Many Colorado landlords have confronted the issues that arise when a commercial tenant files, or threatens to file, a bankruptcy case. It is important for landlords to know the effects of a tenant’s bankruptcy filing on each party’s rights and obligations under the lease. What follows is a summary of those effects, and a brief guide for landlords to use in navigating a commercial tenant’s bankruptcy case. In this issue, I will discuss some bankruptcy basics, the tenant’s deadline to “assume” or “reject” the lease, and the tenant’s obligation to pay rent during the bankruptcy case.
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