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In the Spotlight: Dealing with Stub Rent After <i>In re Oreck</i>
A bankruptcy judge recently held that lessors of a debtor's corporate headquarters were not entitled to administrative expense priority under 11 U.S.C. ' 365(d)(3) for 25 days of unpaid “stub rent” for the period between the Chapter 11 petition and the first post-petition rent payment. In re Oreck (Bankr. D. Tenn., Mar. 10, 2014). The court held that the lessors' stub rent claim was a prepetition debt that was not within the scope of ' 365(d)(3) and was not entitled to administrative expense priority under section 503(b)(1).
Does the Billing Date Method or Proration Approach Apply?
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New York's Latest Cybersecurity Commitment
On Aug. 9, 2023, Gov. Kathy Hochul introduced New York's inaugural comprehensive cybersecurity strategy. In sum, the plan aims to update government networks, bolster county-level digital defenses, and regulate critical infrastructure.
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