Tag Archives: lease

Lease Assumption (and Rejection): It Ain’t So Until the Court Says So

Posted on March 21, 2014 by BankruptcyRealEstateInsights

In re Upper Crust, LLC, 502 B.R. 1 (Bankr. D. Mass. 2013) – In a bankruptcy case that was converted from chapter 11 to chapter 7, a landlord sought immediate payment or administrative priority for postpetition rents and rejection damages.  The trustee objected … Continue reading →

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Bankruptcy Sales: Sometimes the Mortgagee Wins

Posted on March 4, 2014 by BankruptcyRealEstateInsights

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 Sale: A Potpourri of Issues

Posted on January 28, 2014 by BankruptcyRealEstateInsights

In re Scimeca Found., Inc., 497 B.R. 783 (Bankr. E.D. Pa. 2013) – A chapter 7 trustee sought court approval for a sale of the debtor’s property and resolution of related issues over the objections of the debtor.  In granting the … Continue reading →

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Lease Termination: Say It Like You Mean It (Or Else)

Posted on December 24, 2013 by BankruptcyRealEstateInsights

Franklin Advisors LLC v. Sherwood Mgmt. Corp. (In re Whyco Finishing Technology, LLC), 500 B.R. 517 (Bankr. E.D. Mich. 2013) – A landlord filed an amended proof of claim for ~$700,000 based on a chapter 11 debtor’s breach of a real estate … Continue reading →

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Leases: Is Rejection the Same as Termination and Who is the Tenant Anyway?

Posted on December 17, 2013 by BankruptcyRealEstateInsights

John Hilsman Inv., LLC v. Quality Properties, LLC, 500 B.R. 105 (N.D. Ala. 2013) – A Chapter 11 debtor sought to assume a lease that had been assigned to it.  The landlord contended that rejection of the lease in a prior … Continue reading →

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

Posted on October 25, 2013 by BankruptcyRealEstateInsights

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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