Call 855-808-4530 or email [email protected] to receive your discount on a new subscription.
The Bankruptcy Code provides a Chapter 11 debtor a powerful commercial lease tool to aid its restructuring efforts. A debtor may assume valuable real estate leases, and reject onerous ones. As explained below, a debtor’s time to assume commercial leases under which it is a lessee is limited to either 210 or 300 days from the date of the bankruptcy filing, unless the landlord consents to further extensions. The Bankruptcy Code further provides that a debtor’s failure to assume a commercial lease before expiration of this time limit results in the lease being “deemed rejected,” requiring the debtor to surrender immediately possession of the leases premises.
*May exclude premium content
By Erich N. Durlacher
With the recent economic turbulence and pessimism, prudent lenders should be bracing themselves for the coming storm by adopting a five-point “CAPER” strategy: Communicate, Analyze, Preserve, Execute, and Resolve.
By Peter E. Fisch and Salvatore Gogliormella
Specific performance is an important remedy in real estate transactions, however, it is disfavored by the courts and under certain circumstances (particularly in the case of sale-leasebacks), a specific performance clause, even if properly drafted, may not be enforced by the courts.
By Paul A. Rubin and Hanh V. Huynh
A recent decision in a Chapter 11 bankruptcy case in the U.S. Bankruptcy Court for the Southern District of New York highlights the significant impact that a 2019 amendment to the New York Real Property and Procedures Law will have on future disputes in bankruptcy cases where the tenant files for bankruptcy after the issuance of a warrant of eviction but before its execution.
By Aaron L. Pawlitz
This article provides an overview of the most commonly-accepted purposes of an RWI policy and an overview of the RWI policy underwriting process.