Chapter 11 Commercial Lease Issue
Posted: Wed Nov 09, 2011 2:01 pm
cannot force a lease reduction. Can only assume or reject see section 365. you can negotiate a reduction, but you cannot force one.
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To: cdcbaa@yahoogroups.com
Sent: Thursday, October 27, 2011 1:51 PM
Subject: [cdcbaa] Chapter 11 Commercial Lease Issue
PC is considering a chapter 11 for a bar/restaurant. Corporate debtor is past due on business premises rent, under a Lease he would like to keep but which is now above market. I do not believe there is any mechanism by which he can modify the Lease in a Chapter 11 to lower it to current market value.... any thoughts or other suggestions? Thank you.
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