SDNY Chooses “Time Approach” to Calculating Lease Termination Damages Collectible Against a Bankrupt Estate
In In re Pearl Resources LLC, a Houston bankruptcy court rejected the Texas General Land Office’s attempt to partially terminate state oil and gas leases in Pecos County, despite finding the operator had breached offset well...more
To prevent landlords under long-term real property leases from reaping a windfall for future rent claims at the expense of other creditors, the Bankruptcy Code caps the amount of a landlord's claim against a debtor-tenant for...more
On December 29, 2016, the U.S. Court of Appeals for the Ninth Circuit (the “Court”) issued an opinion, holding that the statutory cap on a landlord’s damages claim in a bankruptcy case applies only to claims resulting...more