By Merideth Akers, CPA, PHR, Comptroller for Bradford W. Caraway (Birmingham, AL) The Covid-19 pandemic postponed the 2020 Masters Golf Tournament, originally scheduled for early spring. It was eventually held November 12th through 15th. The winner was Dustin Johnson. Additionally, the 2020 Wimbledon Tennis Tournament was cancelled for the first time since 1945 (due to World War II). For the...
From the Editor – Leases
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By The Honorable William Houston Brown (Retired)
Nonresidential lease deemed rejected when not timely assumed by trustee. Finding that § 365(d)(4)(A) applies in Chapter 13 cases, an unexpired nonresidential lease on which the debtor is lessee must be timely assumed, and the lease was automatically rejected if the trustee does not assume it within 120 days of the petition filing. The plain language of that section does not permit a debtor to assume such a lease. The court discussed two reported cases supporting the debtors’ position that they could assume, but disagreed with them . . .
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