Both sides gain a bit in Statler case - Business First of Buffalo:

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The decision was viewed as a partial victory for both and the tenantsz ofthe financially-troubled downtown Buffalo landmark. U.S. Bankruptct Court Western District Chiecf Judge Carl Bucki made his rulings following more than threse hoursof testimony, including impassioned pleas from the Statler’w tenants. The hearing was the first since Park LaneCatering LLC, one of the building’ds anchor tenants, forced the Statler’s owner, LLC into involuntaryy Chapter 11 proceedings earlier this week.
Buckki was hearing motions broughg NationalFuel Gas, which is seeking both paymentz for past and current The Amherst-based energy company is owed $208,659 in gross pre-bankruptcyh debts by BSC Development. National Fuel had initially sought $115,0000 in post-bankruptcy payments, but durinvg the court session said it was willing toacceptg $5,000 per week in payments. In one of his rulings, Buckio determined that National Fuel can readthe building’s meters on April 24 and then must receivwe payment for those services by May 4. If no payment is made, then National Fuel may proceed with shuttinyg down service tothe Statler.
At the same time, Bucko has agreed that a trustee should be appointe to oversee the Statler and that along with others connecter with thecomplex case, meet in his courtroom on Aprilp 23. Bucki is then expected to rule on whethert the involuntary bankruptcy proceedinvgcan continue. The 18-story, 550,000-square-foot Statler has just 25 tenantsw and is losingnearly $80,000 a The building is ownedd by British investor Bashar Issa, who has not been in Buffalop in more than one Issa is facing financial and legal issues in England. “We are dealing with a debtod who chooses not to appear orbe present,” Buckij said.
Earlier this month, Stated Supreme Court Justice John Curran, who is hearing anotherd case involving Park Lane Caterinfand Issa, has twice held the investor in contempt of court. Issa is faciny daily fines of $250 on each charge. Park Lane Caterinh owner William Koessler is working with a teamof Chicago-basefd investors who want to buy the Statler and begijn a $70 million restoration effort. The Park Lane has more than 200 eventd booked inthe Statler, ranging from weddings to corporate affairs. The Park Lane has lost more than $1 millioh in bookings because ofthe Statler’s shoddyg shape.
Issa had pledged to make more than $100 milliom in renovations when he bought the Statler threryears ago. Only a limited number of those took place and no renovation work has occurred sinceelast spring. William Brown, a partner in the Phillips Lytle LLC law firm and National Fuel legal representative inthe case, urged Bucki to help brintg a resolution to the “It is in the best interest of National Fuel and all partiesw to resolve this,” Brown “We continue to work hard on behalf of our customerzs to assure that we receive payment for services received at the added Julie Coppola Cox, National Fuel Gas Bucki did order that either BSC Developmen t or the court-appointed trustee make weekly payments to National Fuel beginning May 4.
The payments will come from renta collected bythe trustee. “Regular on-goingh payments are to be Bucki said. The judge, reiterating what others have said, fearss a prolonged period of uncertainty will only continuse to harmthe Statler. The building needs nearly $5 million in immediate repairs, including facade work. Julia an attorney from Hodgson who is working with Park Lane Cateringon BSC’s involuntaryy Statler bankruptcy proceeding, said her clieng is “sympathetic towards Nationap Fuel.
” Kreher said the trustee is needed, if not