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    In The United States Bankruptcy Court Eastern District of Michigan Southern Division

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    Chapter 11 Dockets
    1) The document is an order from the United States Bankruptcy Court for the Eastern District of Michigan authorizing Collins & Aikman Corporation and its subsidiaries (the "Debtors") to enter into an amendment to an existing lease with TR Associates, LLC. 2) The amendment extends the lease term from July 2009 to December 2010, modifies the rent amounts for two periods between 2006-2010, and requires at least six months notice if the Debtors reject the lease. 3) If the Debtors vacate the leased premises before a potential six-month rejection period, they must continue paying rent as administrative expenses until the rejection date.

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    In The United States Bankruptcy Court Eastern District of Michigan Southern Division

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    Chapter 11 Dockets
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    1) The document is an order from the United States Bankruptcy Court for the Eastern District of Michigan authorizing Collins & Aikman Corporation and its subsidiaries (the "Debtors") to enter into an amendment to an existing lease with TR Associates, LLC. 2) The amendment extends the lease term from July 2009 to December 2010, modifies the rent amounts for two periods between 2006-2010, and requires at least six months notice if the Debtors reject the lease. 3) If the Debtors vacate the leased premises before a potential six-month rejection period, they must continue paying rent as administrative expenses until the rejection date.

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    1) The document is an order from the United States Bankruptcy Court for the Eastern District of Michigan authorizing Collins & Aikman Corporation and its subsidiaries (the "Debtors") to enter into an amendment to an existing lease with TR Associates, LLC. 2) The amendment extends the lease term from July 2009 to December 2010, modifies the rent amounts for two periods between 2006-2010, and requires at least six months notice if the Debtors reject the lease. 3) If the Debtors vacate the leased premises before a potential six-month rejection period, they must continue paying rent as administrative expenses until the rejection date.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    45 views4 pages

    In The United States Bankruptcy Court Eastern District of Michigan Southern Division

    Uploaded by

    Chapter 11 Dockets
    1) The document is an order from the United States Bankruptcy Court for the Eastern District of Michigan authorizing Collins & Aikman Corporation and its subsidiaries (the "Debtors") to enter into an amendment to an existing lease with TR Associates, LLC. 2) The amendment extends the lease term from July 2009 to December 2010, modifies the rent amounts for two periods between 2006-2010, and requires at least six months notice if the Debtors reject the lease. 3) If the Debtors vacate the leased premises before a potential six-month rejection period, they must continue paying rent as administrative expenses until the rejection date.

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    of 4

    IN THE UNITED STATES BANKRUPTCY COURT EASTERN DISTRICT OF MICHIGAN SOUTHERN DIVISION In re: COLLINS & AIKMAN CORPORATION,

    et al. 1 Debtors. ) ) ) ) ) ) ) ) Chapter 11 Case No. 05-55927 (SWR) (Jointly Administered) (Tax Identification #13-3489233) Honorable Steven W. Rhodes

    ORDER AUTHORIZING THE DEBTORS TO ENTER INTO AN AMENDMENT TO AN EXISTING LEASE WITH TR ASSOCIATES, LLC Upon the motion (the Motion) 2 of the above-captioned debtors (collectively, the Debtors) for an order authorizing the Debtors to enter into an amendment to an existing lease with TR Associates, LLC, [Docket No. 2512] it appearing that the relief requested is in the best interest of the Debtors estates, their creditors and other parties in interest; it appearing that the Court has jurisdiction over this matter pursuant to 28 U.S.C. 157 and 1334; it appearing that this proceeding is a core proceeding pursuant to 28 U.S.C. 157(b)(2); it appearing that

    The Debtors in the jointly administered cases include: Collins & Aikman Corporation; Amco Convertible Fabrics, Inc., Case No. 05-55949; Becker Group, LLC (d/b/a/ Collins & Aikman Premier Mold), Case No. 05-55977; Brut Plastics, Inc., Case No. 05-55957; Collins & Aikman (Gibraltar) Limited, Case No. 05-55989; Collins & Aikman Accessory Mats, Inc. (f/k/a the Akro Corporation), Case No. 05-55952; Collins & Aikman Asset Services, Inc., Case No. 05-55959; Collins & Aikman Automotive (Argentina), Inc. (f/k/a Textron Automotive (Argentina), Inc.), Case No. 05-55965; Collins & Aikman Automotive (Asia), Inc. (f/k/a Textron Automotive (Asia), Inc.), Case No. 0555991; Collins & Aikman Automotive Exteriors, Inc. (f/k/a Textron Automotive Exteriors, Inc.), Case No. 05-55958; Collins & Aikman Automotive Interiors, Inc. (f/k/a Textron Automotive Interiors, Inc.), Case No. 05-55956; Collins & Aikman Automotive International, Inc., Case No. 05-55980; Collins & Aikman Automotive International Services, Inc. (f/k/a Textron Automotive International Services, Inc.), Case No. 05-55985; Collins & Aikman Automotive Mats, LLC, Case No. 05-55969; Collins & Aikman Automotive Overseas Investment, Inc. (f/k/a Textron Automotive Overseas Investment, Inc.), Case No. 05-55978; Collins & Aikman Automotive Services, LLC, Case No. 05-55981; Collins & Aikman Canada Domestic Holding Company, Case No. 05-55930; Collins & Aikman Carpet & Acoustics (MI), Inc., Case No. 05-55982; Collins & Aikman Carpet & Acoustics (TN), Inc., Case No. 05-55984; Collins & Aikman Development Company, Case No. 05-55943; Collins & Aikman Europe, Inc., Case No. 05-55971; Collins & Aikman Fabrics, Inc. (d/b/a Joan Automotive Industries, Inc.), Case No. 05-55963; Collins & Aikman Intellimold, Inc. (d/b/a M&C Advanced Processes, Inc.), Case No. 05-55976; Collins & Aikman Interiors, Inc., Case No. 05-55970; Collins & Aikman International Corporation, Case No. 05-55951; Collins & Aikman Plastics, Inc., Case No. 05-55960; Collins & Aikman Products Co., Case No. 05-55932; Collins & Aikman Properties, Inc., Case No. 0555964; Comet Acoustics, Inc., Case No. 05-55972; CW Management Corporation, Case No. 05-55979; Dura Convertible Systems, Inc., Case No. 05-55942; Gamble Development Company, Case No. 05-55974; JPS Automotive, Inc. (d/b/a PACJ, Inc.), Case No. 05-55935; New Baltimore Holdings, LLC, Case No. 05-55992; Owosso Thermal Forming, LLC, Case No. 05-55946; Southwest Laminates, Inc. (d/b/a Southwest Fabric Laminators Inc.), Case No. 05-55948; Wickes Asset Management, Inc., Case No. 05-55962; and Wickes Manufacturing Company, Case No. 05-55968. Capitalized terms used but not otherwise defined herein shall have the meanings set forth in the Motion.

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    venue of this proceeding and this Motion in this District is proper pursuant to 28 U.S.C. 1408 and 1409; it appearing that notice of this Motion and the opportunity for a hearing on this Motion was appropriate under the particular circumstances and that no other or further notice need by given; and after due deliberation and sufficient cause appearing therefore, It is hereby FOUND A. TR Associates and DCS are parties to a lease dated as of August 1, 1984, as

    amended by the first amendment to the Lease dated as of July 27, 1994, the second amendment to the Lease dated as of November 1, 1999 and the third amendment to the Lease dated as of June 30, 2000 under which TR Associates leases to DCS certain land and buildings located at 2011 West Beecher Street, Adrian, Michigan (collectively, the Lease). The current Lease term expires on July 31, 2009 and the current monthly rent is $9,500.00. B. On May 17, 2005, the Debtors filed their voluntary petitions for relief under

    chapter 11 of the Bankruptcy Code. C. On December 21, 2005, the Debtors filed their Second Motion for Order

    Extending the Period within which the Debtors Must Assume or Reject Unexpired Leases of Nonresidential Real Property [Docket No. 1934]. D. On January 6, 2006, the Court entered an Order Extending the Period Within

    Which the Debtors Must Assume or Reject Unexpired Leases of Nonresidential Real Property (the Extension Order) [Docket No. 2023]. With certain exceptions set forth in the

    Extension Order, the Extension Order granted the Debtors until plan confirmation to decide whether to assume or reject unexpired leases for nonresidential property. The Lease is subject to the Extension Order.

    E.

    On March 31, 2006, the Debtors and TR Associates agreed to enter into an

    amendment to the Lease (the Amendment), subject to Court approval. The Amendment, among other things: (i) extends the term of the Lease from its present expiration date of July 31, 2009 to December 31, 2010; (ii) modifies the Lease to provide that for the period April 1, 2006 through January 31, 2007, rent will be $6,958.33 per month and for the period February 1, 2007 through December 31, 2010, rent will be $8,208.33 per month; and (iii) notwithstanding provisions of the Extension Order, the Bankruptcy Code or the Bankruptcy Rules to the contrary, if DCS rejects the Lease under the Bankruptcy Code, the effective date of such rejection can be no less than six months from the date of notification of such rejection. It is hereby ORDERED 1. 2. The Motion is granted as provided in this Order. If DCS rejects the Lease in accordance with the Bankruptcy Code, the effective

    date of such rejection must be no less than six (6) months from the date of notification of such rejection. 3. If DCS vacates the leased premises before the six (6) month effective date of any

    rejection of the Lease, the Debtors shall be required to continue to pay rent under the Lease, as amended by the Amendment, up through the effective date of such rejection and such rents shall be accorded administrative expense status under section 503(b)(1)(A) of the Bankruptcy Code. 4. The Debtors are authorized to take all actions necessary to effectuate the relief

    granted pursuant to this Order in accordance with the Motion. 5. The terms and conditions of this Order shall be immediately effective and

    enforceable upon its entry.

    6.

    The Court retains jurisdiction with respect to all matters arising from or related to

    the implementation of this Order.


    .

    Entered: April 12, 2006 _ __ _/s/ Steven Rhodes _ _ Steven Rhodes 2. Chief Bankruptcy Judge

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