Page 20 - NBIZ Magazine December 2020

parking lot and sends email blasts to and brick and mortar stores becom- creditors, debtors, a bankruptcy
customers with daily specials. Ten- ing less essential, retail debtors are trustee and landlords in numerous
ants can also offer virtual workshops demanding more concessions from matters in various cases. Brendetta is
instead of in-store demonstrations or weary landlords. also an adjunct professor at Thurgood
classes. Virtual classes offer a respite Landlords are now faced with a Marshall School of Law. Additionally,
for home-bound customers that can decision to either accept the debtor’s Brendetta is the current President for
include shorter free classes and longer assumption minus a cure of all past de- the Hon. Arthur L. Moller/David B.
paid classes. faults or lose a tenant with no guarantee Foltz, Jr. American Inn of Court. You
to relet the space in a reasonable time. can review Brendetta’s full bio on the
Without Creative Solutions, Tenants will Acceptance of the debtor’s demands firm’s website at hooverslovacek.com
be forced into Bankruptcy may be the lesser of two evils. However, and contact her via email at scott@
Lately, the surge of retail and if both landlords and tenants employ hooverslovacek.com.
tenant bankruptcies has escalated. In clever ideas and allow some concessions,
those bankruptcies, debtors have been they can both surmount the odds. N Endnotes
assuming a large number of leases on 1. Case No. 20-30805; In re Pier 1 Imports, Inc., et
their terms, without curing monetary Angeline Vachris Kell is an Attorney al, In United States Bankruptcy Court for the
defaults. This potentially endangers at HooverSlovacek LLP. She received Eastern District of Virginia, Richmond Division.
landlords and purchasers of these her J. D. from South Texas College [Doc. 493] (KRH)
leases. Occupancy requirements and of Law and a Bachelor of Arts 2. https://www.sacurrent.com/ArtSlut/
loan-to-value ratios could invoke tech- with a major in Spanish from the archives/2020/03/26/evo-entertainment-
nical defaults under a landlord’s note. University of Texas. Angeline is the launches-drive-in-theater-in-schertz-for-safe-
Monetary defaults are also a danger Past President of the Hon. Arthur L. entertainment-while-social-distancing; “Evo
due to the debtor’s financial inability Moller/David B. Foltz, Jr. American Entertainment Launches Drive-In Theater in
to cure all rental defaults. Naturally, a Inn of Court. You can view Angeline’s Schertz for Safe Entertainment While Social
landlord’s first inclination is to oppose full bio on the firm’s website at Distancing,” San Antonio Current, Katie Hennessey,
any lease concessions. If the location hooverslovacek.com and contact her March 26, 2020, (last viewed on 11-24-20)
has performed well historically, the via email at kell@hooverslovacek.com. 3. https://www.evodrivein.com/
lease is critical. Without the lease, 4. https://www.businessinsider.com/alamo-
the debtor’s reorganization plan will Brendetta Anthony Scott, an drafthouse-private-movie-theater-rental-
become ineffective. attorney and certified mediator pricing-2020-9, Isabella Jibilian, “A national
Before the pandemic, landlords with HooverSlovacek LLP, primarily movie-theater chain is rolling out a wild plan to
could negotiate with tenants, confident focuses her practice on business let you rent your own private cinema, starting at
that tenants would consistently pay bankruptcy and receiverships. She $300 plus the cost of tickets,” Business Insider,
timely rent in the future. However, has represented institutional September 25, 2020; (last viewed on 11-24-20)
with changes in consumer behavior lenders, secured creditors, unsecured https://www.amctheatres.com/rentals; https://
www.studiomoviegrill.com/story/private-events
5. https://abc13.com/houston-main-street-more-
space-ordinance-covid/8072435/ Miya Shay;
“Downtown bars and restaurants now allowed to
serve outdoors on Main Street,” Eyewitness News,
November 18, 2020, (last viewed on 11-24-20)
6. Id.
7. https://www.austintexas.gov/service/sidewalk-
cafes-and-street-patios
8. Id.
9. https://www.washingtonpost.com/
business/2020/08/26/simon-property-group-
malls/; Abha Bhattari, Mall Giant Snapping up
Bankrupt Retailers to outdo its Rivals; August 26,
2020, Washington Post (last viewed on 11-24-20)
with changes in consumer 10. Case No. 20-20182, In re J.C.Penney Company, Inc,
behavior and brick and et al; (Jointly Administered), In the United States
mortar stores becoming Bankruptcy Court for the Southern District of
less essential, retail Texas, Houston Division. (DRJ); https://www.yahoo.
debtors are demanding com/lifestyle/j-c-penney-gets-green-184753123.
more concessions from html; “J.C. Penney Gets the Green Light for Chapter
weary landlords. 11 Plan” Sindu Sundhar, November 24, 2020
(last viewed on 11-25-20)

20 NBIZ ■ December 2020