Bookmark
PDF
Share
CaseIQ

IN RE WASHINGTON GROUP INTERNATIONAL, INC., (Bankr.D.Nev. 2001)

United States Bankruptcy Court, D. Nevada

Oct 9, 2001

Judgment

CaseIQ

ORDER AUTHORIZING DEBTORS TO ASSUME CERTAIN NONRESIDENTIAL REAL PROPERTY LEASES, AS AMENDED, AT 508 AND 510 CARNEGIE CENTER, PRINCETON, NEW JERSEY

GREGG W. ZIVE, United States Bankruptcy Judge

Upon the motion dated September 14, 2001 (the "Motion") of the above-captioned debtors and debtors-in-possession (the "Debtors") for entry of an order under 11 U.S.C. § 365(a) and F.R.Bankr.P. 6006 authorizing the Debtors' assumption of certain unexpired nonresidential real property leases, as amended, located at 508 and 510 Carnegie Center, Princeton, New Jersey; and after a hearing on the Motion; and the Court having considered the Motion; and upon the record herein; and after due deliberation thereon; and good and sufficient cause appearing therefor; it is hereby

Except as otherwise defined herein, all capitalized terms shall have the meanings ascribed to them in the Motion.

FOUND THAT:

A. The relief requested in the Motion is in the best interests of the Debtors, their estates, their creditors, and other parties in interest;

B. Proper and adequate notice of the Motion has been given and no other or further notice is required;

C. The Debtors have exercised sound business judgment in deciding to assume the Leases, as amended, and have satisfied the requirements of 11 U.S.C. § 365(a) and F.R.Bankr.P. 6006; and it is therefore,

ORDERED, ADJUDGED AND DECREED THAT:

1. The Motion is GRANTED.

2. Under Code section 365(a), the Debtors are hereby authorized to assume the Leases effective upon the entry of this Order.

3. In the event that this Order does not become a final order by January 31, 2002, and absent an agreement between the landlords and the Debtors to extend this dead-line, the Leases will be deemed rejected.

4. Under Bankruptcy Code section 365(b), the Debtors are hereby authorized and directed to pay the cure amount under the Leases in the total amount of $231,239.49 (the "Cure Payment").

5. In addition to the Cure Payment, the Debtors shall remain liable for any Additional Rent (as that term is defined in the Leases) or adjustments that may have accrued before the Effective Date of the Lease Amendments, but will not become due or payable until after the Effective Date. The Debtors will pay these amounts, if any, as and when they become due in accordance with the terms of the Leases.

6. This Court shall retain jurisdiction to decide any disputes arising between the Debtors and the landlords to the Leases but only with respect to the assumption of the Lease pursuant to this Order.