The COVID pandemic has given rise to efforts by lessees of retail space to seek to defer rent payments in the context of chapter 11, despite the seemingly clear command of Section 365(d)(3) of the Bankruptcy Code requiring timely performance of all obligations arising under leases of nonresidential real property. Several recent decisions have, to varying degrees, granted such relief on a temporary basis. This Alert describes several noteworthy cases in U.S. Bankruptcy Courts in various districts around the country. The Alert can be found here.
Client Alert: Lease Obligations During Bankruptcy Proceedings: Recent Noteworthy Court Decisions – July 3, 2020
