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Does a lease need to be in writing to be a lease under 365?
I'm alleging a lease arrangement between debtor and principals. Principals
are buying the truck; CH 11 Debtor business is making all the payments to
lender as if it is leasing the truck from the principals. Debtor has always
made the payments to lender. Lender wants to repo truck as agreement is
between lender and principal and not with debtor. I have asserted they need
relief from stay because of the lease agreement and that the truck is
therefore property of the estate. They want a "copy of the lease". There
isn't one, but for 4 years this has been the payment arrangement.
What do you think? Does a lease need to be in writing to be a lease under
365?
Holly Roark
Certified Bankruptcy Specialist*
*and Sports Lawyer*
holly@roarklawoffices.com **primary email address**
www.roarklawoffices.com
*Central District of California & District of Idaho* - Consumer Bankruptcy
Attorney
1875 Century Park East, Suite 600 Los Angeles, CA 90067
T (310) 553-2600; F (310) 553-2601
*By State Bar of California Board of Legal Specialization
I'm alleging a lease arrangement between debtor and principals. Principals are buying the truck; CH 11Debtor business is making all the payments to lender as if it is leasing the truck from the principals. Debtor has always made the payments to lender. Lender wants to repo truck as agreement is between lender and principal and not with debtor. I have asserted they need relief from stay because of the lease agreement and that the truck is therefore property of the estate. They want a "copy of the lease". There isn't one,but for 4 years this has been the payment arrangement.
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