In re C&K Market: Court Awards Break-up Fee to "Stalking Horse" DIP Lender, but Not as Administrative Expense | Practical Law
The US Bankruptcy Court for the District of Oregon, in In re C&K Market, Inc., held that a prospective DIP financing lender was entitled to an unsecured claim for a break-up fee negotiated with the potential debtor prepetition, that was payable if the debtor chose an alternate financing arrangement with another lender.