The Coronavirus Aid, Relief, and Economic Security (CARES) Act was signed into law March 27th and is now considered yesterday’s news as we have come to realize that no amount of government stimulus will effectively bail out businesses and individuals affected by COVID-19.  In my last blog I projected  a significant increase in bankruptcy filings as a result of COVID-19 and social distancing measures. The past few months bankruptcy filings have increased with many large…
Rental issues surrounding the fallout of COVID-19 continue to pile up. Last month, I wrote about the deferred rental payments in recent retail bankruptcies. However, many landlords are grappling with tenants seeking to reduce rental obligations as a result of COVID-19 via a clause contained in many (but not all) real estate leases—the force majeure clause.[1]