptcy is a fact of life in the United States. When it happens, the treatment of a lease as either residential or non-residential may be crucial to all parties -- landlords, tenants, subtenants and their counselors.
By Barry M. Klayman and Mark E. Felger
In a recent decision, Bankruptcy Judge Christopher S. Sontchi addressed the question of whether a Chapter 11 debtor, the tenant under a commercial lease, could exercise an option to renew the lease during the bankruptcy proceedings, even though the debtor was in default under the lease and the lease specified that it could not be renewed if defaults existed at the time the option was exercised.
By David B. Saxe and Danielle C. Lesser
Is This The End of the ‘Yellowstone’ Doctrine?
Recently, New York’s Appellate Division, Second Department, acknowledged that commercial landlords may employ a strategy that prevents tenants from exercising Yellowstone rights, which enjoin the landlord from terminating the lease or commencing a summary proceeding.
Slip-and-Fall Victim Cannot Recover from Landlord or Tenant