1. Coronavirus: Simon Property Group Sues Gap for Withholding Rent

    Coronavirus: Simon Property Group Sues Gap for Withholding Rent

    Indianapolis-based Simon Property Group sued The Gap Inc. and associated entities on Tuesday for breach of contract and willfully withholding rent during the coronavirus pandemic. In the filing, Simon said the Gap owes three months of rent and other lease charges amounting to $65.9 million. Simon also is seeking reimbursement for attorney fees and court costs...

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    1. The Gap entities are in default on each of the leases for failure to pay rent for April, May and June, 2020....
    2. The leases clearly, unambiguously and expressly provide, that in the event of force majeure, Gap is required to continue to pay minimum annual rent, percentage rent, additional rent and all other payments required by the terms of the Leases when the same are due.
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