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RadioShack Objection Filed

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According to the U.S. Bankruptcy Court, several landlords – including Macerich Company, Starwood Retail Partners, Centennial Real Estate Company, Prudential Insurance Company of America and Watt Management – filed a collective objection to RadioShack’s second motion for (i) an order (a) establishing bid procedures for the sale of certain lease assets and (b) granting certain related relief and (ii) an order (a) approving the sale of certain lease assets free and clear of liens, claims, encumbrances and other interests and (b) granting certain related relief and (2) proposed cure amounts. The objection explains, “The Debtors must provide adequate assurance of future performance information to assume and assign the Leases.”

The objection continues, “The Debtors may not assume and assign the Leases unless they demonstrate adequate assurance of future performance….The Landlords object to any sale free and clear of the obligations to satisfy unbilled taxes, reconciliations, percentage rent, or other year-end adjustments or unbilled charges that may have accrued under the Leases prior to the assignment of the Leases, or are accruing, but which have not yet been billed.”

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