Articles Detail

March 25, 2012

The Debtors filed a motion asking the Court to extend the initial period granted by the Bankruptcy Code to assume (keep) or reject (terminate) nonresidential real property leases. Section 365(d)(4)(B) of the Bankruptcy Code gives a debtors 120-days to assume or reject unexpired leases of nonresidential real property (the "Lease Rejection Period").  Absent the requested extension, the Debtors' Lease Rejection Period expires on March 28, 2012. The Debtors request that the court extend the Lease Rejection Period by ninety (90) days, from March 28, 2012 through and including June 26, 2012. This motion was granted.