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At the end of 2020, Congress enacted the Consolidated Appropriations Act, 2021, partially in response to the COVID-19 pandemic and resulting economic crisis. While funding the federal government and preventing a government shutdown, the CAA also included several amendments to the bankruptcy code providing much-needed rent relief for commercial tenants.
The bankruptcy code generally requires a debtor in bankruptcy to timely pay its rental obligations during the bankruptcy case. Prior to enactment of the CAA, commercial tenants and debtors in bankruptcy tried with varying degrees of success to secure rent abatement during their bankruptcy cases. Providing a new degree of certainty, Congress has provided debtors in bankruptcy specific forms of temporary relief.