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Re: landlord bankrupt

Posted by Mark Smith on September 12, 1998 at 15:12:43:

In Reply to: landlord bankrupt posted by Marla on September 12, 1998 at 03:10:33:

Your commercial sublease is subject to the doctor's lease with the landlord. If his lease is terminated, then your sublease will be terminated. Have you, as subtenant, been served with eviction papers? There is an automatic stay of eviction proceedings in bankruptcy court. You would not have to leave until ordered to do so by landlord-tenant court. You do not have a right to make a deal with the landlord, but it wouldn't hurt to ask them if they want to let you stay. It depends on what they want to do with the doctor's space and how much the rent will be.
: I am presently subleasing an office in Manhattan. The office I sublease is from a doctor who rents a suite from management who preside in the building. On May 1, 1998, I signed a 6 month lease with a written statement that I could continue renting the space until 2002 at a fixed annual increase. In August, the doctor I was subleasing from told me he was declaring bankruptcy and that I would have to leave by mid-September. He got an eviction notice a few weeks ago. I would like to know if I have any rights to continue renting my office - directly from the building management and if so, how do I officially proceed. Also, if I don't have rights to stay, how soon do I need to leave? If you know of other websites or telephone numbers where I could get additional information, please let me know. Thank you, in advance, for your help. Marla Cohen

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