00:04
well
00:04
that depends on how you define
00:06
successfully raised so it’s a little bit
00:08
early on in the process
00:10
right now to to know
00:13
whether and how courts are going to
00:16
treat this equitable affirmative defense
00:19
as there is a trickle-down effect
00:21
obviously
00:22
if everybody were allowed to excuse
00:24
their obligations to perform
00:26
on contracts that would necessarily
00:29
trickle down
00:30
and and could be kind of catastrophic
00:33
for the economy that being said one of
00:36
the cases that i just mentioned to you
00:38
which
00:38
which is the hits case which emanated
00:41
out of the northern
00:42
district of illinois bankruptcy court a
00:45
court
00:45
in a sense did apply
00:49
temporary commercial impracticability to
00:52
a tenant’s obligation to pay
00:54
rent and there are numerous cases
00:57
pending in the cook county circuit court
00:59
in the northern district of illinois and
01:01
again other jurisdictions
01:03
where this equitable affirmative defense
01:05
is being asserted
01:07
it’s important to note that as a result
01:09
of kovid
01:10
many courts are operating on extremely
01:13
deluded bandwidth
01:14
because courts are not operating as they
01:17
normally would
01:18
judges are not holding court necessarily
01:21
from the courthouse but they may be
01:23
holding court
01:25
on a zoom call from an office in their
01:27
own home and so
01:29
the system is really um overwhelmed and
01:32
kind of
01:33
has a multitude of cases backed up in
01:36
the queue
01:37
and so i suspect it’s going to take
01:39
several years for
01:40
courts to let this work its way through
01:43
the system