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Section 365 of the Bankruptcy Code grants debtors the ability to assume or reject any executory contract or unexpired lease. Debtors must assume or reject a lease in its entirety and are not free under Section 365 to assume only favorable provisions of a lease. See, In re Village Rathskeller, Inc., 147 B.R. 665, 671 (Bankr. S.D.N.Y. 1992). Courts, however, have consistently held that they will not find a multi-property master lease to be a unitary lease merely because such properties are demised in a single document. See, e.g., In re Buffets Holdings, 387 B.R. 115, 120 (Bankr. D. Del. 2008).
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By Marisa L. Byram and Garrett L. Kinkelaar
Keystone Specialty Services Co. v. Ebaugh
Practitioners should take note that depending on the jurisdiction, a well-drafted exculpatory clause may afford additional protections to a commercial landlord, even from its own negligent acts.
By Jessie Yount
Real estate executives say the construction of the office of the future is well underway within the legal industry, despite a dip in leasing activity at the beginning of the year. However, there is a shift toward “densification,” as firms take advantage of favorable market conditions and make longer-term commitments.
By Steven M. Silverberg
In 2015, the U.S. Supreme Court applied strict scrutiny to a sign regulation as it related to directional signs placed by a local congregation that held services at different locations each week. The Court took another look at the issue of strict scrutiny relating to “off-premises” signs in the case of City of Austin, Texas v. Reagan National Advertising , in which the majority concluded that strict scrutiny should not apply to determining whether the off-premises sign regulations at issue violated the First Amendment.
By Paul Bergeron
The commercial real estate industry is having little trouble shrugging off today’s challenging economic situations and its optimism is brewing with recent pandemic restrictions being lifted, according to a state of the market survey from DLA Piper.