Articles Published by Michael St. James > Landlord Issues

What’s a Landlord to Do? Choosing Between Security Deposits and Letters of Credit Based on
Tenant Insolvency Concerns  is a practical discussion of the criteria for choosing between
a cash security deposit and a letter of credit.

In Oldden, Letters of Credit and Section 502(b)(6), St. James asserts that letters of credit
should not be applied to reduce the “Landlord’s Cap.” He argued that position on behalf of the
landlord in In re AB Liquidating Corp., but the Ninth Circuit rejected that analysis. In Are
Letters of Credit Covered by the Landlord’s Cap?, St. James canvasses the current state of
the law on the subject across the country.