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A bankruptcy court gave “unnecessary and likely incorrect” reasoning to support its “excessively broad proposition that sales free and clear under [Bankruptcy Code (“Code”)] Section 363 override, and essentially render nugatory, the critical lessee protections against a debtor-lessor under [Code] 365(h),” said the U.S. Court of Appeals for the Fifth Circuit on Feb. 16, 2022. In re Royal Bistro, LLC, 2022 WL 499938, *1-*2 (5th Cir. Feb. 16, 2022). The court still denied the lessees’ “motion for a writ of mandamus” for a “stay pending appeal” from a bankruptcy court order authorizing the trustee’s sale of “the debtor’s real property … free and clear” of the lessees’ interests. Id. at *1. In essence, though, the Fifth Circuit signaled that it would not approve in later cases a bankruptcy court asset sale of real property that summarily cuts off the rights of the debtor’s lessees.
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Options for Commercial Property Owners With Distressed Assets
By William (Bill) Lobel
Cyclical challenges in the economy are nothing new, and 2022 is shaping up to be that kind of year for business owners nationwide. This is likely to result in a greater need for the services of bankruptcy attorneys as business owners face a mounting wave of distressed financial assets.
Effects of Inflation on Commercial Real Estate
By Steven J. Reed
While growth of the job market and the economy are the most important factors affecting commercial real estate, the emergence of historic rising inflation has its effects as well.
New Workplace Strategies for Commercial Real Estate Companies
By Kelsi Borland
Almost every company is rethinking workplace strategy in the wake of the pandemic — and commercial real estate companies, which are office users in their…
Questions of Fact About Liability for Broker Commission After Expiration of Brokerage Agreement
By Stewart E. Sterk
In an action to recover a brokerage commission, the Appellate Division affirmed a broker's appeal of denial of its summary judgment motion, holding that questions of fact remained about seller’s liability for a commission after expiration of the brokerage agreement.
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