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Full-Text Articles in Law
Rejection Versus Termination: A Sublessee's Rights In A Lease Rejected In A Bankruptcy Proceeding Under 11 U.S.C. § 365(D)(4), Vivek Sankaran
Rejection Versus Termination: A Sublessee's Rights In A Lease Rejected In A Bankruptcy Proceeding Under 11 U.S.C. § 365(D)(4), Vivek Sankaran
Michigan Law Review
When a party files for bankruptcy under chapter 11 of the United States Code, the court typically appoints a trustee to handle all of the party's financial obligations. The trustee's responsibilities include investigating the financial condition of the debtor, the operation of the business, the desirability of continuing the business, and any other matter relevant to the disposition of the bankrupt estate. If a bankrupt party holds a commercial lease, the trustee possesses two options for dealing with the lease. One option is to reject the lease, which ends the bankrupt party's obligation to adhere to the provisions of the …
Railroads - Reorganization - Validity Of Conditioning Approval Of A Consolidation By Reference To Proper Treatment Of Employees, Kenneth J. Nordstrom
Railroads - Reorganization - Validity Of Conditioning Approval Of A Consolidation By Reference To Proper Treatment Of Employees, Kenneth J. Nordstrom
Michigan Law Review
A railroad made application to the Interstate Commerce Commission to obtain authorization to lease the lines of another railroad. The relevant federal statute provided that the commission should authorize consolidations and leases subject to such terms and conditions as it should find just and reasonable and as would promote the public interest. Accordingly, the commission conditioned approval of the lease by requiring that employees dismissed as a result of the lease be paid monthly allowances for fixed periods, or until securing re-employment; that those not dismissed be protected against any decrease in wages for five years, and reimbursed for expenses …