Managing Lease Obligations with Bankruptcy in the Ongoing COVID-19 Crisis
Author: Eric E. Walker.; Kathleen Allare.
Source: Volume 37, Number 04, April 2021 , pp.62-65(4)
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Abstract:
In this article, the authors discuss recent cases in which the courts have dealt with debtors’ requests for rent deferrals beyond the 60-day period explicitly authorized in the Bankruptcy Code in light of the COVID-19 health crisis. The cases involved large businesses with extensive lease portfolios, but the authors suggest that the courts’ approach in such cases illustrates a flexibility that may also be extended to rent deferrals for smaller businesses.Keywords: Automatic Stay; Section 365(d)(3) Deferrals; Consolidated Appropriations Act (“CAA”)
Affiliations:
1: Perkins Coie LLP; 2: Perkins Coie LLP.