WSJ
BY ELIOT BROWN
A legal fight in Michigan could have repercussions throughout the commercial real-estate sector, potentially giving many debtholders across the U.S. new grounds to recover money from landlords who lost their properties to foreclosure.
Typically, the personal wealth of commercial real-estate owners is shielded from debtholders when investments sour. Lenders have no additional recourse once borrowers surrender properties.