Richmond, TX asked in Bankruptcy for Texas

Q: Chapter 11 bankruptcy for my commercial lease is it mean landlord can’t ask for remaining lease contract?

I have a 7 years lease with landlord and i started my business but I don’t have the money to complete. The landlord currently gave me 6 months of build out rent free. But now 6 months but I’m money. And I want to get out of lease, they say I have to make payment of remaining 7 years rent which is 400k. I’m thinking of file gbankruptcyu under chapter 11. Is that mean the landlord can not ask me for 7years lease and i only pay for the 6 months rent under chapter 11 correct?

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1 Lawyer Answer
David Luther Woodward
David Luther Woodward
  • Bankruptcy Lawyer
  • Pensacola, FL
  • Licensed in Texas

A: Your lease may be avoidable in a bankruptcy proceeding, but I would consult a business bankruptcy specialist to see what all the options are

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