Analysis Of Chapter 11’S Landlord Cap, Good Faith, And Solvent Debtors
HAS YOUR TENANT NO CONSCIENCE? AN ANALYSIS OF CHAPTER 11’s LANDLORD CAP, GOOD FAITH, AND SOLVENT DEBTORS
INTRODUCTION
Recently, the Third Circuit, in In re Integrated Telecom Express, Inc., (“Integrated II”) reversed both a district court and bankruptcy court in deciding that a solvent debtor who filed for Chapter 11 bankruptcy, partially to take advantage of the “landlord cap” in Chapter 11, did not meet the good faith filing requirement because the debtor was not in “financial distress.” In so holding, the court took a very limited view of the appropriate scope of Chapter 11, and by so doing, set a precedent that may seriously jeopardize the balancing of interests in which Congress engaged in drafting the provisions of the Bankruptcy Code. It is not inconceivable that the Third Circuit’s narrow conception of the scope of Chapter 11 is preferable in today’s economic context. However, Congress and not the courts should be making this determination.......
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Approximate Word Count: 8454
Approximate Pages: 34 (250 words per double-spaced page)
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