Scott Fleischer, counsel, was interviewed by Karly Iacono, senior vice president of CBRE Investment Properties, for “Landlord Strategies for Retail Bankruptcies,” an episode of the CRE Fast Five: Secret Sauce podcast. Scott told Karly about Barclay Damon and his role at the firm. He and Karly discussed what landlords should do if they learn that one of their retail tenants is considering filing or has already filed for Chapter 11 bankruptcy. Scott noted that it’s a tenant-specific approach. However, if the tenant does file for bankruptcy, the best thing for the landlord to do is act (read: react) quickly.
Scott also provided insight on the following topics:
- How long the period is between when there is a filing and when the actual court date happens.
- Emergency action plans for if a tenant plans to file for Chapter 11 bankruptcy and whether they’re a useful tool.
- The differences between filing designations (Chapter 7 and Chapter 11) and how they may affect a landlord’s actions.
- Retailers’ options with their leases if they’re facing bankruptcy and what happens to retailers’ arrears under these different scenarios.
- What a landlord should do if their tenant starts becoming late on their rent.
- Who’s on the “bankruptcy watch list.”
- COVID-19-related changes to leases that have affected landlords’ rights, and things landlords should be paying special attention to in lease clauses in terms of potential future bankruptcy concerns.
- Common misconceptions about bankruptcy law.
Click here to watch the full episode.