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Showing 1 post in Rejection.

Court Interprets Section 502(b)(6)(A); Holds “15%” A Measure of the Remaining Lease Term and Not a Measure of the Remaining Rent Due Under the Lease

In re Filene’s Basement, LLC, et al., No. 11-13511 (KJC) (Bankr. D. Del. Apr. 16, 2015)

In this Opinion, Delaware Bankruptcy Court Judge Kevin Carey ruled on a question that has evenly divided courts nationwide and remained unanswered by the Third Circuit Court Appeals – namely, whether the “15 percent” referenced in section 502(b)(6)(A) of the Bankruptcy Code refers to the remaining term of a lease or the remaining rent due under a lease.  Read More ›