Wal-Mart Unit Settles Tenant's $18M Lease Breach Suit

Law360, New York (March 15, 2012, 6:28 PM EDT) -- A Maryland federal judge on Thursday dismissed a $18 million suit against a Wal-Mart Stores Inc. affiliate over a broken lease contract after the company reached a settlement with subtenant Regency Furniture Inc.

The dismissal came after almost 12 months of failed mediation talks, according to court documents. Regency, which had sub-subleased a Maryland property from Wal-Mart Real Estate Business Trust, accused the trust of failing to make several necessary repairs, and then breaking its own sublease with the owner behind Regency's back.

Terms of the...
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