Landlord and Tenant Law: Commercial Tenant Bankruptcy Considerations

In today's uncertain economic climate, commercial tenants may find themselves with diminishing cash flows and limited resources to satisfy their obligations to their landlords, leaving both grappling with tough decisions, including whether to renegotiate the existing lease, terminate the lease or exercise other remedies upon default. This teleconference will explore the rights, remedies and strategies of landlords and tenants when presented with such a challenging situation and address how landlords can endeavor to maximize their recoveries while tenants may limit their exposure. Specifically, you'll get a step-by-step approach of the bankruptcy process as it impacts commercial leases, including the termination of leases; the assumption, assignment and rejection of such leases in bankruptcy; and enforcing contractually bargained for rights under such leases.

• Attorney with Foley & Lardner LLP in the Bankruptcy and Business Reorganizations and General Commercial Litigation Practices
• Practice consists of a wide range of litigation matters in multiple areas, including bankruptcy, corporate compliance and securities
• Represented several Fortune 500 companies embroiled in all aspects of large Chapter 11 cases in the past two years
• J.D. degree, University of Chicago
• Undergraduate degree, University of Illinois
• Can be reached at 312-832-4557 or jlee@foley.com

• Partner with Foley & Lardner LLP, and a member of the Bankruptcy and Business Reorganizations and Real Estate Practices
• Chairs the Distressed Real Estate Initiative and heads the Bankruptcy and Business Reorganizations Subprime Lender Task Force as well as the Homebuilder/Developer Task Force
• Admitted to practice in New York and Illinois
• Board certified as a business bankruptcy specialist by the American Board of Certification* and an adjunct professor of law at Washington University in St. Louis, teaching a course on advanced corporate restructuring
• Rising Star in the field of bankruptcy in Illinois Super Lawyers 2008 – Rising Stars Edition
• Author, “Key Considerations for Commercial Landlords When Faced With a Tenant’s Bankruptcy,” The Real Estate Finance Journal, Fall 2007; co-author, “The Importance of Full Disclosure in Seeking Success Fees under § 328(a): How Engaging is Your Engagement Letter?” American Bankruptcy Institute Journal, April 2007; and author, “Seventh Circuit Addresses Chapter 7 Trustee’s Ability to Serve as Class Action Representative,” American Bankruptcy Institute’s Cracking the Code, August 22, 2003
• J.D. degree, University of Illinois
• Undergraduate degree, University of Chicago
• Can be reached at 312-832-4522 or jnicholson@foley.com

• CLE (Please check the "Detailed Credit Information" page for states that have already been approved)
• CPE
• Additional credit may be available upon request. Contact Lorman at 866-352-9540 for further information.