Reprinted from the January 2017 issue of ALI CLE's The Practical Real Estate Lawyer.
Sophisticated commercial landlords and tenants are familiar with a tenant’s right to reject its lease when it files for bankruptcy. When the debtor-tenant rejects its lease, it negates its future obligations under the
lease and leaves the landlord holding an unsecured claim for unpaid prepetition rent, a claim that typically yields pennies on the dollar, if anything at all. More >