On behalf of Jenner & Block’s Real Estate Litigation and Counseling Group, we are pleased to present this newsletter, which is designed to inform lawyers and business leaders about key legal developments affecting REITs, developers, brokers, investors, contractors, tenants, and other real estate industry participants. In this edition, we cover the following topics:
- COVID-19 Lease Disputes: Courts refuse to exempt tenants from rent obligations based on common law and contractual defenses raised by tenants
- Landlords and Tenants: Third Circuit overturns dismissal of Landlord’s allegations of fraud by Tenant
- Purchasers and Sellers: Delaware Chancery permits purchaser of $5.8 billion hotel portfolio to back out of deal where hotel operations changed in light of pandemic
- Lenders and Borrowers: Illinois Appellate Court holds LLC responsible for $120 million guaranty of construction financing
We also provide a summary of the current commercial foreclosure and eviction moratoria.
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