COVID-19 and the closure of corporate and main street businesses (either permanently or for the foreseeable future) triggers the necessity to have these businesses reaffirm their obligations in consideration of lender’s or lessor’s agreement to temporarily forebear “stay” from initiating or continuing Court actions. Forbearance agreements in other weakened economic times affecting main street have been helpful opportunities to shore-up the terms and provisions of the underlying lease agreements while at the same time preserving the obligations of the borrower or lessee. Contact Anthony Lamm whose experience in severe downtimes during the past 30 years helped maintain many accounts from requiring complete capital reserves. 267-217-1400 or Anthonylamm@lammlawpc.com
