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The First of its Kind, Court Rules That Commercial Tenant is Entitled to Reduction in Rent Due to COVID-19 – June 19, 2020

by Arash Beral, Jeffrey S. Goodfried and Jeffrey M. Jensen In what appears to be the first notable decision in the country tackling COVID-19 related implications vis-à-vis commercial contracts, the Bankruptcy Court for the Northern District of Illinois issued an order recently requiring a tenant (a restaurant) to pay only 25% of rent due during…