Section 365(d)(3) requires chapter 11 debtors to timely perform all obligations “arising from and after the order for relief under any unexpired lease of nonresidential real property, until such lease is assumed or rejected.” Section 365(d)(3) specifically provides that such sums are due “notwithstanding §503(b)(1).” Thus, obligations
Committees
Two recent Delaware cases illustrate how courts continue to scrutinize so-called “breakup fees” payable to “stalking horse” bidders in bankruptcy sales.
The meeting was called to order at 8:30 a.m. and Business Reorganization Committee Co-chair Robert Keach advised the attendees that the educational program was a joint presentation by the Business Reorganization Committee and the Investment Banking Committee.
A series of recent decisions brings clarity to issues involving retention of chapter 11 professionals. Chapter 11 counsel, financial advisors, investment bankers and accountants, as well as other professionals, should take note of a trio of recent decisions.
The influential Third Circuit Court of Appeals in Solow v. PPI Enterprises (U.S.) Inc., et al. (In re PPI Enterprises (U.S.) Inc., Docket No.
In a recent decision, the U.S.
In a recent decision, the U.S.
An admitted campaign by the Office of the United States Trustee to bar indemnity and exculpation provisions in retention agreements for financial advisors hired by trustees, debtors and committees is yielding some results in recent reported decisions.
Section 1146(c) of the Code provides that delivery of an instrument of transfer (such as a bill of sale or deed) “under a plan confirmed under §1129 of this title, may not be taxed under any law imposing a stamp tax or similar tax.” In some jurisdictions, courts includ