Some courts have determined that, in enacting the surrender provision, Congress intended for property to revert immediately to the lessor upon rejection by the bankrupt sublessor, even in a subletting situation.
46) By giving the bankrupt sublessor the ability to terminate a lease under the surrender provision, these courts have interpreted the statute in a manner that directly contradicts congressional policy.
The financial health of the sublessor will, in large part, dictate how the landlord views a sublease.
Consent-to-sublease documents, signed by the landlord, the sublessor and sublessee, usually span a few pages.
Since even below-market rents are better than none,
sublessors are offering a treasure trove of incentives, deeply discounted lease rates, free rent, generous tenant improvement allowances and, in some cases, even office and/or telecommunications equipment.
Sublease space undermines reliable estimates in these areas because most
sublessors are intent on reducing the carrying cost of their space.
140] Under equity, anti-vice reformers could make the "partnership" behind the brothel--the landlords, management companies,
sublessors, and furniture owners--more responsible for the persistent illicit use of their property than the madams who merely managed the houses.
197(f) (6),
sublessors and sublessees are treated the same as lessors and lessees, respectively.
Longhi still held the 30-year lease on the building and had, since the failure of his Makawao outlet a decade earlier, watched the successive collapses of
sublessors Piero's, The Tillerman, and now Partners.
Stolle's new storefront is a corner division of Tio Pio, the
sublessors on the space, who were represented by Winick Realty Group's Jordan Kaplan and Zach Diamond.
As
sublessors, they have no control over any sprinkler system and neither any access to the maintenance records, nor the ability to demand such.
