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New Cases For the Week of October 8, 2001 -
October 12, 2001
Brought to you by BKINFORMATION.COM
- The Source for Business Bankruptcy Information on the Internet
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October 11, 2001
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Case
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Court
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Holding
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In
re Montgomery Ward Holding Co.
(DBN Subscription Required) |
3rd Cir. |
Under
11 USC 365(d)(3), a debtor in possession is required to pay
all obligations coming due under a triple net lease after the
petition date. This includes the obligation to pay
annual taxes, even where the taxes were assessed against the
lessor prepetition. |
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October 10, 2001
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Case
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Court
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Holding
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Official
Unsecured Creditors Committee v. R.F. Lafferty & Co., Inc.
(DBN Subscription Required) |
3rd Cir. |
Although
the "deepening insolvency" theory is a cognizable
cause of action under Pennsylvania law, and a debtor's
creditors' committee has standing to pursue such a claim, the
committee, which is deemed to stand in the shoes of the debtor
as of the petition date, was in pari delicto with the
defendants, thereby precluding recovery. |
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