Commercial Landlord Tenant Issues in Bankruptcy — Especially During the Pandemic
Introduction Commercial tenants are defaulting at a faster rate due to the pandemic. But whether we are in a pandemic or not, commercial landlords need to know what to [...]
The Necessity for Co-Tenancy and Other Related Clauses
The retail apocalypse began long before COVID-19 . With many retailers already over-leveraged and shopping patterns changing, retailers were already shuttering stores, seeking a reduction in rent and/or filing bankruptcy. [...]
Some Debts Are Not Dischargeable in Bankruptcy
It’s a common misconception that if someone files bankruptcy, all claims against them will be discharged leaving few assets to be split between creditors. In fact, several kinds of [...]
Bankruptcy Usage of Key Employee Retention Plans and Key Employee Incentive Plans
Introduction Creditors in mega-bankruptcies and people in general are up in arms over the ridiculous bonuses companies are giving their “key” employees and executives -- styled as “retention bonuses.” [...]
Get Out of Jail Cards for Leveraged Buyout Fraudulent Transfers
Though the pandemic is the cause of the rising number of retail bankruptcies, major retailers were facing cash flow and insolvency issues prior to COVID-19. Many of them were [...]
The Retail Apocalypse Continues
Retailers are reporting that at least 4,300 stores will close in 2020 and that this number will increase. Prior to the pandemic, Cushman & Wakefield estimated that as many [...]
Mall of America Fails to Pay Mortage – Sign of Things to Come for Other Malls and Shopping Centers?
People talk about retail tenants being in financial disarray and filing bankruptcy, but what about our malls and shopping centers? They are hurting, too. If their tenants are not [...]
Bankruptcy Courts Allow Business Debtors to Defer Rent in Response to COVID-19
In re Pier I Imports Inc., 20-30805 (Bankr. E.D. Va. May 10, 2020) At least one bankruptcy court has crafted a remedy not otherwise addressed prior to the Coronavirus outbreak. [...]
COVID-19 and the Plight of the American Movie Theater
Americans have been going to the movies for more than a century, but for the first time in recent history, theaters are closed, and even if they open in [...]
The Case Study of Neiman Marcus and the Fate of Other Department Stores
While the notorious fashion icon, Neiman Marcus, may be the first among retailers to succumb to the economic impact of COVID-19, the virus was only the final straw in [...]
