Commercial Leases and Bankruptcy

Many business owners begin their enterprise with a dream of providing goods and services to a market that has high demand. Unfortunately, not every business experiences success, and eventually business owners have to make tough decisions regarding the future of their companies. When businesses decide to declare bankruptcy, there are often many questions regarding the future of their commercial leases.

When owners lease commercial space, they often do so in the hopes that their business will thrive. If the business fails before the end of the lease terms, the owner may find him/herself in a difficult position. If you are a business owner considering commercial bankruptcy, contact the Boston bankruptcy lawyers of Joshua Spirn & Associates at 800-975-5346.

Commercial Leases

Commercial leases are often dealt with in the following ways during bankruptcy:

• The lease should be included in bankruptcy paperwork and the terms are usually considered
• The business owner may have to prove that he or she can fulfill the terms of the contract
• If the owner cannot fulfill the terms of the contract, the lease may be breached and the owner of the commercial space may pursue legal action to recover payments owed

Decisions regarding the status of the lease and the actions taken during bankruptcy are often determined by the court. It is important to consult an experienced legal professional if you have any questions or concerns regarding commercial space and bankruptcy.

Contact Us

If you are considering filing for commercial bankruptcy, contact the Boston commercial bankruptcy lawyers of Joshua Spirn & Associates at 800-975-5346 to discuss your options.