The Bankruptcy Abuse Prevention and Consumer Protection Act's Amendments to Bankruptcy Code Provisions Impacting Nonresidential Real Property Leases in Bankruptcy
by David Stratton
Pepper Hamilton LLP;
Wilmington, Del.
James Carignan
Pepper Hamilton LLP;
Wilmington, Del.
For many businesses that become debtors in bankruptcy, the debtor's interests in unexpired leases of nonresidential real property are often among the most valuable assets in the debtor's estate. The Bankruptcy Code gives a debtor-in-possession (or a trustee of a debtor's estate) certain latitude with respect to how these unexpired leases may be utilized in bankruptcy. Among other things, Bankruptcy Code §365 provides that, within certain constraints imposed by the Code, a debtor may assume a lease and keep performing under it, even if the debtor defaulted in its lease obligations pre-petition.
Read the full article. (Materials from 2007 Annual Spring Meeting)
Here's Dirt in Your Eye: Advanced Issues in Reorganization Cases Involving Homebuilders; Other Residential Projects; Developers and Contractors
by Laurel E. Davis
Fennemore Craig, Las Vegas
Economic growth for the first quarter of 2006 is slow. The economy grew only .6 percent, which is significantly lower than the previously predicted 1.3 percent and the weakest since 2002. Economists have given up on the idea that the national housing slump will be quick and painless, concluding the downturn will last at least through the end of 2007.
Read the full article. (Materials from 2007 Southwest Bankruptcy Conference)
2007 Winter Leadership Conference Agenda
The committee will meet jointly with the Young & New Members Committee to present The New American Skyline: Builder/Developer Workouts and Restructurings. Speakers will be Jeffrey Z. Hubbard, (Sheldon Good & Co.; New York), Leslie Ann Berkoff (Moritt Hock Hamroff & Horowitz LLP; Garden City, N.Y.), Joseph H. Smolinsky (Chadbourne & Parke LLP; New York) and Heidi Jan Sorvino (Katten Muchin Rosenman LLP; New York).