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Chapter 11 Contract Terms Corporate Counsel

Holland & Knight LLP

A Tale of 2 Rulings: Serta, Mitel Cases Remind Why Contract Language Matters in Debt Documents

Holland & Knight LLP on

A three-judge panel of the U.S. Court of Appeals for the Fifth Circuit has unanimously held that the debt exchange undertaken by Serta Simmons Bedding did not qualify as an "open market purchase" under the terms of Serta's...more

Seyfarth Shaw LLP

Bankruptcy Court Denies Debtors’ Motion to Abate Rent Due To COVID-19 Government Shutdown Orders

Seyfarth Shaw LLP on

On December 14, 2020, Judge Marvin Isgur of the United States Bankruptcy Court for the Southern District of Texas, issued an important decision in the CEC Entertainment, Inc. (Chuck E. Cheese) bankruptcy case, Case No....more

Ballard Spahr LLP

Recent Bankruptcy Court Case the First to Provide Pandemic-Related Rent Relief to a Tenant Under a Force Majeure Clause

Ballard Spahr LLP on

The United States Bankruptcy Court for the Northern District of Illinois – Eastern Division recently held that a lease’s force majeure clause sustained a claim for rent abatement arising out of the COVID-19 pandemic. Both...more

Miller Canfield

Bankruptcy Court Says Force Majeure Clause Partially Excuses Rent Payment Due To COVID-19 Executive Order

Miller Canfield on

Restaurants, retail stores, and other businesses around the country have been uniquely hit by COVID-19 - and by the executive orders shuttering their in-person services that quickly followed in its wake. Recently, the United...more

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