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Simon Property and Gap Settle Lawsuit Over Lease Payments (1)

Dec. 28, 2020, 11:13 PM

Simon Property Group Inc. and Gap Inc. ended a lawsuit in which the mall owner had accused its largest tenant of taking advantage of the Covid-19 pandemic to avoid more than $107 million in lease payments.

Terms of a settlement weren’t disclosed in a court filing Monday in Delaware Chancery Court. Representatives of Simon Property and Gap didn’t immediately respond to requests for comment on the filing.

Gap sued Simon Property in July seeking rent relief after the pandemic had forced many retailers to close their stores. Simon Property countersued the following month claiming Gap refused to make lease payments ...

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