Commercial Leases In Economic Distress: Pre- and Post-Bankruptcy Strategies for Landlords
Negotiating Lease Modifications With Distressed Tenants, Participating in the Bankruptcy Process
Recording of a 90-minute premium CLE video webinar with Q&A
This CLE course will guide landlord counsel in handling the critical legal issues that arise before and after a tenant files for bankruptcy. The panel will outline commercial landlords' strategies to protect their interests and maximize recovery under state law and the Bankruptcy Code.
Outline
- Commercial tenant COVID-19 rent relief agreements and bankruptcy: current trends
- Legal issues arising when a commercial tenant files for bankruptcy
- Automatic stay
- Ipso facto clauses
- Assumption or rejection of a lease
- Anti-assignment lease provisions
- Post-petition performance
- Proofs of claim
- Best practices for mitigating the risk of loss
- Pre-petition rent relief, repossession, or termination of the lease
- Enforce rights to receive current rent before bankruptcy or to compel post-petition rent payment or obtain relief from stay to repossess premises
- Security deposit setoffs and draws on letters of credit
- Get appointed to creditors' committee
- Strategies when beginning a lease
Benefits
The panel will review these and other key questions:
- What trends are developing in commercial tenant leases as a result of the current economic crisis?
- What provisions should landlords consider in negotiating and drafting leases or lease modifications to protect against potential losses due to tenant bankruptcy?
- What rights does the Bankruptcy Code give commercial landlords and tenants?
- What are the best and most cost-effective practices for a commercial landlord to pursue when a tenant files for bankruptcy protection?
Faculty
Michael J. Riela
Partner
Tannenbaum Helpern Syracuse & Hirschtritt
With more than 15 years of experience, Mr. Riela advises companies on complex restructuring, distressed M&A, loan... | Read More
With more than 15 years of experience, Mr. Riela advises companies on complex restructuring, distressed M&A, loan transactions and bankruptcy related litigation matters. He has in-depth experience in advising clients on corporate and real estate bankruptcies, workouts, Chapter 11 and Chapter 7 bankruptcy cases, debtor-in-possession and bankruptcy exit loan facilities, secondary market trading of distressed debt and trade claims, Section 363 sales and bankruptcy retention, and fee agreements and disputes.
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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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