- 11 U.S.C.
In re Connectix Corp.
May
10
2007
Ruling
Landlord's capped claim for unpaid commercial rent allowed but less draws on letter of credit.
Procedural posture
Creditor, the former commercial landlord of the debtor, filed a claim in the amount of $2,335,283.99 based on the debtor's future lease obligations. The chapter 7 trustee, the debtor, and its major shareholders, objected to the amount of claim, and asserted that, under the correct application of 11 U.S.C. § 502(b)(6), the landlord's recovery from the bankruptcy estate to $446,246.99.
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Court
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