Creditors Table Cure Claim Objections For Levitz

Law360, New York (November 27, 2007, 12:00 AM EST) -- In a rickety start for Levitz Furniture's most recent bankruptcy, over a dozen objections to the company's cure amounts were filed in the Manhattan bankruptcy court on Monday and Tuesday.

Cure amounts refer to a payment debtors are proposing to give in order to “cure” any defaults. All defaults must be cured in cash before a debtor can assume or assign leases on properties to a buyer.

Saying it was facing an “immediate liquidity crisis,” Levitz asked the court on Nov. 9 to approve an expedited...
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