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Showing posts in Reconsideration

UPDATE – Bankruptcy Court Continues To Urge Nortel Parties To Come To An Agreement

In re Nortel Networks, Inc., Case No. 09-10138 (KG) (Bankr. D. Del. July 6, 2015)

The Delaware Bankruptcy Court heard day-long argument on eight issues raised in motions for reconsideration of the Court’s recent Allocation Opinion—previously discussed here—and issued a Memorandum Order denying reargument on two issues, granting minor clarifications to the Allocation Opinion on four issues, and denying reargument as premature on two issues.  While the Memorandum Order is not all that legally significant, Judge Gross again urges the parties “to discuss how to refine the issues the Movants have raised.  Failing those discussions, the Court… Read More

More Opinions Addressing Pro Se Claimants in New Century TRS Holdings, Inc

Konar v. New Century TRS Holdings, Inc (In re New Century TRS Holdings, Inc), Adv. No. 12-50187 (KJC), 2014 WL 2198247 (Bankr. D. Del. May 23, 2014); In re New Century TRS Holdings, Inc, No. 07-10416, 2014 WL 2511339 (Bankr. D. Del. May 30, 2014) (“Cromwell”); In re New Century TRS Holdings, Inc, No. 07-10416, 2014 WL 2446823 (Bankr. D. Del. May 30, 2014) (“Russell”)

In In re New Century TRS Holdings, Inc, the Honorable Kevin J. Carey has spent significant time adjudicating pro se claimants’ late-filed proofs of claims that assert various alleged injuries relating to their respective mortgages.  In fact, in… Read More

Motion for Reconsideration Denied: Bankruptcy Court Correctly Interpreted Lease

In re Filene’s Basement, et al., No. 11-13511 (KJC) (Bankr. D. Del. Jan. 15, 2014)

In a previous Memorandum issued on February 19, 2013, the Honorable Kevin J. Carey found that, inter alia, an amendment to a credit agreement providing for a $10 million working capital loan secured by a leasehold mortgage constituted a “permanent mortgage” under the terms of the lease.  This ruling, contingent on the Court construing the undefined lease term “permanent mortgage,” triggered significant percentage rent under the lease from the debtor, Syms Corp. (“Syms”), to the landlord.  Syms moved for reconsideration of such decision… Read More