Key Notes:
USA, Company & Commercial, Insolvency & Restructuring, Thompson Hine LLP, Supply chain, Coronavirus, Title 11 of the US Code
Key Notes:
USA, Company & Commercial, Insolvency & Restructuring, Thompson Hine LLP, Coronavirus, Uniform Commercial Code (USA)
In 2003 the Seventh Circuit Court of Appeals surprised many observers when it held that a sale of real property under section 363 of title 11 of the United States Code (Bankruptcy Code) could be approved free and clear of a lessee’s leasehold interest in the property. Precision Industries, Inc. v. Qualitech Steel SBQ, LLC (In re Qualitech Steel Corp. & Qualitech Steel Holdings Corp.), 327 F.3d 537 (7th Cir. 2003) (Qualitech).