Negotiates Termination of Lease and Personal Guarantee During Pandemic
Our client, a commercial tenant, was forced to shut down his business and cease operations during the Coronavirus pandemic. His lease obligations, however, continued to accrue and they were secured by a personal guarantee. The client was concerned that without any income from his business or ability to reopen, he would become personally liable for a massive debt. Through negotiations with the landlord during the pandemic, Tannenbaum Helpern was able to negotiate a settlement terminating the lease and personal guarantee.