Shuttered Sears store inside the White Marsh shopping mall in Baltimore, MD. August 29, 2021. Photo: Diego M. Radzinschi/ALMMall of America Dealt Another Blow in Quest to End $10-Per-Year Lease With Sears
The U.S. Court of Appeals for the Second Circuit said Bankruptcy Code Section 365(d)(4) doesn’t require the return of Sears’ lease, as various aspects of the deal indicated that Sears was acting as the owner of the property.
December 17, 2024 at 06:33 PM
3 minute read
The Mall of America hit another roadblock in its year-long efforts to end a $10-a-year, 100-year lease with Sears, unable to convince the Second Circuit that a bankruptcy law rejecting certain leases with bankrupt tenants applied to the case.
The U.S. Court of Appeals for the Second Circuit said 11 U.S.C. § 365(d)(4) doesn’t require the return of Sears’ three-story space to MOAC Mall Holdings LLC, as various aspects of the lease indicated that Sears was acting as the owner of the property.
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