Jersey Boulevard Corp. v. Lerner Stores Corp.

In this case a landlord of one of a chain of stores, after an adjudication in bankruptcy has ended the lessee’s tenancy and left the landlord without any present, provable claim for the loss of future rents, seeks a remedy against a holding company, stockholder of the lessee corporation. It is complained that one single interest, incorporated as lessee, stockholder of the lessee, chief creditor of it, and purchaser of the assets in bankruptcy, has contrived to continue the stores with the original store assets, but with the obligation under the lease practically cast off, and that in this…