Tag Archives: executory contracts

Sale Contract for Mineral Interests: Speak Early and Often, Or Forever Hold Your Peace

Davis v. Dunmore Properties, Inc. (In re Davis), 503 B.R. 609 (Bankr. M.D. Pa. 2013) – After confirmation of their chapter 13 plan, two chapter 13 debtors filed motions for summary judgment seeking to reject a contract for sale of their mineral rights … Continue reading

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Bankruptcy Sales: Sometimes the Mortgagee Wins

In re CPJFK, LLC, 496 B.R. 290 (Bankr. E.D.N.Y. 2011) – A chapter 11 trustee sought court approval of a Section 363 sale of the debtor’s hotel to its secured creditor for a credit bid of ~$13.8 million.  The debtor raised … Continue reading

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Bankruptcy Sales: Acquiring Related Contracts (Whether the Debtor Cooperates or Not)

Popgrip, LLC v. Brown’s Chicken & Pasta, Inc. (In re Brown’s Chicken & Pasta, Inc.), 503 B.R. 86 (Bankr. N.D. Ill. 2013) – A debtor who was a restaurant franchisor sold substantially all of its assets in a bankruptcy auction.  The … Continue reading

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Letter of Credit: Not A Financial Accommodation, Executory Contract Or Even A Contract?

Rafool v. Evans, 497 B.R. 312 (C.D. Ill. 2013) – A chapter 7 trustee brought a legal malpractice case against a debtor’s prepetition attorneys for failing to advise the debtor to draw on letters of credit prior to filing bankruptcy.  The case turned … Continue reading

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Leases: The Debtor Tenant’s Right To “Assume” and To “Assign” Does Not Mean To “Assume and Assign”

In re Eastman Kodak Co., 495 B.R. 618 (Bankr. S.D.N.Y. 2013) – The debtor assumed a ground lease prior to the deadline for assumption or rejection of non-residential real property leases.  It later sought to assign the lease in connection with … Continue reading

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Environmental Claims: The Best Laid Schemes of Mice and Men …

Route 21 Associates of Belleville, Inc. v. MHC, Inc., 46 B.R. 75 (S.D.N.Y. 2012 – A company (Route 21) bought property from the debtor (MHC) in the mid-1980s that turned out to be contaminated.  After the debtor filed bankruptcy in 2009, … Continue reading

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