Tag Archives: lease

Exclusivity and Tenant Mix: The Case of the Missing Shopping Center

In re Toys “R” Us Prop. Co. I, LLC, 598 B.R. 233 (Bankr. E.D. Va. 2019) – The debtor proposed to assume and assign a lease to a discount grocer. The landlord objected based on the fact that a discount grocery … Continue reading

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Landlord Bankruptcy: A Tenant Is Not Out of Options If the Landlord Rejects Its Lease

IDEA Boardwalk, LLC v. Revel Entertainment Group, LLC (In re Revel AC Inc.), 909 F.3d 597 (3rd Cir. 2018) – A tenant that elected to retain its rights under a commercial lease after a debtor landlord rejected the lease sought clarification … Continue reading

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Shopping Center Leases: Some Ins and Outs of Use and Exclusivity Provisions

Toys “R” Us, Inc., 587 B.R. 304 (Bankr. E.D. Va. 2018) – The debtors sought court approval of the assumption and assignment of a shopping center lease. The landlord objected on the grounds that the assignment would not comply with exclusivity … Continue reading

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Leases: Prepetition Termination May Be A Get Out of Bankruptcy Free Card – Or Not

In re Indiana Hotel Equities, LLC, 586 B.R. 870 (E.D. Mich. 2018) – The debtor leased nonresidential real property under a lease that was terminated before the bankruptcy petition was filed. The lessor filed a motion seeking a bankruptcy court order … Continue reading

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Pre-Bankruptcy Lease Termination for Default: Will That Allow the Landlord to Escape Bankruptcy?

In re Chase Monarch Int’l. Inc., 581 B.R. 715 (Bankr. D Puerto Rico 2017) – A landlord sought immediate surrender of commercial leased premises on the basis that the lease was terminated prior to bankruptcy so that the debtor had no … Continue reading

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Landlord Liens: When Is Waiver and Subordination Not Waiver and Subordination?

Franklin County Area Dev. Corp. v. Edge Pennsylvania, LLC (In re Edge Pennsylvania, LLC), 580 B.R. 120 (Bankr. M.D. Pa. 2017) – A commercial landlord brought a state court action to determine the priority of its landlord lien versus a lender’s … Continue reading

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The Nonexistent Debtor and Indefinite Contract Terms: Better to Dot the I’s and Spell Out the Agreed Upon Terms

In re Delaware Sports Complex, LLC, 573 B.R. 543 (Bankr. D. Del. 2017) – The debtor, a limited liability company, purportedly entered into a ground lease before it was formed. The bankruptcy court considered the validity of the lease, whether the … Continue reading

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