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Bill97th CongressFiled Mar 29, 1982Finance and Financial Sector
S. 2297

Shopping Center Protections Improvements Act of 1982

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Under committee review

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What it doesSummary passed senate amended (Oct 1, 1982)

(Measure passed Senate, amended)

Shopping Center Protections Improvements Act of 1982 - Amends the Bankruptcy Code to require a trustee in bankruptcy to perform all of the obligations of a tenant arising from an order for bankruptcy relief under an unexpired shopping center lease (including payment of the rent and other charges specified in the lease) until such lease is assumed or rejected. Permits the court to extend the time for performance of any obligation of rent or other charges due upon an unexpired lease. Declares that acceptance of such performance shall not constitute a waiver or relinquishment of the lessor's rights under the lease or under this Act.

Imposes a 60 day limit (with additional time, if the court so orders) on a trustee's acceptance or rejection of an unexpired lease in all bankruptcy cases, after which time the lease will be deemed rejected.

Requires the trustee to assure that an assignee of such a lease has a financial standing similar to the original tenant's at the time of execution of the lease.

Revises the condition that assignment or assumption of the lease not cause a substantial disruption of any tenant mix in the center by deleting the qualifier "substantial".

Permits the lessor, if an unexpired lease is assigned pursuant to this Act, to require a deposit or other security for the performance of the obligations under the lease.

Declares that the property of the estate does not include any property subject to a lease which has expired by virtue of its own terms without regard to the bankruptcy proceedings.

What just happenedOct 26, 1982

Referred to Subcommittee on Monopolies and Commercial Law.

Who’s behind it

Sen. Hatch, Orrin G. [R-UT](R-UT)Sponsor
6 cosponsors1 D5 R
Read on Congress.gov
6cosponsors2committees14actions1amendments1related bills4subjects
  1. Oct 26, 1982CommitteeH11000

    Referred to Subcommittee on Monopolies and Commercial Law.

    Administrative State, Regulatory Reform, and Antitrust Subcommittee
  2. Oct 1, 1982IntroReferralH11100

    Referred to House Committee on The Judiciary.

    Judiciary Committee
  3. Oct 1, 1982Floor

    Passed Senate with amendments by Voice Vote.

  4. Oct 1, 1982Floor17000

    Passed/agreed to in Senate: Passed Senate with amendments by Voice Vote.

  5. Oct 1, 1982Floor

    Considered by Senate.

  6. Aug 17, 1982Calendars

    Placed on Senate Legislative Calendar under Regular Orders. Calendar No. 764.

  7. Aug 17, 1982Committee

    Committee on Judiciary. Reported to Senate by Senator Thurmond with an amendment in the nature of a substitute. With written report No. 97-527.

    Judiciary Committee
  8. Aug 17, 1982Committee14000

    Committee on Judiciary. Reported to Senate by Senator Thurmond with an amendment in the nature of a substitute. With written report No. 97-527.

    Judiciary Committee
  9. Aug 4, 1982Committee

    Committee on Judiciary. Ordered to be reported with an amendment in the nature of a substitute favorably.

    Judiciary Committee
  10. May 21, 1982Committee

    Subcommittee on Courts. Approved for full committee consideration with an amendment in the nature of a substitute favorably.

    Human Rights and the Law Subcommittee
  11. May 3, 1982Committee

    Subcommittee on Courts. Hearings held.

    Human Rights and the Law Subcommittee
  12. Apr 1, 1982Committee

    Referred to Subcommittee on Courts.

    Human Rights and the Law Subcommittee
  13. Mar 29, 1982IntroReferral

    Read twice and referred to the Committee on Judiciary.

    Judiciary Committee
  14. Mar 29, 1982IntroReferral10000

    Introduced in Senate

Passed Senate amendedOct 1, 198235
(Measure passed Senate, amended)

Shopping Center Protections Improvements Act of 1982 - Amends the Bankruptcy Code to require a trustee in bankruptcy to perform all of the obligations of a tenant arising from an order for bankruptcy relief under an unexpired shopping center lease (including payment of the rent and other charges specified in the lease) until such lease is assumed or rejected. Permits the court to extend the time for performance of any obligation of rent or other charges due upon an unexpired lease. Declares that acceptance of such performance shall not constitute a waiver or relinquishment of the lessor's rights under the lease or under this Act.

Imposes a 60 day limit (with additional time, if the court so orders) on a trustee's acceptance or rejection of an unexpired lease in all bankruptcy cases, after which time the lease will be deemed rejected.

Requires the trustee to assure that an assignee of such a lease has a financial standing similar to the original tenant's at the time of execution of the lease.

Revises the condition that assignment or assumption of the lease not cause a substantial disruption of any tenant mix in the center by deleting the qualifier "substantial".

Permits the lessor, if an unexpired lease is assigned pursuant to this Act, to require a deposit or other security for the performance of the obligations under the lease.

Declares that the property of the estate does not include any property subject to a lease which has expired by virtue of its own terms without regard to the bankruptcy proceedings.

Reported to Senate with amendment(s)Aug 17, 198201
(Reported to Senate from the Committee on the Judiciary with amendment, S. Rept. 97-527)

Shopping Center Protections Improvements Act of 1982 - Amends the Bankruptcy Code to require a trustee in bankruptcy to perform all of the obligations of a tenant arising from an order for bankruptcy relief under an unexpired shopping center lease (including payment of the rent and other charges specified in the lease) until such lease is assumed or rejected. Permits the court to extend the time for performance of any obligation of rent or other charges due upon an unexpired lease. Declares that acceptance of such performance shall not constitute a waiver or relinquishment of the lessor's rights under the lease or under this Act.

Imposes a 60 day limit (with additional time, if the court so orders) on a trustee's acceptance or rejection of an unexpired lease in all bankruptcy cases, after which time the lease will be deemed rejected.

Requires the trustee to assure that an assignee of such a lease has a financial standing similar to the original tenant's at the time of execution of the lease.

Revises the condition that assignment or assumption of the lease not cause a substantial disruption of any tenant mix in the center by deleting the qualifier "substantial".

Permits the lessor, if an unexpired lease is assigned pursuant to this Act, to require a deposit or other security for the performance of the obligations under the lease.

Declares that the property of the estate does not include any property subject to a lease which has expired by virtue of its own terms without regard to the bankruptcy proceedings.

Introduced in SenateMar 29, 198200

Shopping Center Protections Improvements Act of 1982 - Amends the Bankruptcy Code to require a trustee in bankruptcy to perform all of the obligations of a tenant arising from an order for bankruptcy relief under an unexpired shopping center lease (including payment of the rent and other charges specified in the lease) until such lease is assumed or rejected.

Imposes a 60 day limit (with additional time, if the court so orders) on a trustee's acceptance or rejection of an unexpired lease in all bankruptcy cases after which time the lease will be deemed rejected. Requires the trustee, if the premises are not vacated within 30 days after a court order to do so, to perform all of the obligations under such lease currently.

Declares that the acceptance of such performance shall not constitute a waiver or relinquishment of the lessor's rights under the lease or the Bankruptcy Code.

Requires the trustee to assure that an assignee of such a lease has a financial standing similar to the original tenant's at the time of execution of the lease.

Revises the condition that assignment or assumption of the lease not cause a substantial disruption of any tenant mix in the center by deleting the qualifier "substantial".

Permits the lessor, if an unexpired lease is assigned pursuant to this Act, to require a deposit or other security for the performance of the obligations under the lease.

Eliminates the automatic stay of any proceeding to obtain possession of property subject to a lease which has expired by virtue of its own terms without regard to the bankruptcy proceedings.