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By the time most businesses decide they need additional space to accommodate their growing operations, it is too late. While there is something gratifying about organic growth emblemized by folding tables in a conference room and triple occupant cubicles, the commercial leasing process is inherently stacked against tenants. This disadvantage is only compounded when the tenants are unprepared.
Leased Property in Bankruptcy: Residential vs. Non-Residential
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.
Anti-Forfeiture Statute Saves a Debtor’s Exercise of Option to Renew Lease
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.
By ssalkin
Slip-and-Fall Victim Cannot Recover from Landlord or Tenant
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