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Showing 1 post in Nonresidential Real Property Leases.

State Law Enforceability of Post-Confirmation Settlement Agreement Not Dispositive; Bankruptcy Court Considers Bankruptcy Rule 9019 Standard

In re Filene’s Basement, LLC, No. 11-13511 (KJC), 2014 WL 1713416 (Bankr. D. Del. Apr. 29, 2014)

On April 29, 2014, the Honorable Kevin J. Carey issued another Memorandum in connection with the on-going disputes in the bankruptcy proceedings of reorganized Filene’s Basement, LLC and its affiliated reorganized debtors regarding a lease of non-residential real property located in Secaucus, New Jersey. Unlike Judge Carey’s prior decisions that determined a claim to percentage rent under the lease (an analysis of which may be found here), the issues presented to His Honor in this most recent dispute included the question of whether a settlement agreement presented by the reorganized debtors for court approval under Bankruptcy Rule 9019 but later withdrawn in the face of a higher and better offer could be enforced by the jilted counterparty. Read More ›