The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA) substantially revised 11 U.S.C. 365 to significantly limit a debtor's time to assume or reject nonresidential real estate leases. Prior to BAPCPA, upon establishing "cause" a debtor could (and routinely did) extend its time to assume or reject nonresidential real estate leases for extended periods, often through and including the date of confirmation of a reorganization plan.
Under the previous law, a debtor met its burden of cause so long as it (1) could show that it was current on its post-petition rent obligations and (2) provided adequate assurance of future performance.
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