Two Circuits Examine Chapter 11's Good-Faith Filing Requirement.
Mondaq Business Briefing › Nbr. 2008, March 2008
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Two Circuits Examine Chapter 11's Good-Faith Filing Requirement.
Two circuit courts of appeal recently addressed whether a company filing chapter 11 for the sole purpose of retaining vital leases did so in good faith. In In re Capitol Food of Fields Corner, the First Circuit, in a matter of first impression on the issue of chapter 11's implied good-faith filing requirement, declined to address the broader question, concluding that even if there is a good-faith filing requirement, a prima facie showing of bad faith could not be met because the debtor articulated several legitimate reasons for the necessity of reorganizing unde...
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