United States:
David Mawhinney Writes "Understanding Landlord And Tenant Rights In Bankruptcy" For Banker & Tradesman
02 June 2020
Bowditch & Dewey
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Banker & Tradesman has published
"Understanding Landlord and Tenant Rights in Bankruptcy"
by David Mawhinney. In light of the impact of the initial wave of
COVID-19, commercial lease restructuring is expected to be crucial
in business survival. Below is an excerpt from the article
discussing some of the options tenants may have if their business
files for Chapter 11 protections.
First, the bankruptcy code overrides automatic termination
provisions that are triggered with the bankruptcy filing. Second,
the tenant can reject a burdensome lease and pay the landlord what
might be a fraction of the liquidated damages under the
contract.
Continue reading the full article in
Banker & Tradesman.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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