In Re Airlift International, Inc., Debtor, Gatx Leasing Corp. v. Airlift International, 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 breach of post-petition contract gives rise to an administrative expense claim under section 503(b)
• noting that the ability to use a mortgaged aircraft was critical to the debtor-in-possession's business
• noting that mortgagees \cannot be expected to forego their right of repossession unless they are guaranteed payment by the terms of the agreement during the time the aircraft remains in the possession of the debtor\
• “[t]hough the Note set the parameters of Airlift’s obligation, it is the section 1110 agreement that creates the binding contractual obligations of Airlift”
• obligations under contract entered into during bankruptcy pursuant to section 1110

Source: CourtListener parenthetical corpus (CC0).