In re Pacific Gas & Elec. Co.

Full title: In re PACIFIC GAS ELECTRIC COMPANY, Debtor

Court: United States Bankruptcy Court, N.D. California

Date published: Jun 13, 2001

Case No. 01-30923DM, Chapter 11., Bankruptcy Case (Bankr. N.D. Cal. Jun. 13, 2001)

Opinion

Case No. 01-30923DM, Chapter 11., Bankruptcy Case

June 13, 2001

MEMORANDUM DECISION ON MOTION FOR ORDER EXTENDING TIME TO ASSUME, ASSUME AND ASSIGN, OR REJECT REAL PROPERTY LEASES

DENNIS MONTALI, United States Bankruptcy Judge.

The court has reviewed the Debtor's May 23, 2001, Motion For Order Extending Time To Assume, Assume And Assign, Or Reject Real Property Leases, the supporting memorandum and declaration (collectively "Motion"). As of the last day for any party in interest to oppose the Motion, the only opposition is that of Regency Centers, LP ("Regency") as the owner and landlord of the Strawflower Village Shopping Center.

Since no other party has opposed the Motion, and the court can treat Regency's concerns without the need for a hearing, the Motion is hereby dropped from the June 20, 2001, at 9:30 a.m. calendar. The Motion is granted in part, in that (except as to Regency) Debtor's time to assume, assume and assign, or reject the Leases (as defined and described in the Motion) is extended to and until October 5, 2001. This extension is without prejudice to the Debtor's seeking a further extension prior to that deadline or filing a Plan of Reorganization by that deadline and including in that Plan of Reorganization its intentions regarding assumption, assumption and assignment, or rejection of any of the Leases described in the Motion.

As to Regency, the concerns set forth in its opposition are well taken. Debtor may have to and until August 31, 2001, to move to assume, assume and assign, or reject Regency's lease; provided, however, if it is not in a position to commit itself as to Regency's lease at the Strawflower Village Shopping Center by August 31, 2001, then it may not move to reject that lease until after December 31, 2001. The court makes no ruling on Regency's request that Debtor comply with the terms, covenants and conditions of the lease through the effective date of any rejection. See 11 U.S.C. § 365(d)(3).

Counsel for Debtor should submit a form of order consistent with this Memorandum Decision, and as to Regency, counsel should comply with B.L.R. 9022-1.