Commercial Landlord Bankruptcies: Landlord and Tenant Rights and Obligations; Considerations for Real Estate Counsel
Recording of a 90-minute premium CLE video webinar with Q&A
This CLE webinar will provide guidance to real estate counsel on how to best advise their clients, either landlord or tenant, on what to do if a commercial landlord must file for bankruptcy. The panel will provide an overview of the bankruptcy process as it relates to commercial real estate and discuss what, if any, up-front drafting considerations for commercial leases may best prepare the parties for this possible outcome. The panel will address ongoing landlord and tenant obligations and tenant rights, as well as best practices for navigating a landlord's bankruptcy.
Outline
- Introduction to the bankruptcy process
- Automatic stay
- Lease assumption
- Lease rejection
- Assignments, sales, and auctions
- Security deposits
- Other considerations
- Landlord options, obligations, and consequences for tenants
- Chapter 7
- Chapter 11
- Chapter 13
- Tenant rights and obligations
- Tenant rights under Bankruptcy Code Section 363 vs. Section 365
- Ongoing lease obligations
- New landlord
- Steps tenants should take to protect themselves
- Lease considerations
- Up-front drafting considerations to best prepare for a bankruptcy
- Rights under the lease in case of a landlord's bankruptcy
- Best practices for navigating a landlord's bankruptcy
Benefits
The panel will review these and other important issues:
- What protections does the Bankruptcy Code afford landlords and tenants if a landlord files for bankruptcy?
- What ongoing obligations does a landlord have to their tenants after the landlord files for bankruptcy?
- What are the tenants' rights and obligations once their landlord files for bankruptcy?
- How can a tenant best protect themselves in case a landlord files for bankruptcy?
Faculty
Harold D. Israel
Partner
Levenfeld Pearlstein
Mr. Israel represents debtors, asset purchasers, secured lenders, creditors and official creditor committees in... | Read More
Mr. Israel represents debtors, asset purchasers, secured lenders, creditors and official creditor committees in workouts (in- and out-of-court) and reorganizations throughout the country. Additionally, he represents lenders and equity sponsors in asset-based lending, foreclosure, and debtor-in-possession financing transactions. Mr. Israel also assists not-for-profit organizations in drafting corporate governance documents. He is a past Chair of the Chicago Bar Association’s Bankruptcy and Reorganization Committee and is a past president of the Chicago/Midwest Chapter of the Turnaround Management Association.
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A.J. Webb
Partner
Frost Brown Todd
Mr. Webb counsels companies facing varying degrees of financial uncertainty and distress, working to proactively... | Read More
Mr. Webb counsels companies facing varying degrees of financial uncertainty and distress, working to proactively identify and assess insolvency issues. He represents parties (secured/unsecured creditors, debtors, committees, purchasers, and borrowers) in all phases of bankruptcy and insolvency proceedings, with an emphasis on selling or acquiring distressed assets and assisting parties in restructurings or out-of-court workouts. Additionally, Mr. Webb counsels clients on general corporate and commercial matters and has also prosecuted or defended numerous avoidance actions. He has represented clients throughout the country in debtor, committee, senior secured lender, distressed acquisition, and retail/landlord engagements.
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