The landlord argued that the force majeure clause did not apply at all for three primary reasons. The Bankruptcy Court rejected each of the landlord’s arguments.
USA, Insolvency & Restructuring, Litigation, Real Estate, Duane Morris LLP, Landlord, Force majeure, Coronavirus, Paycheck Protection Program, Title 11 of the US Code
In light of the COVID-19 crisis, a Grand Ducal Regulation was published on 25 March 2020 (the Regulation)[1] that suspends certain procedural deadlines applicable in civil and commercial matters during the Luxembourg state of crisis. The Ministry of Justice has clarified that this suspension also relates to insolvency matters.