Summary Judgement by Greedy Commercial Landlord

[dudeman84]

New York.

I pulled out of a lease in NY and the landlord granted me a surrender agreement. I was able to make a couple of payments and then my business tanked leaving me with the landlord filing suit.

Landlord filed suit claiming damages even though he re-let the location. Landlord wants the difference between what he leased the space for and what I was paying.

I secured an attorney but the fees to continue this fight are not worth it. Landlord will not accept a settlement as it won't cover legal fees.

Since I signed a Personal Guarantee on this lease, what could he go after even though I have nothing for him to go after as there are other banks in line way ahead of this landlord.

The landlord must think I have deep pockets but I don't and I will not throw good money after bad in this case because the attorney I hired was unsuccessful in getting any pre-court result.

I am not worried about the business part as I may decide to liquidate it to escape and I will be left with PG's on about 5 agreements that could be negotiated.

So, do I go in front of the judge in NY and claim and/or verify I don't have the assets to pay anything off. Show them my other notes which are ahead of them?

Without having to declare Chapter 13 for myself, how can I get this landlord to stop wasting his time and money and go away. I have more settlements to make over time.

One other thing. I spent six months attempting to rent the space with a high end real estate agent and Landlord turned down prospects as they didn't fit what they wanted. Prior to leasing to new tenant, they delayed accepting a new lease because they wanted to make sure the lessee was the right fit.

I hardly even took up any space I rented due to bad guidance by a manufacturer that thought that I had deep pockets to handle a large space.

I learned my lesson but I need to protect my family right now.

Advice welcome.What is the name of your state (only U.S. law)?

 

[justalayman]

So, do I go in front of the judge in NY and claim and/or verify I don't have the assets to pay anything off

.that isn't why you will be in court. He won't care. The LL is seeking a judgment for what you owe and that is that.

Show them my other notes which are ahead of them?

and whom arranged the order?


bottom line; the LL is apparently going to sue you. He will most likely win. He will get a judgement against you. He can then take any legal means available to collect the money as long as the judgment is valid which I believe is 10 years.

 

[dudeman84]

Landlord Issue

if the landlord is being overly aggressive and also prevented my company from sublet or from having someone take the lease as well as accounting for the wrong amount of money on this summary judgement, what do I do to correct it.

If I were to declare bankruptcy both business and personal, would the judgement go away? I believe it would plus all the other things pending against the business as a result of this lousy economy.

the other option is to put the debt into a debt management company and see if they would take a payment plan?

 

[You Are Guilty]

if the landlord is being overly aggressive and also prevented my company from sublet or from having someone take the lease as well as accounting for the wrong amount of money on this summary judgement, what do I do to correct it.

Now? Nothing. If you had done it when you surrendered the premises, it MIGHT have made a difference. But commercial properties are not subject to the same protections as residential properties, so unless your lease specifically addressed the issue, there is nothing you could have done.

If I were to declare bankruptcy both business and personal, would the judgement go away? I believe it would plus all the other things pending against the business as a result of this lousy economy.

Maybe? Depends on the type of filing.

the other option is to put the debt into a debt management company and see if they would take a payment plan?

I wouldn't waste my time paying some company to pay my debts for me. The vast majority are a rip off.

 

[Zigner]

Title of this thread: Summary Judgement by Greedy Commercial Landlord

I'm sorry...I've looked and looked through your post and I still can't see anything to indicate that you are dealing with a greedy landlord...

Expecting someone to honor their agreements isn't being "greedy".

New York.

I pulled out of a lease in NY and the landlord granted me a surrender agreement. I was able to make a couple of payments and then my business tanked leaving me with the landlord filing suit.

Landlord filed suit claiming damages even though he re-let the location. Landlord wants the difference between what he leased the space for and what I was paying.

I secured an attorney but the fees to continue this fight are not worth it. Landlord will not accept a settlement as it won't cover legal fees.

Since I signed a Personal Guarantee on this lease, what could he go after even though I have nothing for him to go after as there are other banks in line way ahead of this landlord.

The landlord must think I have deep pockets but I don't and I will not throw good money after bad in this case because the attorney I hired was unsuccessful in getting any pre-court result.

I am not worried about the business part as I may decide to liquidate it to escape and I will be left with PG's on about 5 agreements that could be negotiated.

So, do I go in front of the judge in NY and claim and/or verify I don't have the assets to pay anything off. Show them my other notes which are ahead of them?

Without having to declare Chapter 13 for myself, how can I get this landlord to stop wasting his time and money and go away. I have more settlements to make over time.

One other thing. I spent six months attempting to rent the space with a high end real estate agent and Landlord turned down prospects as they didn't fit what they wanted. Prior to leasing to new tenant, they delayed accepting a new lease because they wanted to make sure the lessee was the right fit.

I hardly even took up any space I rented due to bad guidance by a manufacturer that thought that I had deep pockets to handle a large space.

I learned my lesson but I need to protect my family right now.

Advice welcome.What is the name of your state (only U.S. law)?

 

[Andy0192]

if the landlord is being overly aggressive and also prevented my company from sublet or from having someone take the lease as well as accounting for the wrong amount of money on this summary judgement, what do I do to correct it.

It's hard to comment on a commercial lease agreement that you signed & personally guaranteed, but none of us have seen.

If I were to declare bankruptcy both business and personal, would the judgement go away?

Bankruptcy isn't a convenient way to shield yourself from claims while protecting assets.