In Patricia Wright, et al. v. Owens Corning, Case No. 11-2026 (3d Cir. May 18, 2012), the Third Circuit Court of Appeals undertook the challenge of administering unknown future claims in bankruptcy. Future claims are generally known as claims that only become apparent until after a chapter 11 plan is confirmed and the debtor is discharged […]
Read MoreIn re DLH Master Land Holding, L.L.C., Case No. 11-10781 (5th Cir. March 13, 2012) In In re DLH Master Land Holding, L.L.C., Case No. 10-30561-hdh, the Fifth Circuit Court of Appeals recently rendered an opinion affirming the lower courts’ ruling that Bank of America did not show “excusable neglect” warranting the allowance of its […]
Read MorePursuant to section 365 of the Bankruptcy Code, a commercial lease tenant is entitled to reject a lease of non-residential real property. The landlord’s resulting claim for the termination of the lease is capped by section 502(b)(6) of the Code up to the rent reserved by the lease for: the greater of 1 year; or 15%, […]
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