Some Days, A Stay Is Easier To Obtain Than Others

Law360, New York (August 04, 2014, 1:53 PM ET) -- In A&F Enterprises v. IHOP Franchising LLC, 742 F.3d 764 (Seventh Cir. 2014), Chapter 11 debtors appealed a determination that their building leases were deemed rejected because they were not timely assumed. Both the bankruptcy court and the district court denied the request for a stay of the decision pending appeal. The Seventh Circuit reversed and granted the stay.

The general rule in a Chapter 11 case is that a nonresidential real estate lease must be assumed within 120 days (or 210 days with a court-approved...
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