Share on LinkedInShare on LinkedIn

ARTICLE · 03 JUNE 2020

Tenant Insolvency Issues For Commercial Landlords In Alberta

The coronavirus pandemic is having a devastating impact on the global economy and has caused economic activity to grind to a halt.

CanadaReal Estate and Construction

The coronavirus pandemic is having a devastating impact on the global economy and has caused economic activity to grind to a halt. The ongoing global crisis will unfortunately push many businesses into bankruptcy. There are significant implications for commercial landlords and tenants from the resulting financial crisis.

When tenant insolvencies arise, commercial landlords are often faced with precarious situations. If a bankruptcy order is granted by the court, this order will stay all proceedings and actions against the tenant. This precludes the landlord from exercising its rights of distress and terminating the commercial lease. The following paragraphs will assess a commercial landlord's remaining rights and remedies and will provide our recommendations for commercial landlords.

We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.

About Norton Rose Fulbright Canada LLP

Norton Rose Fulbright is a global law firm. We provide the world's preeminent corporations and financial institutions with a full business law service. We have 3800 lawyers and other legal staff based in more than 50 cities across Europe, the United States, Canada, Latin America, Asia, Australia, Africa, the Middle East and Central Asia.

Recognized for our industry focus, we are strong across all the key industry sectors: financial institutions; energy; infrastructure, mining and commodities; transport; technology and innovation; and life sciences and healthcare.

Wherever we are, we operate in accordance with our global business principles of quality, unity and integrity. We aim to provide the highest possible standard of legal service in each of our offices and to maintain that level of quality at every point of contact.

For more information about Norton Rose Fulbright, see nortonrosefulbright.com/legal-notices.

Law around the world
nortonrosefulbright.com

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

See more popular content from