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Bankruptcy

  • By: Michael Kayam
  • Published: October 9, 2020

A little over a year ago, in August 2019, Congress passed an amendment to Chapter 11 of the Bankruptcy Code known as the Small Business Reorganization Act (the “SBRA”) creating a new Subchapter V for small businesses, which went into effect in February 2020.  In order to be eligible to file for bankruptcy under the SBRA, a company must have…Read More

  • By: Jared Steiner
  • Published: May 8, 2020

In light of the financial difficulties attributable to the COVID-19 pandemic, commercial tenants are increasingly defaulting on their rent payments. Landlords are limited in their options for recovering these payments due to the executive order prohibiting non-essential services, which has prevented service of rent demand notices and prevented courts from accepting new filings of nonpayment petitions. Given the unknown duration…Read More

  • By: Stephen M. Lasser
  • Published: January 10, 2020

Condo Charges: Dealing with Late Players [embed]https://vimeo.com/380050795[/embed]Read More

  • By: Stephen Lasser, New York Real Estate Journal
  • Published: November 20, 2018

[printfriendly] Auto-PDF Every commercial and residential lease should contain at least one conditional limitation. A conditional limitation is a lease provision that provides for the automatic termination of the lease upon a tenant’s failure to cure a default. In New York, most leases have separate and different conditional limitation provisions for non-monetary and monetary lease defaults, although frequently in both…Read More

  • By: Stephen M. Lasser, Article
  • Published: June 26, 2018

An issue that commercial landlords frequently have to address is tenants falling behind in their rent payments and then filing for bankruptcy protection. Once a tenant declares bankruptcy, an “automatic stay” goes into effect, which makes it illegal for the landlord to pursue eviction and collection efforts against the tenant except through the channels available through the tenant’s bankruptcy court…Read More