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Chicago Bankruptcy Court holds rent may be reduced during Chapter 11 proceedings due to COVID-19 shutdown orders

Lauren Newman June 26, 2020
Illustration of four hands pulling at a dollar

A Chicago bankruptcy court recently ruled in In re Hitz Restaurant Group that a debtor’s obligation to pay rent during its bankruptcy case may be temporarily reduced because of a force majeure clause in the lease and the governor’s COVID-19 stay-at-home order. READ MORE

In Gouletas, bankruptcy court rules statutes of limitations have limitations

Francis X. Buckley, Jr. February 8, 2019
Parking meter with expired time

In a recent Chicago bankruptcy case, the judge ruled that obligations are not extinguished by statutes of limitation and, even after the expiration of the limitation period, a creditor retains its rights in collateral so long as the underlying debt is enforceable. READ MORE