Retail Leases: Restructurings, Subleases, & Insolvency - 2019

Originally presented on September 20, 2019

The cardinal goal of leasing is certainty.  Landlords and their lenders want stable, long-term tenants and reliable, predictable rent payments.  Tenants want stability and predictability, too.  So, when one of the parties becomes insolvent or goes bankrupt, those carefully laid financial and operational plans go awry and new costs enter the equation.  The crisis in the bricks-and-mortar retail industry has brought these issues into sharp relief again.  Landlords and tenants must grapple with what rights each have, how and when they may be asserted, and how they can preserve value in the lease.  Part of this is a function of what the lease, part is a function of what the law requires. This program will provide you with a real-world guide to planning for insolvency in commercial leases - and what to do after it's happened.

• Drafting leases to mitigate losses in event of lessee default
• Remedies for landlords on lessee default 
• Renegotiation strategies for distressed lessees 
• Bankruptcy issues in leasing 

Speakers: Anthony Licata, Taft Stettinius & Hollister LLP, Chicago, IL and Dov V. Frankel, Taft Stettinius & Hollister LLP, Cleveland, OH

NOTE: This program was originally produced as a telephone seminar and is available on demand in streaming audio. This material qualifies for self-study credit only. Pursuant to Regulation 15.04.5, a lawyer may receive up to six hours of self-study credit in a reporting year. Self-study programs do not qualify for ethics or elimination of bias credit.