A lease agreement may contain a clause that prohibits on-site liquidation, or bankruptcy sales. Many landlords believe that on-site sales will cause
Tenant Insolvency: Landlord’s Claim
The BIA provides landlords with a preferred claim for arrears of rent in the three months immediately preceding the date of bankruptcy and a claim for
Tenant Insolvency: What is Rent
The Trustee is obligated to pay “rent” only. The lease agreement should be read carefully to determine what is included in the calculation of rent.
Tenant Insolvency: Priority over Bailiff
Commercial tenants who are behind in their rent payments are subject to having the landlord seize their inventory or other chattels. The landlord will
Landlord Insolvency: Using a Bailiff
When a landlord is considering distraining or terminating a tenant’s occupancy, he is likely to use the services of a bailiff. The distress against or
Tenant Insolvency: What Happens When the Wrong Goods are Sold?
Occasionally we do not receive any assistance from the debtor in determining which assets, if any, do not belong to them. The BIA allows for a person
Tenant Insolvency: Proposals
Upon filing a proposal, or between the date of the filing of a Notice of Intention to File a Proposal and the filing of the proposal, a commercial
Tenant Insolvency: Property on the Premises
The Courts have found that property on the premises includes only those goods and chattels capable of being located physically on the premises, in
Tenant Insolvency: Right to Retain, Assign or Disclaim Lease
The CTA provides that a Trustee has the right to assign the lease of a bankrupt to a third party. If the lease contains a covenant or condition that