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Law firms are rising to the challenges laid upon them and responding to swiftly maintain business continuity by shifting operations to remote working, and procuring the technology and equipment that’s required to put it all together and provide uninterrupted legal services to their clients. It is an enormous undertaking and will continue to have ebbs and waves of deployment, learning new systems, and responding to new information as workflow and client needs become clearer.
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Commercial Lease Requirements During the Pandemic
By Terrence Dunn
Can a commercial tenant that is required to be closed during the COVID-19 pandemic be relieved of, or does it have a defense to, the obligation to continue to pay rent? The short answer is possibly yes, but the situation is unprecedented and the answer may have to be determined in litigation.
COVID-19: Should Landlords Apply Security Deposits to Unpaid Rents?
By Ira Fierstein
There are currently several bills in various stages of being passed into law in several states as of early April, which would restrict, on a temporary basis, the eviction of commercial tenants from their leased premises for failure to pay rent, Whether these bills get signed into law and survive judicial scrutiny remains to be seen. The question then is whether a landlord may enforce the security deposit section of its lease and take the deposit should the tenant miss a rent payment.
Personal Guaranty of Commercial Lease Held Discharged in Guarantor’s Bankruptcy
By Andrew C. Kassner and Joseph N. Argentina Jr.
As we prepare for the anticipated increase in bankruptcy filings caused by the COVID-19 pandemic's impact on the economy, many practitioners are trying to compare this to the savings and loan crisis of the late 1980s. One of the issues that keeps coming up cycle after cycle is whether a personal guaranty of a commercial lease is discharged in the bankruptcy of the individual guarantor. Court decisions have split on this issue for years.
What a Difference 3 Months Can Make
By Lisa Brown
The coronavirus has brokers guessing as to how this will affect leasing in the short term, and a report says leasing activity is likely to have a degree of decline in transaction volumes compared to pre-crisis expectations
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