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The Delaware Bankruptcy Insider is a premier blog designed to bring its readers a comprehensive analysis of the latest Delaware corporate bankruptcy news and rulings. Brought to you by Ashby & Geddes, P.A.
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Judges and Courts
- Delaware Court of Chancery
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Recent Posts
- Getting Noticed in the Digital Age: Delaware Bankruptcy Court Finds Email Notice Satisfies Due Process but Not Rule 2002
- Third Circuit Reversal Paves the Way For NextEra to Potentially Recover Administrative Expenses Incurred in Connection With Failed Merger
- Delaware District Court Disagrees with Bankruptcy Court’s Ruling and Holds That Committee’s Challenge Rights Survived Entry of the Sale Order and Consummation of Sale
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For more information
On a Mission: Supreme Court Clarifies Effect of Rejection of Executory Contract
Mission Prod. Hldgs., Inc. v. Tempnology, LLC, No. 17-1657 (2019).
In Mission Prod. Hldgs., Inc. v. Tempnology, LLC, the United States Supreme Court resolved a long-standing Circuit Court split in holding that a debtor’s rejection of an executory contract does not eliminate a contract counterparty’s right to use certain debtor trademarks provided thereunder. Rather, according to the Court, following the debtor’s rejection of such contract, the counterparty retains the rights it received pursuant to the terms of the underlying agreement and applicable nonbankruptcy law.
Generally, Mission Product Holdings, Inc. (“Mission”) entered into a contract with Tempnology,… Read More
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. Section 506(b)(6), which places a statutory cap on a landlord’s claim resulting from the termination of a debtor’s lease of real property, provides in relevant part… Read More