My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
2016-04-25_GENERAL DOCUMENTS - C1992081 (3)
DRMS
>
Day Forward
>
General Documents
>
Coal
>
C1992081
>
2016-04-25_GENERAL DOCUMENTS - C1992081 (3)
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
8/24/2016 6:21:07 PM
Creation date
4/26/2016 9:59:20 AM
Metadata
Fields
Template:
DRMS Permit Index
Permit No
C1992081
IBM Index Class Name
General Documents
Doc Date
4/25/2016
Doc Name
Motion of the Debtors and Debtors in Possession
From
United States Bankruptcy Court
To
DRNS
Permit Index Doc Type
General Correspondence
Email Name
MPB
JRS
Media Type
D
Archive
No
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
21
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
View images
View plain text
Case 16-42529 Doc 32 Filed 04/13/16 Entered 04/13/16 11:43:47 Main Document <br />Pg 12 of 21 <br />24. As stated above, the Debtors believe that performing transactions under the ADM <br />Agreement is within the ordinary course of their businesses. Accordingly, providing Credit <br />Support is also within the ordinary course of the Debtors' businesses. Moreover, the relief <br />requested herein is in the best interest of the Debtors' estates and creditors. <br />25. Further, the Court may authorize the Debtors to provide Credit Support in <br />accordance with the ADM Agreement pending assumption pursuant to section 105(a) of the <br />Bankruptcy Code. Section 105(a) of the Bankruptcy Code empowers a bankruptcy court to issue <br />"any order, process, or judgment that is necessary or appropriate to carry out the provisions of <br />the Bankruptcy Code. 11 U.S.C. § 105. The purpose of section 105 of the Bankruptcy Code is <br />to ensure the bankruptcy court has the power to take whatever action "is appropriate or necessary <br />in aid of the exercise of [its] jurisdiction." 2 Collier on Bankruptcy 1105.01 (Alan N. Resnick & <br />Henry J. Sommer eds., 16th ed. 2015). "Under [section 105 of the Bankruptcy Code,] the court <br />can permit pre -plan payment of a pre-petition obligation when essential to the continued <br />operation of the debtor." In re NVR L.P., 147 B.R. 126, 127 (Bankr. E.D. Va. 1992) (citing In re <br />Ionosphere Clubs, Inc., 98 B.R. 174, 177 (Bankr. S.D.N.Y. 1989)). <br />26. In addition, under the "doctrine of necessity," courts allow the immediate <br />payment of prepetition claims where such payment is essential to the debtor's continued <br />operations. See In re Wehrenberg Inc., 260 B.R. 468, 469 (Bankr. E.D Mo. 2001) ("Pursuant to <br />11 U.S.C. § 105(a) the Court may authorize the payment of prepetition claims when such <br />payments are necessary to the continued operation of the Debtor."); In re United Am., Inc., 327 <br />B.R. 776, 782 (Bankr. E.D. Va. 2005) (acknowledging the existence of the doctrine of necessity <br />"because otherwise there will be no reorganization and no creditor will have an opportunity to <br />recoup any part of its prepetition claim"); accord In re Boston & Me. Corp., 634 F.2d 1359, 1382 <br />-12- <br />
The URL can be used to link to this page
Your browser does not support the video tag.