In Re Klein Sleep Products, Inc., Debtor. Nostas Associates v. Bernard W. Costich, Chapter 11 Trustee, and Official Committee of Unsecured Creditors

How courts have described this case

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

• commenting that under Chapter 11 the “same priority'' is given to expenses from assumed prepetition leases as new postpetition leases
• discussing consistency of treatment of claims arising from rejection of assumed contracts under Bankruptcy Code and former Bankruptcy Act
• expressing the view that the business-judgment standard under 11 U.S.C. § 365(a) and the test for granting administrative expense - 26 - priority to post-petition liabilities under 11 U.S.C. § 503(b) are substantially equivalent
• a lessor under an assumed lease does not lose its priority the moment the deal turns sour and the assumed lease becomes unprofitable
• bankruptcy court required to determine that postpetition contract is in best interest of estate to justify administrative expense priority
• “Failure to appear for trial … prejudices an adversary and 19 interferes with the court’s docket about as much as any procedural default can.”

Source: CourtListener parenthetical corpus (CC0).