To align with congressional intent underpinning Section 365(d)(3), Judge Gravelle gave the landlord an administrative claim for base rent due after filing and before automatic rejection.
On remand from the Supreme Court and the Second Circuit, the district court decides that the Mall of America landlord isn’t entitled to more than the bargain it made with Sears in 1991.
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With large cities contemplating or trying to create "reimagined downtowns" following drastic declines in commercial tenancies, and drastic increases in un-used or under-utilized downtown/urban buildings, property owners may need to adapt to potential re-uses of their commercial properties, which may or may not include Bankruptcy Court involvement by way of landlord and/or tenant bankruptcies. This panel will address the practical and legal aspects of "reimagined downtowns," including with predictions on what cities will try to do to reinvigorate their downtowns over the next few years.
Participates will understand how landlords, tenants, landlords' lenders, and cities view their respective strengths and weaknesses, and may be able to work together to achieve best outcomes, in the current situation affecting urban commercial properties.
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