In re Harris, Inc. (03-51863)
Pursuant to 11 U.S.C.A. ยง 366, the Chapter 11 debtor proposed its current liquidity as adequate assurance of payment for utility services. The debtor also proposed to require its utility companies to obtain court approval before terminating its services. No utility company appeared at the hearing or objected to debtor's motion. The Assistant United States Trustee did object. The Court held that the debtor's current liquidity was adequate assurance of payment, but declined to require utility companies to obtain court approval before terminating services.
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Date:
Friday, July 11, 2003