First, the not-so-great news in figures:

First, the not-so-great news in figures:

First, the not-so-great news in figures:

First, the not-so-great news in figures:

First, the not-so-great news in figures:

First, the not-so-great news in figures:

First, the not-so-great news in figures:

First, the not-so-great news in figures:

Bankruptcy Code Section 502(b)(6) establishes a Statutory Cap on the damages a landlord can claim arising from the termination of a lease in bankruptcy case. Courts have split on how to calculate the Statutory Cap, whether and how to apply letters of credit to reduce the Statutory Cap, and whether the Statutory Cap applies to a landlord’s claims against a lessee’s debtor-guarantor.

On March 26, 2024, the US District Court for the Southern District of New York issued an opinion addressing the foregoing issues:

First, the not-so-great news in figures: