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Old 09-25-2002, 01:22 PM
creditcrunched
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Business lease - BK impact

What is the name of your state? NY

I have just moved my business to much less expensive space and signed a new lease w/ personal guarantee. There's a clause in the lease that says I would be in default if I have a BK filing. How can I deal with this. I have to do a personal C7 in a few months.
Any opinions?
Thanks
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Old 09-28-2002, 07:26 AM
dorenephilpot
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Probably what they mean by that, if you read it carefully, is that if you are behind and file a bk petition in the hopes of getting out of back rent that you will be in breach of the contract.

So, if you stay current with your lease payments, that shouldn't be a problem.

Hope this information is helpful.
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