- 11 U.S.C.
In re FPSDA I LLC
Mar
22
2011
Ruling
Leases that were integrated into franchise agreements did not have to be assumed or rejected within requisite time frame.
Procedural posture
Debtor franchisees filed petitions under Chapter 11 of the Bankruptcy Code, and the court ordered joint administration of the debtors' bankruptcy estate. The debtors filed a motion for the entry of an order determining, inter alia, that certain nonresidential real property leases they entered did not have to be assumed or rejected pursuant to 11 U.S.C.S. § 365(d)(4). An LLC that sold the franchises opposed the motion.
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Court
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