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Partial Rejection of Executory Lease Provision
Dear All:
My clients are in Chpater 13 with a very tight budget. They are expected a
tax refund, but they also received a supplemental real property taxes bills.
Can they use the tax refund to pay this additional tax bills, and how?
Thank you in advance for your help.
Jarintorn Tanatchasai
18411 Crenshaw Blvd #424
Torrance, CA 90504
(310) 515-2888
>Reply-To: cdcbaa@yahoogroups.com
>To:
>Subject: RE: [cdcbaa] Partial Rejection of Executory Lease Provision
>Date: Mon, 28 Feb 2005 11:16:35 -0800
>
>
>Can't do this. Must accept the contract as a whole, or reject it as a
>whole. Cannot pick and choose clauses.
>
>David A. Tilem
>Certified Bankruptcy Specialist*
>Law Offices of David A. Tilem
>500 N. Brand Blvd., #460, Glendale, CA 91203
>Tel: 818-507-6000 Fax: 818-507-6800
>
>* Bankruptcy specialist cert. by State Bar of CA Bd of Legal
>Specialization.
> Business bankruptcy specialist cert. by Amer. Bd. of Certification
>
>
>
>
>
>-----Original Message-----
>Sent: Sunday, February 27, 2005 3:23 PM
>To: cdcbaa@yahoogroups.com
>Subject: [cdcbaa] Partial Rejection of Executory Lease Provision
>
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>Has anyone had the opportunity to elect in a Chapter 13 to assume an
>executory lease, but reject a provision of the lease that was not
>material?
>
>I have a potential client with a nonresidential real property lease
>that has a provision in it that if the franchise agreement were
>terminated it would revert to the franchisor. Problem is that the
>lease was entered into by the franchisee and not the franchisor; that
>the lease was amended to add this provision after the lease was
>executed; and there is no recitation of consideration, other than the
>boiler plate. The potential client has been in litigation with the
>franchisor and wants to terminate (reject) the franchise agreement,
>but keep
>the location with all indicia of the franchise removed.
>
>Any sage advice?
>
>Best regards. Lou Esbin
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>Yahoo! Groups Links
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The post was migrated from Yahoo.
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>david is right. You cannot reject only part.
The solution is to contact the landlord and ask the
landlord to enter into a new agreement once you
reject. If your client has a relationship with the
landlord, or the landlord does not like the
franchisor, you may be able to get a new lease. If the
landlord wants you out, watch out.
dennis
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The post was migrated from Yahoo.
Has anyone had the opportunity to elect in a Chapter 13 to assume an
executory lease, but reject a provision of the lease that was not
material?
I have a potential client with a nonresidential real property lease
that has a provision in it that if the franchise agreement were
terminated it would revert to the franchisor. Problem is that the
lease was entered into by the franchisee and not the franchisor; that
the lease was amended to add this provision after the lease was
executed; and there is no recitation of consideration, other than the
boiler plate. The potential client has been in litigation with the
franchisor and wants to terminate (reject) the franchise agreement,
but keep
the location with all indicia of the franchise removed.
Any sage advice?
Best regards. Lou Esbin
The post was migrated from Yahoo.