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On December 14, 2020, Judge Marvin Isgur of the United States Bankruptcy Court for the Southern District of Texas, issued an important decision in the CEC Entertainment, Inc. (Chuck E. Cheese) bankruptcy case, Case No. 20-33163, denying the Debtors’ motion to abate their obligations to pay post-petition rent due to government shutdown orders issued as a result of the COVID-19 pandemic. Memorandum Opinion [Dkt. No. 1492].
The Court held that the force majeure clause in each affected lease prohibited the Debtors from delaying payment of rent due to COVID - 19 shutdown orders, and that the common law doctrine of frustration of purpose does not apply, either because the force majeure clauses in the leases supersede application of the frustration of purpose doctrine, or because the purpose of each lease is not entirely frustrated.
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Cuker Interactive, LLC filed a Chapter 11 bankruptcy petition on December 13, 2018, in the United States Bankruptcy Court for the Southern District of California. Because it was solvent at confirmation, the debtor proposed to pay secured creditors in full, with interest at the contract rate, and general unsecured creditors in full, with postpetition interest at the “legal rate,” or a rate determined by the Court that leaves the creditors unimpaired.[1] But what rate is that?
Section 1124(1) provides that where a Chapter 11 plan, and not the Bankruptcy Code, “impairs” a claim or interest, the impaired class is entitled to vote on the plan unless it “leaves unaltered the legal, equitable, and contractual rights” of the holders.[2] In this case, unsecured creditors argued that they were “impaired” because the plan did not require the debtor to pay postpetition interest at the contractual rate or a hig
Garrett A. Soberalski. Photo courtesy of Meissner Tierney Fisher & Nichols S.C.
MILWAUKEE – Meissner Tierney Fisher & Nichols S.C. is pleased to announce that
Garrett A. Soberalski will become a shareholder of the firm on January 1, 2021.
“We are delighted and proud to announce Garrett’s promotion to shareholder status,” said firm president
Tom Nichols, “Garrett is an excellent attorney and we are confident that he will continue to bolster the caliber and quality of our practice for years to come.”
Garrett graduated from Marquette University Law school in 2012, and clerked for the Honorable
G. Michael Halfenger in the United States Bankruptcy Court for the Eastern District of Wisconsin. At the firm, he has developed a unique practice helping clients navigate complex commercial and real estate litigation as well as commercial real estate transactions. His litigation practice includes work in both state and federal courts, and his clerkship and experience have
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PITTSBURGH – Allegheny County’s Health Department is looking to dismiss a complaint filed by a Pittsburgh restaurant which sued it for its allegedly unconstitutional enforcement of COVID-19 emergency orders and further stop it from being sent to bankruptcy court.
The Cracked Egg, LLC of Pittsburgh first filed suit in the U.S. District Court for the Western District of Pennsylvania on Sept. 23 versus Allegheny County and the Allegheny County Health Department, of Pittsburgh.
The Cracked Egg is a family restaurant in the Brentwood section of Pittsburgh, which argues it was negatively affected by Gov. Tom Wolf’s disaster emergency declarations and other orders associated with the coronavirus pandemic in March.
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