Pearl-Phil GMT (Far East) Ltd. v. Caldor Corp.

How courts have described this case

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

• contingent claim for breach of contract arose when purchase orders with debtor executed post-petition; possibility of future breach was within the presumed contemplation of contracting parties
• “[T]he clear weight of case law in this Circuit ... recognizes that contract-based bankruptcy claims arise at the time the contract is executed.”
• “[U]nder the Code, a right to payment need not be currently enforceable in order to constitute a claim.”
• “Certainly the possibility of a future breach is within the presumed contemplation of the contracting parties.”
• “[T]he clear weight of case law in this Circuit ... recognizes that contract-based bankruptcy claims arise at the time the contract is executed.”
• “Thus, under the Code, a right to payment need not be currently enforceable in order to constitute a claim.”

Source: CourtListener parenthetical corpus (CC0).