ABI is pleased to announce your 2008-2009 co-chairs, as well as the addition of five new leadership positions. These new positions are a result of your feedback regarding opportunities for involvement and advancement in the association.
Co-Chairs: Berry D. Spears
John F. Young
Education Director: Michael J. Goldberg
Listserve Moderator: Michael J. Gearin
Membership Relations Director: Jill L. Murch
Newsletter Editor: James C. Carignan
Special Projects/Task Force Leader: John P. Melko
Click here for contact informaton on your committee leaders.
Written by: Richard L. Ferrell
Taft Stettinius & Hollister, LLP; Cincinnati
For many businesses that operate in shopping centers, industrial complexes, office buildings or other leased property, nonresidential real property leases are often among the “crown jewels” of the company’s assets. Likewise, of critical importance to the owners and management agents of commercial real estate are the securing and maintaining of profitable, long-term, quality tenants and the shedding of tenants whose financial health has declined or who otherwise no longer fit with the lessor’s current or long-term plans for the real estate in question. It is almost inevitable that in many instances, the goals of the nonresidential real property lessor and the goals of the tenant of that property will diverge either before or immediately upon the tenant commencing a bankruptcy case. When a tenant of nonresidential real property commences a bankruptcy case, many of the general rules on contract law and other state law principles that would typically govern the relationship are substantially modified and/or trumped entirely by the Code. The amendments to the Code brought about by the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA) altered the landscape for commercial real estate lessors and tenants filing bankruptcy cases even more dramatically than what previously existed. Landlords and tenants of such real property leases (and their professionals) are still struggling with the most appropriate means to deal with these new changes when the tenant needs to avail itself of the bankruptcy process.
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