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Features
COVID-19 Related Governmental Shut Down Order Triggers Force Majeure Provision In Restaurant Leases
Marisa L. Byram
As we all expected, cases are being brought and decided on the issue of whether the COVID-19 pandemic and related governmental shut down orders trigger force majeure clauses in commercial leases and operate to excuse the performance of commercial tenants. While force majeure clauses vary widely, a recent decision from an Illinois Bankruptcy Court may provide guidance to help resolve disputes without resorting to the courts.
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Features
NYC Law Providing Relief for Commercial Tenants Faces Constitutional Scrutiny
Ian Steinberg
New York City Mayor Bill de Blasio delivered another striking blow to property owners when he signed into law N.Y.C. Council Int. No. 1932-A (2020) on May 26, 2020. The new legislation prohibits landlords from enforcing personal guaranties on certain commercial leases for defaults occurring between March 7, 2020 and Sept. 30, 2020.
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Features
New York’s Commercial Lease Defenses to Paying Rent
Adam Leitman Bailey and Dov Treiman
Not including what may have been negotiated in a commercial lease, there are three traditional theories under which commercial tenants could seek to assert entitlement to forgiveness of their rent: frustration of purpose, impossibility of performance, and force majeure.
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Features
Commercial Real Estate Market Lags Behind Residential Rebound
Phillip Bantz
National Association of Realtors Survey Shows Most Commercial Tenants Struggling to Pay Rent
While the residential real estate market is experiencing what appears to be a swift rebound from the coronavirus-induced slump, the commercial landscape still looks relatively bleak.
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Features
Several members of Commercial Leasing Law & Strategy’s Board of Editors and contributors to Law.com and our ALM sibling GlobeSt.com took part in a Twitter chat on “Do We Need Offices Anymore?”
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Features
Upcoming Webinar: Does COVID-19 Trigger Force Majeure? Navigating the Legal and Business Issues
Join Corporate Counsel Editor in Chief Heather Nevitt and international lawyer Lisa Richman in a discussion about the practical implications of force majeure in making business decisions state-by-state and across the globe.
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