Cohen v. Drexel Burnham Lambert Group, Inc. (In Re Drexel Burnham Lambert Group, Inc.)

How courts have described this case

Verbatim parenthetical descriptions written by other courts when citing this decision. Ranked by citation-network relevance.

• holding that “[rjejection merely frees the estate from the obligation to perform; it does not make the contract disappear” and rejection does not “vaporize” or otherwise avoid interests created by the underlying contract
• noting that even a post petition breach is treated as a prepetition liability where the contract was executed prepetition
• synthesizing the Westbrook and Andrew articles, and concluding that a threshold requirement of exe-cutoriness is misplaced; rather, the proper analysis is whether rejection will produce a benefit to the estate
• a lease of non-residential real property that was deemed rejected pursuant to 11 U.S.C. § 365(d)(4) is considered breached, not terminated
• promised payments that induced claimant to accept prepetition employment with debtor not accorded administrative priority status because claimant faded to provide debtor consideration postpetition
• “Section 541 ‘is not intended to expand the debtor’s rights against others more than they exist at the commencement of the case’.” (citations omitted)

Source: CourtListener parenthetical corpus (CC0).