COURSE DESCRIPTION
The cardinal goal of leasing is certainty. Landlords and their lenders want stable, long-term tenants and reliable, predictable rent payments. Tenants want stability and predictability, too. So, when one of the parties becomes insolvent or goes bankrupt, those carefully laid financial and operational plans go awry and new costs enter the equation. The crisis in the bricks-and-mortar retail industry has brought these issues into sharp relief again. Landlords and tenants must grapple with what rights each have, how and when they may be asserted, and how they can preserve value in the lease. Part of this is a function of what the lease, part is a function of what the law requires. This program will provide you with a real-world guide to planning for insolvency in commercial leases - and what to do after it's happened.
- Drafting leases to mitigate losses in event of lessee default
- Remedies for landlords on lessee default
- Renegotiation strategies for distressed lessees
- Bankruptcy issues in leasing
Speakers:
Anthony Licata is a partner in the Chicago office of Taft Stettinius & Hollister LLP, where he formerly chaired the firm’s real estate practice. He has an extensive practice focusing on major commercial real estate transactions, including finance, development, leasing, and land use. He formerly served as an adjunct professor at the Kellogg Graduate School of Management at Northwestern University and at the Illinois Institute of Technology. He speaks extensively on real estate topics nationally. Mr. Licata received his B.S., summa cum laude, from MacMurray College and his J.D., cum laude, from Harvard Law School.
Dov V. Frankel is of counsel in the Cleveland office of Taft Stettinius & Hollister LLP, where he represents companies and individuals in bankruptcy and receivership proceedings, as well as out-of-court restructurings and workout matters. He represents lenders, creditors, buyers and landlords across the country, including defense and adversarial proceedings. He is also a contributing author to Norton’s Annual Survey of Bankruptcy Law and a member of the American Bankruptcy Institute. Mr. Frankel earned his undergraduate degree from Ner Israel Rabbinical College and his J.D. from the University of Maryland School of Law.