Throwing Tenants Off Spanish Peaks 

Panelists:

Honorable Neil Bason, Bankruptcy Judge, C.D. Cal.

Ivan Gold, Esq., Allen Matkins Leck Gamble Mallory & Natsis LLP

Michael St. James, Esq., St. James Law, P.C. 

The Ninth Circuit’s 2017 Spanish Peaks decision concluded that a bankrupt landlord could sell its property free and clear of the rights of a tenant in possession.

• What can a tenant do to protect itself from eviction and loss of its leasehold?
• Is Chapter 11 a good strategy to shed legacy leases which impair the value of a shopping center?
• Can the tenant solve the problem by seeking “adequate protection?”