New York bankruptcy court breaks with precedent and endorses time approach for calculating lease termination damages over rent amount approach, resulting in smaller claims for landlords.
Time approach limits, and often...more
In an amicus brief, the International Swaps and Derivatives Association and the Securities Industry and Financial Markets Association argued that the amount of a dealer’s termination claim under the 1992 ISDA Master Agreement...more
11/29/2022
/ Amicus Briefs ,
Bankruptcy Code ,
Bankruptcy Court ,
Debtors ,
Insolvency ,
Interest Rates ,
Ipso Facto Clauses ,
ISDA ,
SIFMA ,
Swaps ,
Trade Associations
Asset purchasers that have actual or constructive knowledge of a competing interest yet fail to alert the bankruptcy court may be subjecting them to claims by competing interest holders in an otherwise free and clear sale....more
If you really want to be released from your lease obligations and those of your assignee, you need to get a landlord release at the time of assignment.
An assignor tenant’s lease obligations survive an otherwise permitted...more
1/27/2022
/ Bankruptcy Court ,
Chapter 11 ,
Commercial Bankruptcy ,
Commercial Leases ,
Coronavirus/COVID-19 ,
Landlords ,
Leases ,
Material Change Doctrine ,
Pre-Bankruptcy Claims ,
Proof of Claims ,
Releases
A recent Chuck E. Cheese decision rejects the debtor’s/tenant’s request to avoid paying rent based upon state law equity arguments.
CEC’s leases expressly do not permit rent relief even if force majeure is triggered....more
A recent Chuck E. Cheese decision denies the debtor’s/tenant’s request to defer paying rent after the 60-day “rent holiday.”
The Bankruptcy Court applied the “plain language” rule to hold that section 365(d)(3)’s rent...more