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Court Authorizes Assumption and Assignment of Certain Unexpired Leases for Diamond Glass

The U.S. Bankruptcy Court for the District of Delaware has issued an order authorizing the assumption and assignment of certain unexpired leases for nonresidential real property in the case of Diamond Glass (which is now known as DG Liquidation Corp. in the bankruptcy case, which was filed April 1). According to court documents, the order was issued as it appears that "the relief requested is in the best interest of the Debtors, their estates and creditors after due deliberation, and sufficient cause appearing."

The leases include a range of locations leased previously by Diamond throughout the United States and owned by various parties. The list of leases includes several properties owned by former Diamond chief executive officer Ken Levine and former co-chairperson Richard Rutta. Most of the leases for these expire on December 31, 2010.

CLICK HERE for full text of order.

CLICK HERE for full list of assumed and assigned leases.

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