Bankruptcy Code “[§]365(d)(4) does not apply to the [purported lease] because it is not a ‘true lease,’” held the Second Circuit in In re Sears Holdings Corporation, 2024 WL 5113165, *3 (2d Cir.
Lease Analysis Gives Win for Commercial Landlord In Bankruptcy Case
The Second Circuit ended a multi-year litigation by affirming a district court’s decision that a landlord’s appeal was “moot for lack of a remedy because, although [that] court [had properly] vacated the assignment and assumption of the lease …, the lease would not revert to [the landlord under Code] §365(d)(4), and that [the landlord] had no alternative remedy.”
By
Michael L. Cook
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