Day: March 25, 2012

Motion of Debtors for Entry of Order Extending Time to Assume or Reject Leases

The Debtors filed a motion asking the Court to extend the initial period granted by the Bankruptcy Code to assume (keep) or reject (terminate) nonresidential real property leases. Section 365(d)(4)(B) of the Bankruptcy Code gives a debtors 120-days to assume or reject unexpired leases of nonresidential real property (the “Lease Rejection Period”).  Absent the requested…