Commercial Tenant Bankruptcies and Unexpired Leases: Protecting Landlord and Debtor Interests
Recording of a 90-minute CLE video webinar with Q&A
This CLE course will guide bankruptcy practitioners through the maze of time-sensitive and strategic decisions to be made when a commercial tenant files bankruptcy interrupting the landlord’s income stream. The panel will review Bankruptcy Code section 365’s specialized procedures, enhanced protections for certain landlords, current issues related to the tenant-debtor’s post-petition rent and other obligations, rejection damages issues, and best strategies for both sides in weathering recent real estate cycles.
- Debtor's lease obligations during a bankruptcy case
- The deadline for the debtor to assume, assume and assign, or reject leases
- Assumption and assumption and assignment of leases: cure of defaults and adequate assurance of future performance
- Assumption and assumption and assignment of leases: additional protections for shopping center leases
- Rejection of leases: 502(b)(6) cap on damages
The panel will review these and other crucial questions:
- Is a debtor obligated to pay the amounts due as specified in its leases during a bankruptcy case? What if there are insufficient funds to satisfy other post-petition administrative expenses?
- Which defaults have to be cured for a debtor to be permitted to assume or assume and assign a lease? Which don't?
- What does the court look for in determining whether a debtor has provided adequate assurance of future performance in connection with the assumption or assumption and assignment of a lease?
- How has the COVID-19 related extension of a debtor's deadline to assume, assume and assign, or reject its leases impacted the negotiations between the parties? What advantages do landlords have in these negotiations?
Robert L. LeHane
Kelley Drye & Warren
Mr. LeHane focuses his practice on corporate restructuring, creditors’ rights and landlord representation in... | Read More
Mr. LeHane focuses his practice on corporate restructuring, creditors’ rights and landlord representation in retail bankruptcy cases. He regularly represents shopping center owners and management companies, secured and unsecured creditors, creditors’ committees and lenders, within and outside of the bankruptcy context.Close
Senior Vice President
Hilco Real Estate
Mr. O’Brien provides Hilco Real Estate clients nearly twenty years of experience in the commercial real estate... | Read More
Mr. O’Brien provides Hilco Real Estate clients nearly twenty years of experience in the commercial real estate industry, focusing on strategic planning, asset analysis, and the optimization of brick & mortar positioning within varying marketplaces. For the past nine years, he has been with Hilco Real Estate, working with clients across the U.S. and Canada to restructure real estate portfolios, inside and outside of the bankruptcy process.Close
Jennifer D. Raviele
Kelley Drye & Warren
Ms. Raviele focuses her practice on bankruptcy – specifically on representing creditors in Chapter 11 and Chapter... | Read More
Ms. Raviele focuses her practice on bankruptcy – specifically on representing creditors in Chapter 11 and Chapter 7 bankruptcy proceedings and out-of-court restructurings.Close