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Force Majeure Clauses, Bankruptcy, and Covid-19
Category: Bankruptcy, Restructuring & Creditor-Debtor Rights, Coronavirus (COVID-19)
COVID-19 has forced many businesses to temporarily close and absorb unforeseen significant profit losses based on governmental executive orders. Motivated by the pandemic’s economic fallout and the influx of bankruptcy filings, bankruptcy courts are now looking to equitable remedies, such as force…
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Bankruptcy Courts are Easing Traditionally Rigid Lease Payment Requirements for Commercial Tenants In COVID-Related Filings
Category: Banking, Bankruptcy, Restructuring & Creditor-Debtor Rights, Business, Coronavirus (COVID-19), Litigation
Bankruptcy courts in multiple jurisdictions have granted tenant-friendly relief to companies that have filed for Chapter 11 bankruptcy in recent months. While the Bankruptcy Code typically requires timely performance of lease obligations under 11 U.S.C. § 365, bankruptcy courts have employed…
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Assignment of Rents and Bankruptcy
Category: Banking, Bankruptcy, Restructuring & Creditor-Debtor Rights
If you are a lender whose collateral includes rents from an apartment building, shopping mall, or other income-producing property, you might want to check your loan documents to be sure that you have taken an absolute assignment of those rents. It could save you time, resources, and frustration if…
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The Between the Lines blog is made available by Mitchell Williams Law Firm and the law firm publisher. The blog site is for educational purposes only, as well as to give general information and a general understanding of the law. This blog is not intended to provide specific legal advice. Use of this blog site does not create an attorney client relationship between you and Mitchell Williams or the blog site publisher. The Between the Lines blog site should not be used as a substitute for legal advice from a licensed professional attorney in your state.