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September 30, 2015

Joel Bennett

East Bank Club
500 North Kingsbury
Chicago, IL 60654

Leases: Breaches, Taxes and Damages

Ostrow Reisin Berk & Abrams, Ltd. and The Patterson Law Firm invite you to attend a seminar on September 30, 2015 which will examine the legal and financial aspects of leases. The seminar will be held at the East Bank Club, 500 North Kingsbury, from 7:30 a.m. - 10:30 a.m. with breakfast included. Presentations will include:

  • Legal Aspects of Lease Provisions
  • Tax Traps of Commercial Leases
  • Lease Breaches and Defenses
  • Monetizing the Breaches or Defenses

There is no charge to attend this program. Seats are limited. Please register on or before September 28, 2015.   


7:30 - 8:00 a.m.                 Breakfast Buffet and Networking

8:00 - 8:15 a.m.                 Welcome & Introductions

8:15 - 9:15 a.m.                 Legal Aspects of Lease Provisions

Kristi Browne, Partner, The Patterson Law Firm, will discuss the transactional legal aspects of lease provisions and the impact of those provisions from both landlord and tenant perspectives, including:

  • CAM Charges
  • Litigation/arbitration
  • Default
  • Options
  • Insurance
  • Personal guarantees

8:45 - 9:15 a.m.                 Tax Aspects of Commercial Leases

Jeffrey Newman, Director of Tax and Head of the ORBA's Real Estate Group, will be talking about potential tax surprises inherent in leases including:

  • How your method of accounting impacts rental payments, advance payments, rent holidays and tenant inducements from both the landlord and tenant's perspectives
  • Differences in economics and depreciation depending on who pays for tenant improvements, and what happens to the improvements upon termination of the lease
  • A quick primer on the passive loss rules and their applicability to leasing transactions

9:15 - 9:45 a.m.                 Litigation of Lease Provisions

Thomas Patterson, Managing Partner, The Patterson Law Firm, will focus on the litigation aspect of lease provisions, including:

  • Self-help
  • Bankruptcy
  • Mitigation
  • Fraud
  • Oral agreements/companion and affiliate agreements
  • Options to buy
  • CAM charges and damages

9:45 - 10:15 a.m.               Leases: How to Measure and Mitigate Damages

David Rogers, Director of Business Valuations and Litigation Support Services at ORBA, will be discussing measuring damages, including:

  • Types of damages
  • Landlord remedies when a tenant defaults
  • Tenant remedies when a landlord defaults
  • Mitigation to overcome the damage

10:15 - 10:30 a.m.               Questions



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