In Dhillon v Barclays Bank plc [2020] EWCA Civ 619, Mrs Dhillon sought rectification of the Land Register to remove a charge granted following a fraudulent transfer. The property was now worth over a million-pounds. The sum secured by the charge was over £600,000.
This is part of our Commercial Real Estate Finance COVID-19 Impact Series, which is aimed at providing informed and real-time guidance tailored to various sectors of commercial real estate owners. In the context of recent bankruptcy filings by national shopping center tenants, this article examines the interplay between a tenant bankruptcy and a landlord’s obligations under its loan documents.
The next article in our Commercial Real Estate Finance COVID-19 Impact Series looks at landlord/tenant issues arising from the COVID-19 pandemic through the lens of our Bankruptcy and Restructuring Practice Group, providing informed and real-time guidance tailored to various sectors of commercial real estate owners. In the context of recent bankruptcy filings by national shopping center tenants, this article highlights key areas for consideration when a tenant files bankruptcy and what steps landlords can take to be proactive in these circumstances.
The recent outbreak of Covid-19 pandemic has had grave effects on people’s life as well as the economy in almost every country in the world, including Vietnam.
Recognizing the negative impacts of the pandemic on the economy, as well as the considerable difficulty of businesses in solving crises arising during this period of time, Apolat Legal publishes the “A legal handbook for businesses the COVID-19 pandemic” to provide a useful legal reference that businesses can apply to solve difficulties during this period.
In recent decisions involving accessories retailer Colette Group and Virgin airlines, the Federal Court of Australia found that the extraordinary circumstances of COVID-19 warrant a grant of relief for the administrators from personal liability for rent.
In both cases, the Court acknowledged the uncertainty caused by COVID-19 and found that the rent reprieve for the administrators was in the best interests of the creditors as a whole.
colette group
Client Alert
On May 7, 2020, New York Gov. Andrew Cuomo enacted Executive Order No. 202.28, which extended and expanded — but in some cases narrowed — the temporary suspension of several New York state laws due to the COVID-19 crisis. The Executive Order impacts many industries and individuals in New York state, including both commercial and residential landlords and tenants.
Background: Financial Backdrop
The Stats
After Pier One Imports filed for Chapter 11 on February 17, 2020, the company expected to move quickly through a process to approve a consensual reorganization plan.
The Bottom Line
In Lariat Cos. v. Wigley(In re Wigley), Case No. 18-3489 (8th Cir. March 9, 2020), the Eighth Circuit held that a claim against Debtor B that arose out of a fraudulent transfer made by Debtor A to Debtor B was subject to the statutory cap applicable to lease rejection damages where Debtor A’s underlying liability was premised on its breach of a lease.
What Happened?
In our latest installment of our series “Bankruptcy On Ice”, we tackle temporary suspension of bankruptcy proceedings in response to the closure of “non-essential businesses” and other critical protective measures being imposed to fight the spread of COVID-19.