Failure to Pay Overdue Taxes Violates Bankruptcy Rules

January 1, 2009
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Facts: After a tenant filed for bankruptcy, a limited liability company (LLC) agreed, in a bankruptcy court order, to take over the tenant's lease and settle the tenant's outstanding debt, as determined by bankruptcy rules. The bankruptcy court's order also required the tenant to settle all existing defaults, including the overdue 2005 real estate taxes assessed on the property.

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